Broadway Financial Co. (NASDAQ:BYFC – Get Rating) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 220,100 shares, a drop of 20.9% from the August 15th total of 278,100 shares. Currently, 2.5% of the shares of the company are short sold. Based on an average daily volume of 239,500 shares, the short-interest ratio is currently 0.9 days.
Broadway Financial Stock Up 2.7 %
Shares of NASDAQ:BYFC opened at $1.14 on Friday. The company has a market cap of $86.78 million, a price-to-earnings ratio of 57.03 and a beta of 0.94. The firm's 50-day simple moving average is $1.06 and its 200-day simple moving average is $1.33. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. Broadway Financial has a fifty-two week low of $0.88 and a fifty-two week high of $4.28.
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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 for the quarter. The business had revenue of $8.30 million for the quarter. Broadway Financial had a net margin of 4.83% and a return on equity of 1.13%.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on BYFC shares. TheStreet downgraded shares of Broadway Financial from a "c-" rating to a "d+" rating in a research report on Monday, July 18th. StockNews.com began coverage on shares of Broadway Financial in a report on Thursday. They issued a "sell" rating on the stock.
Institutional Trading of Broadway Financial
Several hedge funds and other institutional investors have recently made changes to their positions in BYFC. Vanguard Group Inc. lifted its stake in shares of Broadway Financial by 60.8% in the first quarter. Vanguard Group Inc. now owns 1,882,843 shares of the savings and loans company's stock valued at $2,994,000 after purchasing an additional 711,808 shares during the period. Philadelphia Financial Management of San Francisco LLC lifted its stake in shares of Broadway Financial by 30.6% in the first quarter. Philadelphia Financial Management of San Francisco LLC now owns 2,956,478 shares of the savings and loans company's stock valued at $4,701,000 after purchasing an additional 692,395 shares during the period. US Bancorp DE lifted its stake in shares of Broadway Financial by 161.9% in the second quarter. US Bancorp DE now owns 442,334 shares of the savings and loans company's stock valued at $469,000 after purchasing an additional 273,420 shares during the period. Grace & White Inc. NY lifted its stake in shares of Broadway Financial by 24.6% in the second quarter. Grace & White Inc. NY now owns 1,386,134 shares of the savings and loans company's stock valued at $1,469,000 after purchasing an additional 273,420 shares during the period. Finally, Millennium Management LLC acquired a new stake in shares of Broadway Financial in the second quarter valued at about $160,000. Institutional investors and hedge funds own 15.08% of the company's stock.
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.
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