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

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

Broadway Financial Trading Down 9.7 %

NASDAQ BYFC opened at $8.07 on Friday. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.38 and a quick ratio of 0.14. The stock has a market capitalization of $73.47 million, a P/E ratio of 27.81 and a beta of 0.72. The firm’s 50-day moving average is $7.20 and its two-hundred day moving average is $6.54. Broadway Financial has a 12 month low of $4.41 and a 12 month high of $9.46.

Broadway Financial (NASDAQ:BYFC) last released its quarterly earnings results on Tuesday, October 29th. The savings and loans company reported ($0.03) earnings per share (EPS) for the quarter. The company had revenue of $8.75 million during the quarter. Broadway Financial had a net margin of 5.01% and a return on equity of 2.43%.

Institutional Investors Weigh In On Broadway Financial

An institutional investor recently raised its position in Broadway Financial stock. Wittenberg Investment Management Inc. grew its holdings in shares of Broadway Financial Co. (NASDAQ:BYFC) by 12.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,117 shares of the savings and loans company’s stock after purchasing an additional 5,566 shares during the period. Wittenberg Investment Management Inc. owned about 0.56% of Broadway Financial worth $329,000 as of its most recent SEC filing. Institutional investors and hedge funds own 12.12% of the company’s stock.

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.