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 on Thursday. The brokerage set a “sell” rating on the savings and loans company’s stock.

Broadway Financial Stock Down 3.0 %

Shares of Broadway Financial stock opened at $4.84 on Thursday. Broadway Financial has a twelve month low of $4.41 and a twelve month high of $8.64. The company has a market cap of $44.92 million, a price-to-earnings ratio of 10.08 and a beta of 0.63. The company’s 50 day moving average is $5.17 and its 200 day moving average is $6.01.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Broadway Financial stock. Wittenberg Investment Management Inc. lifted its holdings in Broadway Financial Co. (NASDAQ:BYFC) by 10.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 about 1.85% of Broadway Financial worth $169,000 at the end of the most recent reporting period. 12.12% of the stock is owned by institutional investors and hedge funds.

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.