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

Equities researchers at StockNews.com assumed coverage on shares of Broadway Financial (NASDAQ:BYFC) in a note issued to investors on Thursday. The brokerage set a “sell” rating on the savings and loans company’s stock.

Broadway Financial Stock Up 5.3 %

NASDAQ:BYFC opened at $7.19 on Thursday. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.38 and a quick ratio of 0.14. Broadway Financial has a one year low of $4.41 and a one year high of $7.99. The firm’s 50 day simple moving average is $6.98 and its 200 day simple moving average is $6.35. The company has a market cap of $65.52 million, a PE ratio of 24.79 and a beta of 0.72.

Broadway Financial (NASDAQ:BYFC) last posted its quarterly earnings data on Tuesday, October 29th. The savings and loans company reported ($0.03) earnings per share for the quarter. The company had revenue of $8.75 million during the quarter. Broadway Financial had a net margin of 5.01% and a return on equity of 2.43%.

Institutional Trading of Broadway Financial

A hedge fund recently raised its stake in Broadway Financial stock. Wittenberg Investment Management Inc. increased its position in shares of Broadway Financial Co. (NASDAQ:BYFC) by 12.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,117 shares of the savings and loans company’s stock after buying an additional 5,566 shares during the period. Wittenberg Investment Management Inc. owned 0.56% of Broadway Financial worth $329,000 at the end of the most recent reporting period. 12.12% of the stock is owned by hedge funds and other institutional investors.

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.