Short Interest in Broadway Financial Co. (NASDAQ:BYFC) Declines By 65.7%

Broadway Financial Co. (NASDAQ:BYFC) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 14,900 shares, a drop of 65.7% from the August 15th total of 43,400 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily volume of 12,300 shares, the short-interest ratio is currently 1.2 days.

Institutional Trading of Broadway Financial

A hedge fund recently raised its stake in Broadway Financial stock. Wittenberg Investment Management Inc. raised its stake in Broadway Financial Co. (NASDAQ:BYFC) by 46.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 36,128 shares of the savings and loans company’s stock after purchasing an additional 11,409 shares during the period. Wittenberg Investment Management Inc. owned 0.39% of Broadway Financial worth $199,000 as of its most recent SEC filing. Institutional investors and hedge funds own 12.12% of the company’s stock.

Broadway Financial Stock Up 0.7 %

Shares of NASDAQ:BYFC traded up $0.05 during trading on Friday, hitting $6.69. The company’s stock had a trading volume of 8,155 shares, compared to its average volume of 8,435. The company has a market capitalization of $61.08 million, a PE ratio of 22.30 and a beta of 0.73. Broadway Financial has a fifty-two week low of $4.41 and a fifty-two week high of $8.24. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.13 and a current ratio of 1.34. The stock’s 50-day moving average price is $5.88 and its two-hundred day moving average price is $5.45.

Broadway Financial (NASDAQ:BYFC) last announced its earnings results on Tuesday, July 30th. The savings and loans company reported $0.03 earnings per share (EPS) for the quarter. Broadway Financial had a return on equity of 2.15% and a net margin of 4.66%. The company had revenue of $8.19 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Broadway Financial in a report on Thursday. They issued a “sell” rating on the 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.