Broadway Financial Co. (NASDAQ:BYFC) Sees Significant Increase in Short Interest

Broadway Financial Co. (NASDAQ:BYFC) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 5,500 shares, an increase of 14.6% from the December 15th total of 4,800 shares. Based on an average daily volume of 7,800 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.1% of the company’s stock are short sold.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Broadway Financial stock. Wittenberg Investment Management Inc. increased its position in shares of Broadway Financial Co. (NASDAQ:BYFC) by 12.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,117 shares of the savings and loans company’s stock after purchasing an additional 5,566 shares during the quarter. Wittenberg Investment Management Inc. owned approximately 0.56% of Broadway Financial worth $329,000 as of its most recent filing with the SEC. 12.12% of the stock is owned by institutional investors and hedge funds.

Broadway Financial Stock Down 9.7 %

Shares of Broadway Financial stock traded down $0.87 during trading on Friday, reaching $8.07. The company’s stock had a trading volume of 9,767 shares, compared to its average volume of 4,996. Broadway Financial has a 1-year low of $4.41 and a 1-year high of $9.46. The company has a market cap of $73.47 million, a price-to-earnings ratio of 27.81 and a beta of 0.72. The company has a quick ratio of 0.14, a current ratio of 1.38 and a debt-to-equity ratio of 2.26. The company has a 50-day simple moving average of $7.20 and a two-hundred day simple moving average of $6.54.

Broadway Financial (NASDAQ:BYFC) last issued its earnings results on Tuesday, October 29th. The savings and loans company reported ($0.03) EPS for the quarter. Broadway Financial had a net margin of 5.01% and a return on equity of 2.43%. The firm had revenue of $8.75 million during the quarter.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Broadway Financial in a research report on Saturday. They set a “sell” rating on the stock.

Broadway Financial Company Profile

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.