Broadway Financial (NASDAQ:BYFC) Rating Increased to Hold at StockNews.com

Broadway Financial (NASDAQ:BYFCGet Rating) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

BYFC stock opened at $1.26 on Wednesday. The company has a quick ratio of 0.27, a current ratio of 0.98 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average of $1.54 and a 200-day moving average of $1.81. Broadway Financial has a 12-month low of $1.25 and a 12-month high of $4.28.

Broadway Financial (NASDAQ:BYFCGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The savings and loans company reported $0.01 earnings per share for the quarter. Broadway Financial had a return on equity of 0.28% and a net margin of 1.22%. The business had revenue of $7.45 million during the quarter.

A number of hedge funds and other institutional investors have recently made changes to their positions in BYFC. Virtu Financial LLC bought a new position in Broadway Financial during the first quarter valued at $37,000. Goldman Sachs Group Inc. bought a new position in shares of Broadway Financial in the third quarter worth $57,000. Morgan Stanley boosted its holdings in shares of Broadway Financial by 1,822.9% in the third quarter. Morgan Stanley now owns 23,671 shares of the savings and loans company’s stock worth $79,000 after acquiring an additional 22,440 shares during the period. Citadel Advisors LLC boosted its holdings in shares of Broadway Financial by 62.7% in the third quarter. Citadel Advisors LLC now owns 35,862 shares of the savings and loans company’s stock worth $119,000 after acquiring an additional 13,821 shares during the period. Finally, State Street Corp boosted its holdings in shares of Broadway Financial by 94.9% in the first quarter. State Street Corp now owns 77,814 shares of the savings and loans company’s stock worth $124,000 after acquiring an additional 37,896 shares during the period. 16.87% of the stock is owned by institutional investors and hedge funds.

About Broadway Financial (Get Rating)

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, NOW accounts, money market accounts, and fixed-term certificates of deposit.

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