Broadway Financial (NASDAQ:BYFC) Stock Passes Below 200 Day Moving Average – Here’s Why

Shares of Broadway Financial Co. (NASDAQ:BYFC) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.03 and traded as low as $6.06. Broadway Financial shares last traded at $6.13, with a volume of 1,648 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen began coverage on shares of Broadway Financial in a research note on Sunday, May 18th. They issued a “sell” rating on the stock.

Broadway Financial Trading Up 0.3%

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 stock has a market cap of $55.91 million, a PE ratio of 153.29 and a beta of 0.71. The company’s 50-day moving average price is $6.36 and its 200 day moving average price is $7.03.

Broadway Financial (NASDAQ:BYFC) last released its quarterly earnings results on Monday, April 28th. The savings and loans company reported ($0.14) earnings per share (EPS) for the quarter. The company had revenue of $8.33 million during the quarter. Broadway Financial had a net margin of 3.02% and a return on equity of 1.44%.

Institutional Trading of Broadway Financial

A number of institutional investors and hedge funds have recently bought and sold shares of BYFC. Dimensional Fund Advisors LP increased its holdings in Broadway Financial by 29.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 21,559 shares of the savings and loans company’s stock worth $148,000 after purchasing an additional 4,850 shares during the period. M3F Inc. grew its stake in Broadway Financial by 56.7% during the 4th quarter. M3F Inc. now owns 249,450 shares of the savings and loans company’s stock worth $1,709,000 after buying an additional 90,299 shares during the last quarter. Finally, Wittenberg Investment Management Inc. grew its position in shares of Broadway Financial by 5.4% during the first quarter. Wittenberg Investment Management Inc. now owns 53,882 shares of the savings and loans company’s stock worth $386,000 after acquiring an additional 2,765 shares during the last quarter. 12.12% of the stock is currently 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.