Short Interest in Broadway Financial Corporation (NASDAQ:BYFC) Expands By 57.2%

Broadway Financial Corporation (NASDAQ:BYFC) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 11,777 shares, an increase of 57.2% from the July 15th total of 7,492 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily volume of 13,081 shares, the days-to-cover ratio is presently 0.9 days.

Insiders Place Their Bets

In other Broadway Financial news, Director Wayne-Kent A. Bradshaw sold 8,600 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $9.42, for a total transaction of $81,012.00. Following the completion of the transaction, the director directly owned 33,359 shares of the company’s stock, valued at $314,241.78. The trade was a 20.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Broadway Financial stock. M3F Inc. boosted its holdings in shares of Broadway Financial Corporation (NASDAQ:BYFC) by 3.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 474,685 shares of the savings and loans company’s stock after purchasing an additional 16,117 shares during the period. Broadway Financial makes up approximately 0.9% of M3F Inc.’s holdings, making the stock its 21st biggest position. M3F Inc. owned about 5.10% of Broadway Financial worth $3,446,000 as of its most recent SEC filing. Institutional investors own 12.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Broadway Financial from a “sell (d+)” rating to a “sell (d-)” rating in a report on Monday, June 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Broadway Financial has a consensus rating of “Sell”.

Broadway Financial Trading Up 0.3%

Broadway Financial stock opened at $11.60 on Thursday. The firm has a 50 day simple moving average of $10.20 and a 200-day simple moving average of $9.04. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.98 and a quick ratio of 0.05. The stock has a market capitalization of $107.65 million, a PE ratio of -4.28 and a beta of 0.79. Broadway Financial has a 12-month low of $5.51 and a 12-month high of $12.31.

Broadway Financial Company Profile

Broadway Financial Corporation is a bank holding company based in Los Angeles, California. Through its wholly owned subsidiary, Broadway Federal Bank, the company provides retail and commercial banking products and services. Its offerings include deposit accounts such as checking, savings and certificates of deposit, along with consumer loans, mortgage financing and small-business lending.

Founded in 1946, Broadway Financial has established a presence throughout the Southern California region, focusing on personalized service for individuals, families and small- to mid-sized enterprises.