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

Stock analysts at StockNews.com started coverage on shares of Broadway Financial (NASDAQ:BYFC) in a report released on Saturday. The brokerage set a “sell” rating on the savings and loans company’s stock.

Broadway Financial Trading Down 9.7 %

Shares of Broadway Financial stock opened at $8.07 on Friday. The stock has a fifty day simple moving average of $7.20 and a 200 day simple moving average of $6.55. Broadway Financial has a 12-month low of $4.41 and a 12-month high of $9.46. The company has a market capitalization of $73.47 million, a P/E ratio of 27.81 and a beta of 0.72. The company has a current ratio of 1.38, a quick ratio of 0.14 and a debt-to-equity ratio of 2.26.

Broadway Financial (NASDAQ:BYFC) last posted its quarterly earnings data on Tuesday, October 29th. The savings and loans company reported ($0.03) earnings per share for the quarter. Broadway Financial had a return on equity of 2.43% and a net margin of 5.01%. The business had revenue of $8.75 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Broadway Financial stock. Wittenberg Investment Management Inc. increased its stake in shares of Broadway Financial Co. (NASDAQ:BYFC) by 12.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 51,117 shares of the savings and loans company’s stock after purchasing an additional 5,566 shares during the period. Wittenberg Investment Management Inc. owned 0.56% of Broadway Financial worth $329,000 as of its most recent SEC filing. 12.12% of the stock is currently owned by hedge funds and other institutional investors.

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.