StockNews.com Initiates Coverage on Broadway Financial (NASDAQ:BYFC)

StockNews.com assumed coverage on shares of Broadway Financial (NASDAQ:BYFC) in a research note issued to investors on Saturday. The brokerage set a “sell” rating on the savings and loans company’s stock.

Broadway Financial Stock Performance

Shares of NASDAQ BYFC opened at $6.15 on Friday. The business’s 50-day moving average price is $6.18 and its two-hundred day moving average price is $5.52. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.34 and a quick ratio of 0.13. Broadway Financial has a one year low of $4.41 and a one year high of $7.98. The company has a market capitalization of $56.16 million, a P/E ratio of 20.50 and a beta of 0.73.

Broadway Financial (NASDAQ:BYFC) last released its quarterly earnings results on Tuesday, July 30th. The savings and loans company reported $0.03 earnings per share (EPS) for the quarter. Broadway Financial had a return on equity of 2.15% and a net margin of 4.66%. The company had revenue of $8.19 million during the quarter.

Institutional Investors Weigh In On Broadway Financial

An institutional investor recently raised its position in Broadway Financial stock. Vanguard Group Inc. increased its holdings in shares of Broadway Financial Co. (NASDAQ:BYFC) by 6.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 346,020 shares of the savings and loans company’s stock after buying an additional 19,918 shares during the quarter. Vanguard Group Inc. owned 3.73% of Broadway Financial worth $1,907,000 as of its most recent SEC filing. 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.