Broadway Financial Stock Price Surpasses 200-Day Moving Average - What Does It Mean?

Broadway Financial Co. (NASDAQ:BYFC) saw its stock price cross above the 200-day moving average during trading on Friday. The 200-day moving average stood at $6.54, while the stock traded as high as $9.07 before settling at $8.07, with a trading volume of 9,767 shares.

Stock Alerts for Broadway Financial:

Analyst Ratings Update

In related news, StockNews.com initiated coverage of Broadway Financial in a recent note. They assigned a "sell" rating for the stock, indicating a potentially bearish outlook.

Recent Stock Performance

Broadway Financial's stock has seen a 9.7% decline recently. The company's financial metrics reveal a current ratio of 1.38, a quick ratio of 0.14, and a debt-to-equity ratio of 2.26. The 50-day moving average is at $7.20, while the previously mentioned 200-day average is at $6.54. The company's market capitalization is approximately $73.47 million, the P/E ratio is at 27.81, and the beta stands at 0.72.

On October 29, Broadway Financial announced its quarterly earnings. The company reported an earnings per share (EPS) of ($0.03) for the quarter, with a return on equity of 2.43% and a net margin of 5.01%. Revenue for the quarter reached $8.75 million.

Hedge Fund Activity

Recent activity from hedge funds shows an increase in stakes in Broadway Financial. Wittenberg Investment Management Inc. raised its holdings in Broadway Financial by 12.2% during the third quarter, holding a total of 51,117 shares following an additional purchase of 5,566 shares. This institutional investor represented approximately 0.56% ownership of Broadway Financial, valued at about $329,000 as per the latest SEC filing. Overall, hedge funds and institutional investors presently hold around 12.12% of the company’s shares.

Company Overview

Broadway Financial Corporation operates as the holding company for City First Bank, National Association, which offers various banking products and services across the United States. They provide multiple deposit accounts, such as savings accounts, checking accounts, interest checking accounts, money market accounts, and fixed-term certificates of deposit.

Additional Information

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This information was generated using advanced narrative science technology and financial data to ensure quick and accurate reporting.

Should You Consider Investing in Broadway Financial Now?

Before making any investment in Broadway Financial, it is advisable to consider other options. Current analyst ratings indicate a "hold" for Broadway Financial's stock, while several top-rated analysts suggest five other stocks may present better buying opportunities.

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