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

Posted by Amy Steele on Aug 7th, 2024

StockNews.com began coverage on shares of Broadway Financial (NASDAQ:BYFC – Free Report) in a report released on Saturday morning. The firm issued a sell rating on the savings and loans company’s stock.

Broadway Financial Stock Down 4.1 %

Shares of BYFC stock opened at $4.86 on Friday. The stock has a 50 day moving average of $5.12 and a 200 day moving average of $5.38. The company has a current ratio of 1.29, a quick ratio of 0.10 and a debt-to-equity ratio of 2.35. The stock has a market cap of $44.38 million, a P/E ratio of 16.20 and a beta of 0.70. Broadway Financial has a twelve month low of $4.41 and a twelve month high of $8.47.

Broadway Financial (NASDAQ:BYFC – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The savings and loans company reported $0.03 EPS for the quarter. The business had revenue of $8.19 million during the quarter. Broadway Financial had a return on equity of 2.16% and a net margin of 4.66%.

Hedge Funds Weigh In On Broadway Financial

A hedge fund recently raised its stake in Broadway Financial stock. Wittenberg Investment Management Inc. grew its holdings in Broadway Financial Co. (NASDAQ:BYFC – Free Report) by 46.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,128 shares of the savings and loans company’s stock after purchasing an additional 11,409 shares during the period. Wittenberg Investment Management Inc. owned approximately 0.39% of Broadway Financial worth $199,000 as of its most recent filing with the Securities & Exchange Commission. 12.12% of the stock is owned by institutional investors.

About Broadway Financial

(Get Free Report)

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.