Broadway Financial (NASDAQ:BYFC) Releases Quarterly Earnings Results

Broadway Financial (NASDAQ:BYFC) released its earnings results on Tuesday. The savings and loans company reported $0.04 earnings per share (EPS) for the quarter, FiscalAI reports. Broadway Financial had a positive return on equity of 1.41% and a negative net margin of 36.31%.The business had revenue of $9.42 million for the quarter.

Broadway Financial Price Performance

Shares of NASDAQ:BYFC opened at $7.26 on Wednesday. The company has a quick ratio of 0.03, a current ratio of 1.11 and a debt-to-equity ratio of 1.23. The company has a market cap of $66.65 million, a P/E ratio of -2.45 and a beta of 0.73. Broadway Financial has a 52 week low of $5.51 and a 52 week high of $8.85. The company has a 50-day moving average price of $7.99 and a 200 day moving average price of $7.24.

Hedge Funds Weigh In On Broadway Financial

A hedge fund recently raised its stake in Broadway Financial stock. M3F Inc. raised its position in Broadway Financial Corporation (NASDAQ:BYFC) by 28.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 344,222 shares of the savings and loans company’s stock after purchasing an additional 77,015 shares during the period. Broadway Financial comprises approximately 0.7% of M3F Inc.’s portfolio, making the stock its 25th biggest holding. M3F Inc. owned 3.74% of Broadway Financial worth $2,496,000 at the end of the most recent quarter. 12.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Broadway Financial in a research report on Friday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

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.