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

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

Broadway Financial Trading Up 3.2 %

Shares of NASDAQ BYFC opened at $8.24 on Friday. The firm has a 50 day moving average price of $7.30 and a two-hundred day moving average price of $6.67. The stock has a market cap of $75.06 million, a P/E ratio of 28.41 and a beta of 0.72. Broadway Financial has a 52-week low of $4.41 and a 52-week high of $9.46. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.14 and a current ratio of 1.38.

Broadway Financial (NASDAQ:BYFC) last posted its quarterly earnings data on Monday, January 27th. The savings and loans company reported $0.06 earnings per share for the quarter. Broadway Financial had a return on equity of 2.43% and a net margin of 5.01%.

Hedge Funds Weigh In On Broadway Financial

An institutional investor recently raised its position in Broadway Financial stock. Wittenberg Investment Management Inc. raised its position in Broadway Financial Co. (NASDAQ:BYFC) by 12.2% during the third quarter, according to its most recent 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 period. Wittenberg Investment Management Inc. owned 0.56% of Broadway Financial worth $329,000 as of its most recent filing with the SEC. 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.