Broadway Financial (NASDAQ:BYFC) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Broadway Financial Co. (NASDAQ:BYFC)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.33 and traded as high as $6.95. Broadway Financial shares last traded at $6.85, with a volume of 3,757 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Broadway Financial in a report on Thursday. They set a “sell” rating on the stock.

Broadway Financial Stock Performance

The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.14 and a current ratio of 1.38. The firm has a market capitalization of $65.52 million, a PE ratio of 24.79 and a beta of 0.72. The company’s fifty day moving average price is $6.97 and its two-hundred day moving average price is $6.33.

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

Hedge Funds Weigh In On Broadway Financial

An institutional investor recently raised its position in Broadway Financial stock. Wittenberg Investment Management Inc. increased its holdings in shares of Broadway Financial Co. (NASDAQ:BYFC) by 12.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,117 shares of the savings and loans company’s stock after acquiring an additional 5,566 shares during the quarter. Wittenberg Investment Management Inc. owned approximately 0.56% of Broadway Financial worth $329,000 at the end of the most recent quarter. 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.