Broadway Financial (NASDAQ:BYFC) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• Broadway Financial's stock price crossed above its 200-day moving average of $7.06, reaching a high of $7.71 during trading, where it last settled at $7.80.
• Despite the recent stock price movement, Weiss Ratings has reissued a "sell (d)" rating, indicating that the consensus among analysts remains negative.
• An institutional investor, M3F Inc., increased its stake in Broadway Financial by 28.8%, owning approximately 3.74% of the company by the end of the last quarter.

Broadway Financial Corporation (NASDAQ:BYFC - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.06 and traded as high as $7.71. Broadway Financial shares last traded at $7.80, with a volume of 2,182 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of Broadway Financial in a report on Saturday, September 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Broadway Financial has a consensus rating of "Sell".

Broadway Financial Stock Up 2.4%

The company has a debt-to-equity ratio of 0.65, a current ratio of 1.15 and a quick ratio of 0.03. The stock's fifty day simple moving average is $7.61 and its two-hundred day simple moving average is $7.06. The company has a market capitalization of $71.68 million, a price-to-earnings ratio of -59.96 and a beta of 0.74.

Broadway Financial (NASDAQ:BYFC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The savings and loans company reported ($0.02) earnings per share for the quarter. Broadway Financial had a return on equity of 1.46% and a net margin of 3.18%.

Institutional Trading of Broadway Financial

A hedge fund recently raised its stake in Broadway Financial stock. M3F Inc. increased its position in Broadway Financial Corporation (NASDAQ:BYFC - Free Report) by 28.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 344,222 shares of the savings and loans company's stock after acquiring an additional 77,015 shares during the period. Broadway Financial makes up 0.7% of M3F Inc.'s portfolio, making the stock its 25th biggest position. M3F Inc. owned approximately 3.74% of Broadway Financial worth $2,496,000 at the end of the most recent quarter. 12.12% of the stock is currently owned by institutional investors and hedge funds.

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.

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