StockNews.com launches coverage on Broadway Financial (NASDAQ:BYFC)


StockNews.com began covering stocks of Broadway Financial (NASDAQ: BYFC – Get an appraisal) in a research note published Wednesday. The company has placed a “sell” rating on the shares of the savings and loan company.

NASDAQ:BYFC opened at $1.45 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt ratio of 0.65. The company has a 50-day simple moving average of $1.59. The company has a market capitalization of $105.79 million, a price-earnings ratio of -10.36 and a beta of 0.95. Broadway Financial has a 12-month low of $1.44 and a 12-month high of $4.28.

Broadway Financial (NASDAQ:BYFC – Get Rating) last released quarterly earnings data on Friday, March 11. The savings and loan company reported ($0.02) earnings per share (EPS) for the quarter. The company had revenue of $6.64 million in the quarter. Broadway Financial had a negative net margin of 14.48% and a negative return on equity of 3.73%.

Several institutional investors have recently bought and sold shares of the company. Philadelphia Financial Management of San Francisco LLC increased its position in shares of Broadway Financial by 21.3% in the fourth quarter. Philadelphia Financial Management of San Francisco LLC now owns 2,264,083 shares of the savings and loan company valued at $5,230,000 after buying 397,787 additional shares in the last quarter. Grace & White Inc. NY increased its position in shares of Broadway Financial by 2.9% in the first quarter. Grace & White Inc. NY now owns 1,112,714 shares of the savings and loan company valued at $1,769,000 after buying 31,051 additional shares in the last quarter. Geode Capital Management LLC increased its position in Broadway Financial shares by 10.6% in the fourth quarter. Geode Capital Management LLC now owns 251,645 shares of the savings and loan company valued at $581,000 after purchasing an additional 24,177 shares in the last quarter. Renaissance Technologies LLC acquired a new stock position in Broadway Financial in the third quarter valued at approximately $603,000. Finally, Millennium Management LLC acquired a new stock position in Broadway Financial in the third quarter valued at approximately $365,000. 14.42% of the shares are currently held by institutional investors.

Broadway Financial Company Profile (Get an evaluation)

Broadway Financial Corporation operates as a holding company for City First Bank, National Association which 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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