Broadway Financial (NASDAQ:BYFC) Stock Crosses Above 50 Day Moving Average – What’s Next?

Broadway Financial Corporation (NASDAQ:BYFC) shares passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $9.42 and traded as high as $9.66. Broadway Financial shares last traded at $9.66, with a volume of 1,254 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of 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, the stock has a consensus rating of “Sell”.

Broadway Financial Stock Performance

The stock has a 50-day moving average of $9.50 and a 200 day moving average of $8.31. The firm has a market capitalization of $89.60 million, a P/E ratio of -3.51 and a beta of 0.81.

Broadway Financial (NASDAQ:BYFC) last issued its quarterly earnings data on Tuesday, March 31st. The savings and loans company reported $0.04 earnings per share (EPS) for the quarter. The firm had revenue of $9.42 million during the quarter. Broadway Financial had a positive return on equity of 3.01% and a negative net margin of 31.80%.

Insider Transactions at Broadway Financial

In related news, Director John Driver sold 6,500 shares of Broadway Financial stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $9.36, for a total value of $60,840.00. Following the completion of the transaction, the director directly owned 2,711 shares of the company’s stock, valued at $25,374.96. The trade was a 70.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Wayne-Kent A. Bradshaw sold 8,600 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $9.42, for a total transaction of $81,012.00. Following the transaction, the director owned 33,359 shares in the company, valued at approximately $314,241.78. This trade represents a 20.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,500 shares of company stock valued at $155,250 over the last ninety days. 3.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Broadway Financial

An institutional investor recently raised its position in Broadway Financial stock. M3F Inc. increased its stake in shares of Broadway Financial Corporation (NASDAQ:BYFC) by 3.5% during the 1st quarter, according to its most recent Form 13F filing 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 quarter. Broadway Financial comprises about 0.9% of M3F Inc.’s portfolio, making the stock its 21st biggest position. M3F Inc. owned 5.10% of Broadway Financial worth $3,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 12.12% of the stock is currently owned by institutional investors.

About Broadway Financial

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.