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

Shares of Broadway Financial Co. (NASDAQ:BYFC) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.54 and traded as high as $9.07. Broadway Financial shares last traded at $8.07, with a volume of 9,767 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Broadway Financial in a research note on Saturday. They set a “sell” rating for the company.

Broadway Financial Trading Down 9.7 %

The company has a debt-to-equity ratio of 2.26, a current ratio of 1.38 and a quick ratio of 0.14. The business’s 50 day moving average is $7.20 and its 200 day moving average is $6.54. The stock has a market cap of $73.47 million, a price-to-earnings ratio of 27.81 and a beta of 0.72.

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 (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.

Hedge Funds Weigh In On Broadway Financial

A hedge fund recently raised its stake in Broadway Financial stock. Wittenberg Investment Management Inc. raised its stake in Broadway Financial Co. (NASDAQ:BYFC) by 12.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 0.56% of Broadway Financial worth $329,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.