Broadway Financial (NASDAQ:BYFC) Shares Pass Above 200-Day Moving Average – What’s Next?

Broadway Financial Co. (NASDAQ:BYFC)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.41 and traded as high as $7.80. Broadway Financial shares last traded at $7.77, with a volume of 4,129 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Broadway Financial in a report on Friday. They issued a “sell” rating on the stock.

Broadway Financial Price Performance

The company has a quick ratio of 0.14, a current ratio of 1.38 and a debt-to-equity ratio of 2.26. The company has a market cap of $68.34 million, a price-to-earnings ratio of 25.86 and a beta of 0.72. The company has a fifty day simple moving average of $7.04 and a two-hundred day simple moving average of $6.41.

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

Hedge Funds Weigh In On Broadway Financial

A hedge fund recently raised its stake in Broadway Financial stock. Wittenberg Investment Management Inc. grew its position in Broadway Financial Co. (NASDAQ:BYFC) by 12.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 0.56% of Broadway Financial worth $329,000 as of its most recent SEC filing. Hedge funds and other institutional investors 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.