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

Broadway Financial Co. (NASDAQ:BYFC) shares crossed 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.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Broadway Financial in a report on Friday. They issued a “sell” rating for the company.

Broadway Financial Price Performance

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 business has a 50-day simple moving average of $7.02 and a two-hundred day simple moving average of $6.41. The stock has a market capitalization of $70.80 million, a price-to-earnings ratio of 26.79 and a beta of 0.72.

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

Institutional Investors Weigh In On Broadway Financial

A hedge fund recently raised its stake in Broadway Financial stock. Wittenberg Investment Management Inc. raised its position in shares of Broadway Financial Co. (NASDAQ:BYFC) by 12.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,117 shares of the savings and loans company’s stock after buying an additional 5,566 shares during the quarter. Wittenberg Investment Management Inc. owned 0.56% of Broadway Financial worth $329,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.