Broadway Financial (NASDAQ:BYFC) Stock Crosses Above 50-Day Moving Average – Here’s Why

Shares of Broadway Financial Corporation (NASDAQ:BYFC – Get Free Report) passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $11.41 and traded as high as $11.84. Broadway Financial shares last traded at $11.84, with a volume of 1,509 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Broadway Financial in a research note on Friday, September 4th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Broadway Financial presently has an average rating of “Sell”.

Read Our Latest Research Report on Broadway Financial

Broadway Financial Stock Down 1.3%

The company has a current ratio of 0.98, a quick ratio of 0.05 and a debt-to-equity ratio of 0.84. The firm has a market cap of $109.78 million, a price-to-earnings ratio of -4.37 and a beta of 0.78. The firm’s 50 day simple moving average is $11.46 and its two-hundred day simple moving average is $9.83.

Hedge Funds Weigh In On Broadway Financial

A hedge fund recently raised its position in Broadway Financial stock. M3F Inc. increased its holdings in Broadway Financial Corporation (NASDAQ:BYFC – Free Report) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 474,685 shares of the savings and loans company’s stock after purchasing an additional 16,117 shares during the quarter. Broadway Financial makes up 0.9% of M3F Inc.’s investment portfolio, making the stock its 21st biggest holding. M3F Inc. owned approximately 5.10% of Broadway Financial worth $3,446,000 as of its most recent SEC filing. 12.12% of the stock is owned by institutional investors and hedge funds.

About Broadway Financial

(Get Free Report)

Broadway Financial Corporation is a bank holding company that operates City First Bank, N.A. The institution provides commercial banking services to businesses, nonprofit organizations and individuals, including deposit accounts, commercial real estate lending, business loans, treasury management and other banking solutions.

The company traces its roots to Broadway Federal Bank, which was founded in 1946 to serve African American communities in Los Angeles. In 2021, Broadway Federal Bank combined with City First Bank, a community development financial institution based in Washington, DC, creating a broader Black-led banking organization.

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