Broadway Financial (NASDAQ:BYFC) Share Price Passes Above 50-Day Moving Average – What’s Next?

Broadway Financial Corporation (NASDAQ:BYFC) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $9.18 and traded as high as $9.70. Broadway Financial shares last traded at $9.58, with a volume of 45,655 shares trading hands.

Analysts Set New Price Targets

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

Broadway Financial Price Performance

The firm has a market capitalization of $88.53 million, a PE ratio of -3.47 and a beta of 0.82. The company’s fifty day simple moving average is $9.26 and its 200-day simple moving average is $8.16.

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

Insider Transactions at Broadway Financial

In other news, Director Wayne-Kent A. Bradshaw sold 8,600 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Driver sold 6,500 shares of the business’s 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 directly owned 2,711 shares of the company’s stock, valued at $25,374.96. The trade was a 70.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,500 shares of company stock valued at $155,250 over the last 90 days. 3.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Broadway Financial

A hedge fund recently raised its position in Broadway Financial stock. M3F Inc. grew its position in Broadway Financial Corporation (NASDAQ:BYFC) by 19.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 409,685 shares of the savings and loans company’s stock after acquiring an additional 65,463 shares during the period. Broadway Financial comprises 0.8% of M3F Inc.’s portfolio, making the stock its 23rd largest holding. M3F Inc. owned 4.46% of Broadway Financial worth $2,933,000 at the end of the most recent quarter. 12.12% of the stock is currently owned by hedge funds and other institutional investors.

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.