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

Broadway Financial Co. (NASDAQ:BYFC) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 5,500 shares, an increase of 14.6% from the December 15th total of 4,800 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 7,800 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Investors Weigh In On Broadway Financial

An institutional investor recently raised its position in Broadway Financial stock. Wittenberg Investment Management Inc. lifted its position in shares of Broadway Financial Co. (NASDAQ:BYFC) by 12.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 51,117 shares of the savings and loans company’s stock after purchasing an additional 5,566 shares during the quarter. Wittenberg Investment Management Inc. owned about 0.56% of Broadway Financial worth $329,000 as of its most recent filing with the SEC. 12.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Broadway Financial in a research note on Saturday. They issued a “sell” rating for the company.

Broadway Financial Trading Down 9.7 %

Shares of BYFC stock traded down $0.87 during trading hours on Friday, hitting $8.07. 9,767 shares of the company were exchanged, compared to its average volume of 4,996. The firm has a fifty day moving average of $7.20 and a 200 day moving average of $6.54. The company has a quick ratio of 0.14, a current ratio of 1.38 and a debt-to-equity ratio of 2.26. Broadway Financial has a 1 year low of $4.41 and a 1 year high of $9.46. The firm has a market cap of $73.47 million, a PE ratio of 27.81 and a beta of 0.72.

Broadway Financial (NASDAQ:BYFC) last posted its quarterly earnings results 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 for the quarter. Broadway Financial had a return on equity of 2.43% and a net margin of 5.01%.

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.