Short Interest in Broadway Financial Co. (NASDAQ:BYFC) Declines By 10.7%

Broadway Financial Co. (NASDAQ:BYFC) was the recipient of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 7,500 shares, a drop of 10.7% from the January 15th total of 8,400 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily volume of 6,400 shares, the days-to-cover ratio is currently 1.2 days.

Broadway Financial Price Performance

BYFC stock traded up $0.39 during mid-day trading on Monday, reaching $7.79. 3,504 shares of the company’s stock were exchanged, compared to its average volume of 6,426. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.38 and a quick ratio of 0.14. The company has a market cap of $70.97 million, a price-to-earnings ratio of 194.80 and a beta of 0.73. The stock’s 50 day moving average is $7.49 and its 200 day moving average is $6.92. Broadway Financial has a 12-month low of $4.41 and a 12-month high of $9.46.

Broadway Financial (NASDAQ:BYFC) last released its quarterly earnings data on Monday, January 27th. The savings and loans company reported $0.06 earnings per share for the quarter. Broadway Financial had a return on equity of 1.44% and a net margin of 3.02%.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Broadway Financial in a research report on Tuesday, February 11th. They set a “sell” rating for the company.

Institutional Investors Weigh In On Broadway Financial

Several large investors have recently bought and sold shares of BYFC. Wittenberg Investment Management Inc. lifted its position in Broadway Financial by 12.2% in the third quarter. Wittenberg Investment Management Inc. now owns 51,117 shares of the savings and loans company’s stock valued at $329,000 after acquiring an additional 5,566 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Broadway Financial by 29.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 21,559 shares of the savings and loans company’s stock valued at $148,000 after purchasing an additional 4,850 shares during the period. Finally, M3F Inc. raised its holdings in Broadway Financial by 56.7% during the fourth quarter. M3F Inc. now owns 249,450 shares of the savings and loans company’s stock worth $1,709,000 after purchasing an additional 90,299 shares in the last quarter. Hedge funds and other 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.