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

by · The Markets Daily

Broadway Financial Co. (NASDAQ:BYFC – Get Free Report) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 4,000 shares, a decline of 41.2% from the September 15th total of 6,800 shares. Based on an average daily trading volume, of 9,900 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.1% of the shares of the stock are sold short.

Hedge Funds Weigh In On Broadway Financial

An institutional investor recently raised its position in Broadway Financial stock. Wittenberg Investment Management Inc. increased its holdings in shares of Broadway Financial Co. (NASDAQ:BYFC – Free Report) by 46.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 approximately 0.39% of Broadway Financial worth $199,000 at the end of the most recent quarter. Institutional investors and hedge funds own 12.12% of the company’s stock.

Broadway Financial Trading Up 1.4 %

BYFC stock traded up $0.09 during midday trading on Friday, reaching $6.59. The stock had a trading volume of 1,152 shares, compared to its average volume of 8,407. The firm has a market cap of $60.17 million, a price-to-earnings ratio of 21.97 and a beta of 0.72. Broadway Financial has a twelve month low of $4.41 and a twelve month high of $7.98. The business has a fifty day simple moving average of $6.42 and a two-hundred day simple moving average of $5.55. The company has a quick ratio of 0.13, a current ratio of 1.34 and a debt-to-equity ratio of 2.33.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Broadway Financial in a report on Sunday, October 6th. They issued a “sell” rating for the company.

Read Our Latest Research Report on Broadway Financial

Broadway Financial Company Profile

(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.

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