Broadway Financial (NASDAQ:BYFC) Share Price Passes Below 200 Day Moving Average – Should You Sell?

Broadway Financial Corporation (NASDAQ:BYFC)’s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.97 and traded as low as $6.05. Broadway Financial shares last traded at $6.26, with a volume of 34,687 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen initiated coverage on shares of Broadway Financial in a report on Sunday, May 18th. They issued a “sell” rating for the company.

Broadway Financial Stock Up 4.3%

The company has a market cap of $57.09 million, a price-to-earnings ratio of -78.25 and a beta of 0.71. The company has a current ratio of 1.26, a quick ratio of 0.08 and a debt-to-equity ratio of 1.44. The stock has a 50-day simple moving average of $6.36 and a 200-day simple moving average of $6.97.

Broadway Financial (NASDAQ:BYFC) last issued its earnings results on Monday, April 28th. The savings and loans company reported ($0.14) earnings per share for the quarter. Broadway Financial had a return on equity of 1.22% and a net margin of 2.59%. The business had revenue of $8.33 million for the quarter.

Hedge Funds Weigh In On Broadway Financial

Several institutional investors and hedge funds have recently modified their holdings of BYFC. Wittenberg Investment Management Inc. boosted its position in Broadway Financial by 5.4% during the first quarter. Wittenberg Investment Management Inc. now owns 53,882 shares of the savings and loans company’s stock worth $386,000 after purchasing an additional 2,765 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Broadway Financial by 29.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 21,559 shares of the savings and loans company’s stock valued at $148,000 after buying an additional 4,850 shares during the period. Finally, M3F Inc. lifted its position in Broadway Financial by 7.1% in the first quarter. M3F Inc. now owns 267,207 shares of the savings and loans company’s stock worth $1,916,000 after purchasing an additional 17,757 shares during the period. 12.12% of the stock is currently owned by hedge funds and other institutional investors.

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.