Broadway Financial Co. (NASDAQ:BYFC) Sees Large Increase in Short Interest

Broadway Financial Co. (NASDAQ:BYFC) was the target of a large increase in short interest in February. As of February 15th, there was short interest totalling 9,500 shares, an increase of 26.7% from the January 31st total of 7,500 shares. Based on an average daily trading volume, of 6,000 shares, the short-interest ratio is presently 1.6 days. Approximately 0.2% of the shares of the stock are short sold.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Broadway Financial in a research note on Thursday, February 27th. They set a “sell” rating on the stock.

Broadway Financial Price Performance

Shares of NASDAQ:BYFC traded up $0.14 during midday trading on Wednesday, reaching $7.55. The company’s stock had a trading volume of 1,245 shares, compared to its average volume of 5,136. Broadway Financial has a fifty-two week low of $4.41 and a fifty-two week high of $9.46. The business’s fifty day simple moving average is $7.61 and its 200-day simple moving average is $7.12. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.38 and a quick ratio of 0.14. The company has a market capitalization of $68.76 million, a P/E ratio of 188.70 and a beta of 0.73.

Broadway Financial (NASDAQ:BYFC) last released its quarterly earnings results on Monday, January 27th. The savings and loans company reported $0.06 EPS for the quarter. Broadway Financial had a net margin of 3.02% and a return on equity of 1.44%.

Institutional Investors Weigh In On Broadway Financial

Several hedge funds and other institutional investors have recently made changes to their positions in BYFC. M3F Inc. boosted its holdings in Broadway Financial by 56.7% in the fourth quarter. M3F Inc. now owns 249,450 shares of the savings and loans company’s stock valued at $1,709,000 after acquiring an additional 90,299 shares during the last quarter. Wittenberg Investment Management Inc. lifted its position in Broadway Financial by 12.2% during the 3rd quarter. Wittenberg Investment Management Inc. now owns 51,117 shares of the savings and loans company’s stock valued at $329,000 after purchasing an additional 5,566 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Broadway Financial by 29.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 21,559 shares of the savings and loans company’s stock valued at $148,000 after purchasing an additional 4,850 shares during the last quarter. 12.12% of the stock is owned by institutional investors and hedge funds.

Broadway Financial Company Profile

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.