Broadway Financial (NASDAQ:BYFC) Stock Price Passes Below 200 Day Moving Average – Should You Sell?

Broadway Financial Corporation (NASDAQ:BYFC)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.97 and traded as low as $6.05. Broadway Financial shares last traded at $6.26, with a volume of 34,687 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen assumed coverage on Broadway Financial in a report on Sunday, May 18th. They issued a “sell” rating on the stock.

Broadway Financial Trading Up 4.3%

The stock has a market cap of $57.09 million, a PE ratio of -78.25 and a beta of 0.71. The company has a current ratio of 1.26, a quick ratio of 0.08 and a debt-to-equity ratio of 1.44. The firm has a fifty day simple moving average of $6.36 and a two-hundred day simple moving average of $6.97.

Broadway Financial (NASDAQ:BYFC) last announced its quarterly earnings data on Monday, April 28th. The savings and loans company reported ($0.14) earnings per share for the quarter. The firm had revenue of $8.33 million for the quarter. Broadway Financial had a net margin of 2.59% and a return on equity of 1.22%.

Hedge Funds Weigh In On Broadway Financial

A number of large investors have recently modified their holdings of the company. M3F Inc. raised its holdings in shares of Broadway Financial by 7.1% during the 1st quarter. M3F Inc. now owns 267,207 shares of the savings and loans company’s stock valued at $1,916,000 after buying an additional 17,757 shares in the last quarter. Wittenberg Investment Management Inc. raised its holdings in shares of Broadway Financial by 5.4% during the 1st quarter. Wittenberg Investment Management Inc. now owns 53,882 shares of the savings and loans company’s stock valued at $386,000 after buying an additional 2,765 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of 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 valued at $148,000 after buying an additional 4,850 shares in the last quarter. 12.12% of the stock is owned by hedge funds and other institutional investors.

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.