Broadway Financial Receives Coverage from StockNews with a Sell Rating

Equity research analysts at StockNews.com have commenced coverage on Broadway Financial Corporation (NASDAQ:BYFC), issuing a 'sell' rating for the company's stock. This new rating signifies a cautious perspective on the savings and loans company's stock from the analysts.

Broadway Financial's Current Stock Situation

On the very day the coverage started, Broadway Financial's stock was trading at an opening price of $7.68. The financial institution has been cataloged with a current ratio of 1.13, a quick ratio of 0.02, and a relatively high debt-to-equity ratio of 1.65. With a market capitalization of approximately $71.27 million and a price-to-earnings ratio of 16.00, the company's shares reveal a beta of 0.75—indicating a volatility rate lower than that of the broader market. The company's share price has fluctuated over the past year, hitting a low of $5.12 and reaching a peak at $11.36, with a fifty day moving average of $6.92 and a two hundred day moving average of $7.45.

Investor Interest in Broadway Financial

The company has seen varied activity from institutional investors and hedge funds. Notably, Virtu Financial LLC initiated a new stake valued at $37,000 during the first quarter. Similarly, other entities such as Susquehanna International Group LLP, Wittenberg Investment Management Inc., Jane Street Group LLC, and State Street Corp have taken positions or increased their stakes in recent quarters. State Street Corp notably increased its holdings by 94.9% in the first quarter, now owning 77,814 shares valued at $124,000. Collectively, institutional investors and hedge funds own a 12.79% share in Broadway Financial.

Overview of Broadway Financial Corporation

Broadway Financial Corporation, the parent holding company of City First Bank, National Association, offers a range of banking services in the United States. Their offerings include savings and checking accounts, interest checking accounts, money market accounts, and fixed-term certificates of deposit, fulfilling various customer banking needs.

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