Broadway Financial (NASDAQ:BYFC) Shares Pass Above 200-Day Moving Average – What’s Next?

Broadway Financial Co. (NASDAQ:BYFC)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 trading hands.

Wall Street Analysts Forecast Growth

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

Broadway Financial Stock Performance

The firm has a market cap of $68.34 million, a price-to-earnings ratio of 25.86 and a beta of 0.72. The company has a quick ratio of 0.14, a current ratio of 1.38 and a debt-to-equity ratio of 2.26. The stock has a fifty day moving average price of $7.04 and a 200-day moving average price of $6.41.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Broadway Financial stock. Wittenberg Investment Management Inc. raised its position in Broadway Financial Co. (NASDAQ:BYFC) by 12.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund 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 about 0.56% of Broadway Financial worth $329,000 at the end of the most recent reporting period. 12.12% of the stock is owned by institutional investors and hedge funds.

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.