Broadway Financial Co. (NASDAQ:BYFC) Sees Significant Drop in Short Interest

Broadway Financial Co. (NASDAQ:BYFC - Get Free Report) saw a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 7,500 shares, a drop of 10.7% from the January 15th total of 8,400 shares. Based on an average daily trading volume, of 6,400 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.2% of the shares of the company are sold short.

Institutional Investors Weigh In On Broadway Financial

A number of institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Broadway Financial by 29.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 21,559 shares of the savings and loans company's stock worth $148,000 after buying an additional 4,850 shares in the last quarter. Wittenberg Investment Management Inc. grew its stake in Broadway Financial by 12.2% during the third quarter. Wittenberg Investment Management Inc. now owns 51,117 shares of the savings and loans company's stock valued at $329,000 after acquiring an additional 5,566 shares in the last quarter. Finally, M3F Inc. lifted its stake in Broadway Financial by 56.7% in the 4th quarter. M3F Inc. now owns 249,450 shares of the savings and loans company's stock worth $1,709,000 after purchasing an additional 90,299 shares in the last quarter. 12.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Broadway Financial in a research note on Wednesday. They issued a "sell" rating for the company.

Broadway Financial Stock Performance

Shares of BYFC stock traded down $0.08 during trading hours on Friday, reaching $7.64. 2,660 shares of the company traded hands, compared to its average volume of 5,787. The firm has a 50-day moving average price of $7.54 and a 200 day moving average price of $6.98. The company has a market cap of $69.61 million, a P/E ratio of 191.07 and a beta of 0.73. Broadway Financial has a 12-month low of $4.41 and a 12-month high of $9.46. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.38 and a quick ratio of 0.14.

Broadway Financial (NASDAQ:BYFC - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The savings and loans company reported $0.06 earnings per share (EPS) for the quarter. Broadway Financial had a net margin of 3.02% and a return on equity of 1.44%.

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.