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

Research analysts at StockNews.com assumed coverage on shares of Broadway Financial (NASDAQ:BYFC) in a report issued on Thursday. The brokerage set a “sell” rating on the savings and loans company’s stock.

Broadway Financial Price Performance

Broadway Financial stock opened at $5.51 on Thursday. The business’s 50-day simple moving average is $5.97 and its 200 day simple moving average is $6.55. The stock has a market cap of $51.13 million, a price-to-earnings ratio of 11.48 and a beta of 0.60. Broadway Financial has a 12-month low of $5.12 and a 12-month high of $9.04. The company has a quick ratio of 0.02, a current ratio of 1.13 and a debt-to-equity ratio of 1.65.

Hedge Funds Weigh In On Broadway Financial

Hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in Broadway Financial in the first quarter valued at about $37,000. Susquehanna International Group LLP acquired a new position in Broadway Financial in the fourth quarter valued at about $62,000. Jane Street Group LLC acquired a new position in Broadway Financial in the second quarter valued at about $64,000. State Street Corp lifted its stake in Broadway Financial by 94.9% in the first quarter. State Street Corp now owns 77,814 shares of the savings and loans company’s stock valued at $124,000 after buying an additional 37,896 shares during the period. Finally, BlackRock Inc. lifted its stake in Broadway Financial by 13.0% in the first 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 during the period. Institutional investors and hedge funds own 12.12% of the company’s stock.

About Broadway Financial

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.