Broadway Financial (NASDAQ:BYFC) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Broadway Financial (NASDAQ:BYFC) in a research note released on Sunday. The brokerage issued a sell rating on the savings and loans company’s stock.

Broadway Financial Price Performance

Shares of NASDAQ BYFC opened at $5.14 on Friday. Broadway Financial has a 1 year low of $4.76 and a 1 year high of $8.64. The stock has a market cap of $47.69 million, a P/E ratio of 10.71 and a beta of 0.59. The firm has a 50-day moving average of $5.63 and a 200 day moving average of $6.28.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Broadway Financial stock. Wittenberg Investment Management Inc. increased its stake in shares of Broadway Financial Co. (NASDAQ:BYFC) by 10.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 172,011 shares of the savings and loans company’s stock after purchasing an additional 16,328 shares during the period. Wittenberg Investment Management Inc. owned approximately 1.85% of Broadway Financial worth $169,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 12.12% of the company’s stock.

About Broadway Financial

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.