Broadway Financial Co. (NASDAQ:BYFC – Get Rating) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 208,300 shares, a drop of 5.4% from the August 31st total of 220,100 shares. Based on an average daily volume of 154,400 shares, the short-interest ratio is presently 1.3 days.

Hedge Funds Weigh In On Broadway Financial

Several large investors have recently modified their holdings of BYFC. Virtu Financial LLC purchased a new stake in shares of Broadway Financial in the 1st quarter worth about $37,000. Jane Street Group LLC purchased a new stake in Broadway Financial in the 2nd quarter worth approximately $64,000. State Street Corp increased its holdings in Broadway Financial by 94.9% in the 1st quarter. State Street Corp now owns 77,814 shares of the savings and loans company's stock worth $124,000 after acquiring an additional 37,896 shares in the last quarter. BlackRock Inc. grew its holdings in Broadway Financial by 13.0% during the 1st quarter. BlackRock Inc. now owns 98,407 shares of the savings and loans company's stock valued at $157,000 after buying an additional 11,321 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Broadway Financial in the second quarter valued at $160,000. Hedge funds and other institutional investors own 15.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. TheStreet lowered shares of Broadway Financial from a "c-" rating to a "d+" rating in a report on Monday, July 18th. StockNews.com began coverage on shares of Broadway Financial in a research note on Saturday. They issued a "sell" rating on the stock.

Broadway Financial Stock Performance

Broadway Financial (NASDAQ:BYFC – Get Rating) last issued its earnings results on Monday, August 8th. The savings and loans company reported $0.03 earnings per share (EPS) for the quarter. Broadway Financial had a net margin of 4.83% and a return on equity of 1.13%. The business had revenue of $8.30 million for the quarter.

About Broadway Financial

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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.

Read More

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