Broadway Financial (NASDAQ:BYFC) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Broadway Financial (NASDAQ:BYFC) in a report published on Sunday morning. The firm issued a sell rating on the savings and loans company’s stock.

Broadway Financial Stock Up 1.3 %

BYFC stock opened at $6.35 on Friday. The company’s 50 day moving average is $6.30 and its 200 day moving average is $5.54. The stock has a market cap of $57.98 million, a price-to-earnings ratio of 21.17 and a beta of 0.72. The company has a current ratio of 1.34, a quick ratio of 0.13 and a debt-to-equity ratio of 2.33. Broadway Financial has a 1-year low of $4.41 and a 1-year high of $7.98.

Broadway Financial (NASDAQ:BYFC) last posted its quarterly earnings data on Tuesday, July 30th. The savings and loans company reported $0.03 earnings per share for the quarter. Broadway Financial had a net margin of 4.66% and a return on equity of 2.15%. The firm had revenue of $8.19 million for the quarter.

Hedge Funds Weigh In On Broadway Financial

A hedge fund recently raised its stake in Broadway Financial stock. Vanguard Group Inc. boosted its position in Broadway Financial Co. (NASDAQ:BYFC) by 6.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 346,020 shares of the savings and loans company’s stock after buying an additional 19,918 shares during the quarter. Vanguard Group Inc. owned approximately 3.73% of Broadway Financial worth $1,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 12.12% of the company’s stock.

About Broadway Financial

Broadway Financial Corporation operates as the holding company for City First Bank, National Association that provides various banking products and services in the United States. It accepts various deposit accounts, including savings accounts, checking accounts, interest checking accounts, money market accounts, and fixed-term certificates of deposit.