Broadway Financial (NASDAQ:BYFC) Releases Quarterly Earnings Results

Broadway Financial (NASDAQ:BYFC) announced its earnings results on Tuesday. The savings and loans company reported $0.02 earnings per share (EPS) for the quarter, Zacks reports. Broadway Financial had a negative net margin of 29.36% and a positive return on equity of 3.49%. The business had revenue of $10.44 million for the quarter.

Broadway Financial Stock Performance

Shares of BYFC stock opened at $10.02 on Thursday. The firm has a market cap of $92.99 million, a P/E ratio of -3.70 and a beta of 0.81. Broadway Financial has a one year low of $5.51 and a one year high of $10.46. The firm’s 50 day moving average price is $9.76 and its 200-day moving average price is $8.74.

Analysts Set New Price Targets

Separately, Weiss Ratings cut 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, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Insider Activity

In other Broadway Financial news, Director John Driver sold 6,500 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $9.36, for a total value of $60,840.00. Following the transaction, the director directly owned 2,711 shares in the company, valued at $25,374.96. This represents a 70.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Wayne-Kent A. Bradshaw sold 8,600 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $9.42, for a total transaction of $81,012.00. Following the completion of the sale, the director owned 33,359 shares of the company’s stock, valued at approximately $314,241.78. This trade represents a 20.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,500 shares of company stock worth $155,250 in the last three months. Corporate insiders own 3.02% of the company’s stock.

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.