Broadway Financial (NASDAQ:BYFC) Stock Price Passes Above Fifty Day Moving Average – What’s Next?

Broadway Financial Corporation (NASDAQ:BYFC)’s share price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $9.18 and traded as high as $9.70. Broadway Financial shares last traded at $9.58, with a volume of 45,655 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Broadway Financial from a “sell (d+)” rating to a “sell (d-)” rating in a report on Monday, June 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Broadway Financial Stock Performance

The company’s fifty day simple moving average is $9.18 and its two-hundred day simple moving average is $8.12. The stock has a market capitalization of $88.90 million, a P/E ratio of -3.48 and a beta of 0.82.

Broadway Financial (NASDAQ:BYFC) last posted its earnings results on Tuesday, March 31st. The savings and loans company reported $0.04 EPS for the quarter. The company had revenue of $9.42 million for the quarter. Broadway Financial had a positive return on equity of 3.01% and a negative net margin of 31.80%.

Insider Buying and Selling at Broadway Financial

In related news, Director Wayne-Kent A. Bradshaw sold 8,600 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $9.42, for a total value of $81,012.00. Following the completion of the sale, the director directly owned 33,359 shares in the company, valued at $314,241.78. The trade was a 20.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Driver sold 6,500 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $9.36, for a total value of $60,840.00. Following the completion of the transaction, the director directly owned 2,711 shares in the company, valued at approximately $25,374.96. This represents a 70.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,500 shares of company stock valued at $155,250 over the last 90 days. 3.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Broadway Financial

A hedge fund recently raised its position in Broadway Financial stock. M3F Inc. lifted its holdings in Broadway Financial Corporation (NASDAQ:BYFC) by 19.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 409,685 shares of the savings and loans company’s stock after acquiring an additional 65,463 shares during the period. Broadway Financial makes up approximately 0.8% of M3F Inc.’s investment portfolio, making the stock its 23rd largest position. M3F Inc. owned about 4.46% of Broadway Financial worth $2,933,000 at the end of the most recent quarter. Institutional investors own 12.12% of the company’s stock.

Broadway Financial Company Profile

Broadway Financial Corporation is a bank holding company based in Los Angeles, California. Through its wholly owned subsidiary, Broadway Federal Bank, the company provides retail and commercial banking products and services. Its offerings include deposit accounts such as checking, savings and certificates of deposit, along with consumer loans, mortgage financing and small-business lending.

Founded in 1946, Broadway Financial has established a presence throughout the Southern California region, focusing on personalized service for individuals, families and small- to mid-sized enterprises.