StockNews.com Initiates Coverage on Broadway Financial (NASDAQ:BYFC)

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

Broadway Financial Trading Down 1.8 %

Shares of Broadway Financial stock opened at $6.60 on Tuesday. The firm has a 50-day simple moving average of $6.71 and a two-hundred day simple moving average of $5.63. The company has a market cap of $60.26 million, a P/E ratio of 22.00 and a beta of 0.72. Broadway Financial has a fifty-two week low of $4.41 and a fifty-two week high of $7.99. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.13 and a current ratio of 1.34.

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

Institutional Trading of Broadway Financial

A hedge fund recently raised its stake in Broadway Financial stock. Wittenberg Investment Management Inc. lifted its stake in shares of Broadway Financial Co. (NASDAQ:BYFC) by 46.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 about 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 currently owned by 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.