StockNews.com Initiates Coverage on Broadway Financial (NASDAQ:BYFC)

Investment analysts at StockNews.com assumed coverage on shares of Broadway Financial (NASDAQ:BYFC) in a research note issued to investors on Sunday. The brokerage set a “sell” rating on the savings and loans company’s stock.

Broadway Financial Trading Up 7.0 %

Shares of NASDAQ BYFC opened at $5.22 on Friday. Broadway Financial has a 12 month low of $4.76 and a 12 month high of $8.64. The stock has a 50 day moving average of $5.66 and a 200-day moving average of $6.29. The company has a market capitalization of $48.44 million, a P/E ratio of 10.88 and a beta of 0.59.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Broadway Financial stock. Wittenberg Investment Management Inc. increased its position in shares of Broadway Financial Co. (NASDAQ:BYFC) by 10.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and 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 and Exchange Commission. Institutional investors 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.