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

Broadway Financial Co. (NASDAQ:BYFC) shares 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 changing hands.

Analyst Upgrades and Downgrades

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

Broadway Financial Trading Up 6.0 %

The company has a market cap of $70.80 million, a PE ratio of 26.79 and a beta of 0.72. 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 company has a 50 day simple moving average of $7.02 and a two-hundred day simple moving average of $6.41.

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. The company had revenue of $8.75 million during the quarter. Broadway Financial had a net margin of 5.01% and a return on equity of 2.43%.

Institutional Trading of Broadway Financial

A hedge fund recently raised its stake in Broadway Financial stock. Wittenberg Investment Management Inc. grew 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 filing with the Securities and Exchange Commission (SEC). The fund 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 approximately 0.56% of Broadway Financial worth $329,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 12.12% of the stock is owned by hedge funds and other institutional investors.

Broadway Financial Company Profile

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.