Broadway Financial (NASDAQ:BYFC) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Broadway Financial Co. (NASDAQ:BYFC)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.33 and traded as high as $6.95. Broadway Financial shares last traded at $6.85, with a volume of 3,757 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Broadway Financial in a research note on Thursday. They set a “sell” rating on the stock.

Broadway Financial Trading Down 0.7 %

The stock’s 50 day simple moving average is $6.96 and its two-hundred day simple moving average is $6.33. The stock has a market capitalization of $62.42 million, a PE ratio of 23.62 and a beta of 0.72. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.38 and a quick ratio of 0.14.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Broadway Financial stock. Wittenberg Investment Management Inc. boosted its position in Broadway Financial Co. (NASDAQ:BYFC) by 12.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 51,117 shares of the savings and loans company’s stock after acquiring an additional 5,566 shares during the period. Wittenberg Investment Management Inc. owned 0.56% of Broadway Financial worth $329,000 as of its most recent SEC filing. 12.12% of the stock is currently 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.