Broadway Financial (NASDAQ:BYFC) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Broadway Financial Co. (NASDAQ:BYFC)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.41 and traded as high as $7.80. Broadway Financial shares last traded at $7.77, with a volume of 4,129 shares.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Broadway Financial in a research note on Friday. They set a “sell” rating on the stock.

Broadway Financial Trading Up 6.0 %

The company has a market cap of $70.80 million, a price-to-earnings ratio of 26.79 and a beta of 0.72. The firm has a 50-day moving average price of $7.02 and a 200 day moving average price of $6.41. The company has a current ratio of 1.38, a quick ratio of 0.14 and a debt-to-equity ratio of 2.26.

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

Institutional Investors Weigh In On 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 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,117 shares of the savings and loans company’s stock after acquiring an additional 5,566 shares during the period. Wittenberg Investment Management Inc. owned about 0.56% of Broadway Financial worth $329,000 as of its most recent filing with the Securities and Exchange Commission. 12.12% of the stock is currently owned by hedge funds and other 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.