Stock market today: Stocks fall as investors rotate out of tech into Jackson Hole
Scott Joseph McKim, the Executive Vice President and Chief Financial Officer of BayFirst Financial Corp. (NASDAQ:BAFN), recently acquired 120 shares of the company’s common stock. The shares were purchased at a price of $16.40 each, amounting to a total transaction value of $1,967. The transaction comes as BayFirst, currently valued at $70.2 million, trades at an attractive P/E ratio of 6.4x. Following this acquisition, McKim now directly owns approximately 3,243 shares in the company. This transaction was reported in a recent SEC Form 4 filing. The stock has shown strong momentum, delivering a 36% return over the past six months. InvestingPro analysis reveals 8 additional key insights about BAFN’s valuation and performance metrics that could help investors make informed decisions.
In other recent news, BayFirst Financial Corp. disclosed its fourth-quarter financial results in a conference call, as detailed in a recent SEC Form 8-K filing. The bank’s executives discussed results and offered insights into operations. The information shared is not considered filed for Section 18 of the Securities Exchange Act of 1934 purposes and will not be incorporated into any registration statement or other document filed under the Securities Act of 1933 or the Exchange Act unless expressly referenced.
On a different note, BayFirst Financial has finalized the sale of two branch office properties to Mountainseed Real Estate Services, LLC for a total of $15 million. This transaction involved the Seminole and Countryside branch locations. Additionally, a 15-year leaseback arrangement has been established, allowing BayFirst National Bank, a wholly-owned subsidiary of BayFirst Financial Corp., to continue operations at the sold properties.
This sale-leaseback deal is part of BayFirst Financial Corp.’s strategic real estate management and was publicly disclosed in the company’s latest 8-K filing. The transaction, which aims to unlock the value of the company’s real estate holdings while maintaining branch operations, is expected to provide the company with additional liquidity.
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