Broadway Financial Co. (NASDAQ:BYFC) Sees Significant Decline in Short Interest

Broadway Financial Co. (NASDAQ:BYFC) was the recipient of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 6,800 shares, a decrease of 54.4% from the August 31st total of 14,900 shares. Based on an average trading volume of 12,100 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.2% of the shares of the stock are short sold.

Broadway Financial Trading Up 0.5 %

NASDAQ:BYFC traded up $0.03 during mid-day trading on Friday, reaching $6.15. The company’s stock had a trading volume of 11,919 shares, compared to its average volume of 8,423. Broadway Financial has a twelve month low of $4.41 and a twelve month high of $7.98. The company’s fifty day simple moving average is $6.18 and its two-hundred day simple moving average is $5.52. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.34 and a quick ratio of 0.13. The stock has a market cap of $56.16 million, a P/E ratio of 20.50 and a beta of 0.73.

Broadway Financial (NASDAQ:BYFC) last posted its quarterly earnings results 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 company had revenue of $8.19 million for the quarter.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Broadway Financial in a report on Saturday. They set a “sell” rating for the company.

Institutional Investors Weigh In On Broadway Financial

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

Broadway Financial Company Profile

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.