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

Broadway Financial Co. (NASDAQ:BYFC) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 5,500 shares, an increase of 14.6% from the December 15th total of 4,800 shares. Based on an average trading volume of 7,800 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.1% of the company’s shares are sold short.

Broadway Financial Stock Down 9.7 %

NASDAQ BYFC traded down $0.87 during trading hours on Friday, hitting $8.07. 9,767 shares of the company were exchanged, compared to its average volume of 4,996. The company has a 50 day moving average of $7.20 and a two-hundred day moving average of $6.54. The company has a quick ratio of 0.14, a current ratio of 1.38 and a debt-to-equity ratio of 2.26. The firm has a market cap of $73.47 million, a price-to-earnings ratio of 27.81 and a beta of 0.72. Broadway Financial has a 52-week low of $4.41 and a 52-week high of $9.46.

Broadway Financial (NASDAQ:BYFC) last announced its quarterly earnings data on Tuesday, October 29th. The savings and loans company reported ($0.03) EPS for the quarter. The firm had revenue of $8.75 million during the quarter. Broadway Financial had a net margin of 5.01% and a return on equity of 2.43%.

Institutional Trading of Broadway Financial

A hedge fund recently raised its stake in Broadway Financial stock. Wittenberg Investment Management Inc. grew its stake in Broadway Financial Co. (NASDAQ:BYFC) by 12.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,117 shares of the savings and loans company’s stock after buying an additional 5,566 shares during the period. Wittenberg Investment Management Inc. owned 0.56% of Broadway Financial worth $329,000 at the end of the most recent reporting period. 12.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Broadway Financial in a research note on Saturday. They set a “sell” rating on the stock.

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.