Broadway Financial (NASDAQ:BYFC) Stock Passes Above Fifty Day Moving Average – Here’s Why

Broadway Financial Corporation (NASDAQ:BYFC) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $9.42 and traded as high as $9.66. Broadway Financial shares last traded at $9.66, with a volume of 1,254 shares.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Broadway Financial from a “sell (d+)” rating to a “sell (d-)” rating in a report on Monday, June 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Broadway Financial Price Performance

The business’s 50 day moving average is $9.42 and its 200-day moving average is $8.27. The company has a market cap of $89.64 million, a PE ratio of -3.51 and a beta of 0.82.

Broadway Financial (NASDAQ:BYFC) last announced its quarterly earnings data on Tuesday, March 31st. The savings and loans company reported $0.04 EPS for the quarter. Broadway Financial had a negative net margin of 31.80% and a positive return on equity of 3.01%. The company had revenue of $9.42 million for the quarter.

Insider Buying and Selling at Broadway Financial

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Broadway Financial stock. M3F Inc. grew its holdings in Broadway Financial Corporation (NASDAQ:BYFC) by 3.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 474,685 shares of the savings and loans company’s stock after acquiring an additional 16,117 shares during the quarter. Broadway Financial comprises 0.9% of M3F Inc.’s investment portfolio, making the stock its 21st biggest holding. M3F Inc. owned about 5.10% of Broadway Financial worth $3,446,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 12.12% of the company’s stock.

About Broadway Financial

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.