Broadway Financial Co. (NASDAQ:BYFC) Sees Large Growth in Short Interest

Broadway Financial Co. (NASDAQ:BYFC) saw a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 5,500 shares, a growth of 37.5% from the April 30th total of 4,000 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average trading volume of 5,900 shares, the days-to-cover ratio is presently 0.9 days.

Analysts Set New Price Targets

Separately, Wall Street Zen initiated coverage on Broadway Financial in a report on Sunday, May 18th. They set a “sell” rating for the company.

Hedge Funds Weigh In On Broadway Financial

A number of institutional investors and hedge funds have recently bought and sold shares of BYFC. Dimensional Fund Advisors LP increased its holdings in Broadway Financial by 29.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 21,559 shares of the savings and loans company’s stock worth $148,000 after purchasing an additional 4,850 shares in the last quarter. M3F Inc. increased its holdings in Broadway Financial by 56.7% in the 4th quarter. M3F Inc. now owns 249,450 shares of the savings and loans company’s stock worth $1,709,000 after purchasing an additional 90,299 shares in the last quarter. Finally, Wittenberg Investment Management Inc. grew its position in shares of Broadway Financial by 5.4% in the 1st quarter. Wittenberg Investment Management Inc. now owns 53,882 shares of the savings and loans company’s stock valued at $386,000 after buying an additional 2,765 shares during the last quarter. Institutional investors and hedge funds own 12.12% of the company’s stock.

Broadway Financial Price Performance

Shares of NASDAQ BYFC opened at $6.30 on Wednesday. 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 has a fifty-two week low of $4.68 and a fifty-two week high of $9.46. The stock has a market capitalization of $57.46 million, a PE ratio of 157.54 and a beta of 0.73. The business has a fifty day moving average price of $6.43 and a two-hundred day moving average price of $7.05.

Broadway Financial (NASDAQ:BYFC) last posted its quarterly earnings results on Monday, April 28th. The savings and loans company reported ($0.14) EPS for the quarter. Broadway Financial had a return on equity of 1.44% and a net margin of 3.02%. The business had revenue of $8.33 million for the quarter.

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.