Broadway Financial Corporation (NASDAQ:BYFC) Short Interest Up 23.9% in April

Key Points

• Short interest rose 23.9% in April to 15,194 shares (about 0.2% of shares) with a days-to-cover ratio of 8.2, up from 12,260 shares at March 31.
• Weiss Ratings reiterated a Sell (d) on Broadway Financial and MarketBeat data shows a consensus Sell rating for the stock.
• Institutional investor M3F Inc. increased its stake by 19% and now owns 4.46% of the company, while institutional investors hold about 12.12% of shares outstanding.

Broadway Financial Corporation (NASDAQ:BYFC - Get Free Report) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totaling 15,194 shares, an increase of 23.9% from the March 31st total of 12,260 shares. Approximately 0.2% of the company's shares are sold short. Based on an average daily trading volume, of 1,845 shares, the days-to-cover ratio is presently 8.2 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of Broadway Financial in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Broadway Financial currently has a consensus rating of "Sell".

Broadway Financial Trading Up 0.3%

Broadway Financial stock traded up $0.02 during trading on Wednesday, hitting $7.88. The company had a trading volume of 1,822 shares, compared to its average volume of 3,398. Broadway Financial has a 1-year low of $5.51 and a 1-year high of $8.85. The company has a current ratio of 1.03, a quick ratio of 0.02 and a debt-to-equity ratio of 0.64. The company's 50 day simple moving average is $7.78 and its 200-day simple moving average is $7.29. The stock has a market cap of $73.32 million, a price-to-earnings ratio of -2.65 and a beta of 0.67.

Broadway Financial (NASDAQ:BYFC - Get Free Report) last posted its earnings results on Tuesday, April 28th. The savings and loans company reported $0.09 earnings per share for the quarter. Broadway Financial had a negative net margin of 36.37% and a positive return on equity of 1.26%. The firm had revenue of $10.15 million during the quarter.

Institutional Trading of Broadway Financial

An institutional investor recently raised its position in Broadway Financial stock. M3F Inc. boosted its stake in Broadway Financial Corporation (NASDAQ:BYFC - Free Report) by 19.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 409,685 shares of the savings and loans company's stock after purchasing an additional 65,463 shares during the period. Broadway Financial comprises approximately 0.8% of M3F Inc.'s portfolio, making the stock its 23rd largest position. M3F Inc. owned 4.46% of Broadway Financial worth $2,933,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 12.12% of the company's stock.

Broadway Financial Company Profile

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.

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