Broadway Financial (NASDAQ:BYFC) Shares Pass Above 50 Day Moving Average – Time to Sell?

Broadway Financial Corporation (NASDAQ:BYFC)’s share price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $9.42 and traded as high as $9.66. Broadway Financial shares last traded at $9.66, with a volume of 1,254 shares trading hands.

Analyst Ratings Changes

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

Broadway Financial Trading Down 4.1%

The stock has a market capitalization of $89.64 million, a price-to-earnings ratio of -3.51 and a beta of 0.82. The firm’s fifty day moving average price is $9.42 and its 200 day moving average price is $8.27.

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

Insider Activity

In related news, Director John Driver sold 6,500 shares of Broadway Financial stock in a transaction that occurred 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 owned 2,711 shares in the company, valued at approximately $25,374.96. The trade was a 70.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Wayne-Kent A. Bradshaw sold 8,600 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $9.42, for a total transaction of $81,012.00. Following the sale, the director directly owned 33,359 shares in the company, valued at approximately $314,241.78. The trade was a 20.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 16,500 shares of company stock worth $155,250 in the last three months. Corporate insiders own 3.02% of the company’s stock.

Hedge Funds Weigh In On Broadway Financial

An institutional investor recently raised its stake in Broadway Financial stock. M3F Inc. lifted its stake in shares of Broadway Financial Corporation (NASDAQ:BYFC) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 474,685 shares of the savings and loans company’s stock after acquiring an additional 16,117 shares during the quarter. Broadway Financial accounts for about 0.9% of M3F Inc.’s portfolio, making the stock its 21st largest position. M3F Inc. owned 5.10% of Broadway Financial worth $3,446,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 12.12% of the company’s stock.

About Broadway Financial

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.