Broadway Financial (NASDAQ:BYFC) Receives New Coverage from Analysts at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Broadway Financial (NASDAQ:BYFC) in a research note issued to investors on Sunday. The firm set a “sell” rating on the savings and loans company’s stock.

Broadway Financial Stock Down 3.0 %

Shares of NASDAQ:BYFC opened at $4.88 on Friday. The company has a market cap of $45.29 million, a price-to-earnings ratio of 10.17 and a beta of 0.59. The firm’s 50-day simple moving average is $5.69 and its 200-day simple moving average is $6.32. Broadway Financial has a fifty-two week low of $4.76 and a fifty-two week high of $8.64.

Institutional Trading of Broadway Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Broadway Financial by 0.3% in the third quarter. Vanguard Group Inc. now owns 2,471,931 shares of the savings and loans company’s stock valued at $2,422,000 after purchasing an additional 8,261 shares during the period. BlackRock Inc. raised its position in Broadway Financial by 13.0% during the first quarter. BlackRock Inc. now owns 98,407 shares of the savings and loans company’s stock worth $157,000 after acquiring an additional 11,321 shares during the last quarter. Wittenberg Investment Management Inc. raised its position in Broadway Financial by 10.5% during the third quarter. Wittenberg Investment Management Inc. now owns 172,011 shares of the savings and loans company’s stock worth $169,000 after acquiring an additional 16,328 shares during the last quarter. Virtu Financial LLC acquired a new position in Broadway Financial during the first quarter worth about $37,000. Finally, US Bancorp DE raised its position in Broadway Financial by 22.5% during the first quarter. US Bancorp DE now owns 168,914 shares of the savings and loans company’s stock worth $269,000 after acquiring an additional 31,051 shares during 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.