Broadway Financial (NASDAQ:BYFC) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Broadway Financial Corporation (NASDAQ:BYFC)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.26 and traded as high as $7.89. Broadway Financial shares last traded at $7.8450, with a volume of 2,198 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Broadway Financial in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Broadway Financial Price Performance

The company has a debt-to-equity ratio of 1.23, a current ratio of 1.11 and a quick ratio of 0.03. The stock’s 50 day moving average price is $8.12 and its two-hundred day moving average price is $7.26. The firm has a market capitalization of $72.02 million, a price-to-earnings ratio of -2.65 and a beta of 0.73.

Institutional Investors Weigh In On Broadway Financial

An institutional investor recently raised its position in Broadway Financial stock. M3F Inc. lifted its holdings in Broadway Financial Corporation (NASDAQ:BYFC) by 28.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 344,222 shares of the savings and loans company’s stock after purchasing an additional 77,015 shares during the period. Broadway Financial accounts for approximately 0.7% of M3F Inc.’s portfolio, making the stock its 25th biggest holding. M3F Inc. owned 3.74% of Broadway Financial worth $2,496,000 at the end of the most recent quarter. 12.12% of the stock is owned by institutional investors and hedge funds.

Broadway Financial Company Profile

Broadway Financial Corporation is a bank holding company based in Los Angeles, California. Through its wholly owned subsidiary, Broadway Federal Bank, the company provides retail and commercial banking products and services. Its offerings include deposit accounts such as checking, savings and certificates of deposit, along with consumer loans, mortgage financing and small-business lending.

Founded in 1946, Broadway Financial has established a presence throughout the Southern California region, focusing on personalized service for individuals, families and small- to mid-sized enterprises.