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

Broadway Financial Co. (NASDAQ:BYFC) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 6,000 shares, an increase of 50.0% from the September 30th total of 4,000 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 8,200 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Trading of Broadway Financial

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

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Broadway Financial in a research note on Tuesday, October 22nd. They set a “sell” rating for the company.

Broadway Financial Trading Down 0.5 %

Shares of BYFC stock opened at $6.56 on Tuesday. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.34 and a quick ratio of 0.13. The firm has a market cap of $59.90 million, a PE ratio of 21.87 and a beta of 0.72. The company has a 50-day moving average of $6.74 and a two-hundred day moving average of $5.65. Broadway Financial has a 1-year low of $4.41 and a 1-year high of $7.99.

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

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.