Broadway Financial Corporation (NASDAQ:BYFC) Short Interest Up 57.2% in July

Broadway Financial Corporation (NASDAQ:BYFC) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 11,777 shares, an increase of 57.2% from the July 15th total of 7,492 shares. Based on an average daily volume of 13,081 shares, the short-interest ratio is currently 0.9 days. Currently, 0.1% of the shares of the company are short sold.

Insiders Place Their Bets

In other news, Director Wayne-Kent A. Bradshaw sold 8,600 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $9.42, for a total transaction of $81,012.00. Following the transaction, the director directly owned 33,359 shares of the company’s stock, valued at $314,241.78. This represents a 20.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.02% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Broadway Financial stock. M3F Inc. lifted its stake in shares of Broadway Financial Corporation (NASDAQ:BYFC) by 3.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 474,685 shares of the savings and loans company’s stock after acquiring an additional 16,117 shares during the quarter. Broadway Financial makes up approximately 0.9% of M3F Inc.’s holdings, making the stock its 21st biggest position. M3F Inc. owned about 5.10% of Broadway Financial worth $3,446,000 at the end of the most recent reporting period. 12.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Broadway Financial from a “sell (d+)” rating to a “sell (d-)” rating in a report on Monday, June 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Broadway Financial currently has a consensus rating of “Sell”.

Broadway Financial Trading Up 0.3%

Shares of Broadway Financial stock opened at $11.60 on Wednesday. The company’s fifty day simple moving average is $10.17 and its 200-day simple moving average is $9.01. The stock has a market capitalization of $107.65 million, a PE ratio of -4.28 and a beta of 0.79. Broadway Financial has a 1-year low of $5.51 and a 1-year high of $12.31. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.98 and a quick ratio of 0.05.

About Broadway Financial

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.