Broadway Financial (NASDAQ:BYFC) Stock Price Passes Above Fifty Day Moving Average – What’s Next?

Broadway Financial Corporation (NASDAQ:BYFC)’s stock price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $9.18 and traded as high as $9.70. Broadway Financial shares last traded at $9.58, with a volume of 45,655 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Broadway Financial from a “sell (d+)” rating to a “sell (d-)” rating in a report on Monday, June 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Broadway Financial has an average rating of “Sell”.

Broadway Financial Trading Down 3.2%

The business has a 50-day moving average price of $9.18 and a two-hundred day moving average price of $8.12. The stock has a market capitalization of $88.90 million, a P/E ratio of -3.48 and a beta of 0.82.

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

Insider Activity

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

Institutional Trading of Broadway Financial

An institutional investor recently raised its position in Broadway Financial stock. M3F Inc. boosted its position in Broadway Financial Corporation (NASDAQ:BYFC) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 474,685 shares of the savings and loans company’s stock after acquiring an additional 16,117 shares during the quarter. Broadway Financial accounts for 0.9% of M3F Inc.’s holdings, making the stock its 21st largest holding. M3F Inc. owned 5.10% of Broadway Financial worth $3,446,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 12.12% of the company’s stock.

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.