Broadway Financial Co. (NASDAQ:BYFC – Get Free Report) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $6.90 and traded as high as $7.78. Broadway Financial shares last traded at $7.01, with a volume of 8,163 shares trading hands.
Wall Street Analysts Forecast Growth
Separately, StockNews.com initiated coverage on Broadway Financial in a research note on Tuesday. They issued a “sell” rating for the company.
Broadway Financial Stock Down 9.4 %
Hedge Funds Weigh In On Broadway Financial
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in Broadway Financial by 13.0% in the 1st quarter. BlackRock Inc. now owns 98,407 shares of the savings and loans company’s stock valued at $157,000 after purchasing an additional 11,321 shares in the last quarter. Wittenberg Investment Management Inc. increased its position in Broadway Financial by 10.5% during the third quarter. Wittenberg Investment Management Inc. now owns 172,011 shares of the savings and loans company’s stock worth $169,000 after buying an additional 16,328 shares in the last quarter. Virtu Financial LLC purchased a new position in Broadway Financial during the first quarter worth $37,000. US Bancorp DE increased its position in Broadway Financial by 22.5% during the first quarter. US Bancorp DE now owns 168,914 shares of the savings and loans company’s stock worth $269,000 after buying an additional 31,051 shares in the last quarter. Finally, State Street Corp increased its position in Broadway Financial by 94.9% during the first quarter. State Street Corp now owns 77,814 shares of the savings and loans company’s stock worth $124,000 after buying an additional 37,896 shares in the last quarter. 12.79% of the stock is owned by hedge funds and other institutional investors.
Broadway Financial Company Profile
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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