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

StockNews.com assumed coverage on shares of Broadway Financial (NASDAQ:BYFC) in a research report sent to investors on Friday morning. The firm issued a sell rating on the savings and loans company’s stock.

Broadway Financial Stock Performance

Shares of BYFC opened at $5.34 on Friday. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.29 and a quick ratio of 0.10. Broadway Financial has a 1 year low of $4.41 and a 1 year high of $8.47. The firm has a market cap of $48.75 million, a PE ratio of 17.80 and a beta of 0.70. The stock’s fifty day moving average price is $5.10 and its two-hundred day moving average price is $5.44.

Broadway Financial (NASDAQ:BYFC) last released its quarterly earnings data on Wednesday, June 5th. The savings and loans company reported $0.31 earnings per share (EPS) for the quarter. Broadway Financial had a return on equity of 2.15% and a net margin of 4.92%. The company had revenue of $11.62 million for the quarter.

Hedge Funds Weigh In On Broadway Financial

A hedge fund recently raised its stake in Broadway Financial stock. Wittenberg Investment Management Inc. raised its holdings in shares of Broadway Financial Co. (NASDAQ:BYFC) by 46.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,128 shares of the savings and loans company’s stock after buying 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 filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 12.12% of the company’s stock.

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.