StockNews.com Initiates Coverage on Broadway Financial (NASDAQ:BYFC)

StockNews.com began coverage on shares of Broadway Financial (NASDAQ:BYFC) in a research report released on Saturday. The firm issued a sell rating on the savings and loans company’s stock.

Broadway Financial Stock Performance

Broadway Financial stock opened at $4.82 on Friday. The firm has a market capitalization of $44.73 million, a PE ratio of 10.04 and a beta of 0.59. The business’s 50-day simple moving average is $5.78 and its 200-day simple moving average is $6.38. Broadway Financial has a 52 week low of $4.81 and a 52 week high of $8.64.

Hedge Funds Weigh In On Broadway Financial

Several large investors have recently added to or reduced their stakes in BYFC. Wittenberg Investment Management Inc. increased its position in shares of 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 valued at $169,000 after purchasing an additional 16,328 shares during the period. Renaissance Technologies LLC boosted its stake in Broadway Financial by 30.7% during the first quarter. Renaissance Technologies LLC now owns 307,614 shares of the savings and loans company’s stock worth $323,000 after buying an additional 72,316 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in Broadway Financial during the fourth quarter worth $62,000. Vanguard Group Inc. increased its holdings in Broadway Financial by 71.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,374,463 shares of the savings and loans company’s stock valued at $2,683,000 after buying an additional 992,987 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Broadway Financial during the 2nd quarter worth about $64,000. 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.