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

Broadway Financial Co. (NASDAQ:BYFC) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totalling 5,500 shares, an increase of 14.6% from the December 15th total of 4,800 shares. Based on an average daily volume of 7,800 shares, the short-interest ratio is presently 0.7 days. Approximately 0.1% of the company’s stock are short sold.

Hedge Funds Weigh In On Broadway Financial

An institutional investor recently raised its position in Broadway Financial stock. Wittenberg Investment Management Inc. increased its holdings in Broadway Financial Co. (NASDAQ:BYFC) by 12.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,117 shares of the savings and loans company’s stock after acquiring an additional 5,566 shares during the quarter. Wittenberg Investment Management Inc. owned approximately 0.56% of Broadway Financial worth $329,000 as of its most recent filing with the SEC. 12.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Broadway Financial in a research note on Saturday. They set a “sell” rating on the stock.

Broadway Financial Stock Down 9.7 %

Broadway Financial stock traded down $0.87 during midday trading on Friday, hitting $8.07. 9,767 shares of the company were exchanged, compared to its average volume of 4,996. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.38 and a quick ratio of 0.14. Broadway Financial has a fifty-two week low of $4.41 and a fifty-two week high of $9.46. The company’s fifty day moving average price is $7.20 and its 200-day moving average price is $6.54. The company has a market cap of $73.47 million, a PE ratio of 27.81 and a beta of 0.72.

Broadway Financial (NASDAQ:BYFC) last posted its earnings results on Tuesday, October 29th. The savings and loans company reported ($0.03) EPS for the quarter. The firm had revenue of $8.75 million for the quarter. Broadway Financial had a return on equity of 2.43% and a net margin of 5.01%.

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.