Broadway Financial (NASDAQ:BYFC) Coverage Initiated at StockNews.com

Posted by ABMN Staff on Dec 2nd, 2024

StockNews.com initiated coverage on shares of Broadway Financial (NASDAQ:BYFC – Free Report) in a research note released on Sunday morning. The brokerage issued a sell rating on the savings and loans company’s stock.

Broadway Financial Stock Performance

Shares of BYFC opened at $7.04 on Friday. The company has a current ratio of 1.38, a quick ratio of 0.14 and a debt-to-equity ratio of 2.26. The stock has a market capitalization of $64.13 million, a P/E ratio of 24.28 and a beta of 0.71. The firm’s fifty day simple moving average is $6.75 and its two-hundred day simple moving average is $5.99. Broadway Financial has a 12 month low of $4.41 and a 12 month high of $7.99.

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

Hedge Funds Weigh In On Broadway Financial

A hedge fund recently raised its stake in Broadway Financial stock. Vanguard Group Inc. increased its holdings in Broadway Financial Co. (NASDAQ:BYFC – Free Report) by 6.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 346,020 shares of the savings and loans company’s stock after acquiring an additional 19,918 shares during the period. Vanguard Group Inc. owned about 3.73% of Broadway Financial worth $1,907,000 at the end of the most recent quarter. 12.12% of the stock is currently owned by hedge funds and other institutional investors.

About Broadway Financial

(Get Free Report)

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.