Broadway Financial Co. (NASDAQ:BYFC – Get Rating) was the target of a sharp drop in short-term interest rates in February. As of February 15, there was short interest totaling 116,700 shares, a decrease of 21.0% from the total of 147,800 shares as of January 31. Based on an average daily volume of 240,200 shares, the day-to-cover ratio is currently 0.5 days.
Hedge funds and other institutional investors have recently been buying and selling stocks. Vanguard Group Inc. increased its holdings in Broadway Financial by 110.2% during the second quarter. Vanguard Group Inc. now owns 1,158,039 shares of the savings and loan company valued at $3,115,000 after buying an additional 607,091 shares last quarter. Geode Capital Management LLC increased its position in Broadway Financial shares by 6.4% during the second quarter. Geode Capital Management LLC now owns 127,243 shares of the savings and loan company worth $342,000 after purchasing an additional 7,649 shares in the last quarter. State Street Corp bought a new stake in Broadway Financial during the 2nd quarter for a value of approximately $81,000. Bank of America Corp DE acquired a new stake in shares of Broadway Financial in Q2, valued at approximately $5,735,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Broadway Financial during Q3 worth approximately $57,000. 14.42% of the shares are held by institutional investors and hedge funds.
Broadway Financial shares opened at $1.54 on Monday. The company has a market capitalization of $110.52 million, a price/earnings ratio of -11.00 and a beta of 0.95. Broadway Financial has a 12-month low of $1.51 and a 12-month high of $4.28. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt ratio of 0.65. The company has a 50-day moving average of $1.99.
Separately, StockNews.com took over coverage of Broadway Financial stocks in a Wednesday, March 2 research note. They issued a “sell” rating on the stock.
About Broadway Financial (Get a rating)
Broadway Financial Corp. is a bank holding company that offers personal accounts, money market, checks and certificates of deposit. It also offers credit cards, online banking, mail banking, gold phone and online bill payment. The company was founded in September 1995 and is based in Los Angeles, California.
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