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

StockNews.com assumed coverage on shares of Broadway Financial (NASDAQ:BYFC) in a research report issued on Saturday. The brokerage set a “sell” rating on the savings and loans company’s stock.

Broadway Financial Price Performance

Shares of Broadway Financial stock opened at $5.12 on Friday. The stock has a 50-day simple moving average of $5.81 and a 200-day simple moving average of $6.42. Broadway Financial has a 52-week low of $4.87 and a 52-week high of $8.64. The firm has a market cap of $47.51 million, a price-to-earnings ratio of 10.67 and a beta of 0.59.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in Broadway Financial in the first quarter worth $37,000. Susquehanna International Group LLP bought a new stake in shares of Broadway Financial during the 4th quarter worth about $62,000. Jane Street Group LLC acquired a new position in shares of Broadway Financial during the 2nd quarter valued at about $64,000. State Street Corp increased its holdings in shares of Broadway Financial by 94.9% during the 1st quarter. State Street Corp now owns 77,814 shares of the savings and loans company’s stock valued at $124,000 after acquiring an additional 37,896 shares during the last quarter. Finally, BlackRock Inc. raised its stake in shares of Broadway Financial by 13.0% in the 1st quarter. BlackRock Inc. now owns 98,407 shares of the savings and loans company’s stock valued at $157,000 after acquiring an additional 11,321 shares in the last quarter. Institutional investors and hedge funds own 12.12% of the company’s stock.

Broadway Financial Company Profile

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.