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

StockNews.com assumed coverage on shares of Broadway Financial (NASDAQ:BYFC – Get Rating) in a note issued to investors on Thursday. The firm set a “sell” rating on the savings and loans company’s stock.

Shares of NASDAQ:BYFC opened at $1.55 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.28 and a current ratio of 1.04. Broadway Financial has a 1 year low of $1.43 and a 1 year high of $4.28. The stock has a market capitalization of $113.09 million, a P/E ratio of -11.07 and a beta of 0.95. The stock has a 50-day simple moving average of $1.56 and a 200-day simple moving average of $2.10.

Broadway Financial (NASDAQ:BYFC – Get Rating) last released its quarterly earnings results on Friday, March 11th. The savings and loans company reported ($0.02) EPS for the quarter. The company had revenue of $6.64 million for the quarter. Broadway Financial had a negative return on equity of 3.49% and a negative net margin of 14.48%.

Large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. acquired a new stake in shares of Broadway Financial in the third quarter valued at $57,000. Geode Capital Management LLC lifted its holdings in shares of Broadway Financial by 78.8% during the third quarter. Geode Capital Management LLC now owns 227,468 shares of the savings and loans company’s stock valued at $755,000 after purchasing an additional 100,225 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Broadway Financial during the third quarter valued at $603,000. Dimensional Fund Advisors LP purchased a new stake in shares of Broadway Financial during the third quarter valued at $200,000. Finally, Morgan Stanley lifted its stake in Broadway Financial by 1,822.9% in the 3rd quarter. Morgan Stanley now owns 23,671 shares of the savings and loans company’s stock worth $79,000 after acquiring an additional 22,440 shares in the last quarter. 16.87% of the stock is owned by institutional investors.

About Broadway Financial (Get Rating)

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, NOW accounts, money market accounts, and fixed-term certificates of deposit.

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