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

by · The Markets Daily

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

Broadway Financial Stock Performance

Shares of BYFC stock opened at $6.60 on Friday. The company has a market cap of $60.26 million, a price-to-earnings ratio of 22.00 and a beta of 0.73. The stock has a 50 day simple moving average of $6.06 and a 200-day simple moving average of $5.50. Broadway Financial has a 12-month low of $4.41 and a 12-month high of $8.24. The company has a current ratio of 1.34, a quick ratio of 0.13 and a debt-to-equity ratio of 2.33.

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

Hedge Funds Weigh In On Broadway Financial

A hedge fund recently raised its stake in Broadway Financial stock. Wittenberg Investment Management Inc. lifted its holdings in shares of Broadway Financial Co. (NASDAQ:BYFC – Free Report) by 46.2% during the 1st quarter, according to its most recent disclosure 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 quarter. Wittenberg Investment Management Inc. owned about 0.39% of Broadway Financial worth $199,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 12.12% of the company’s stock.

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.

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