Uncovering Institutional Buying In Broadway Financial Corporation (NASDAQ: BYFC)


    BlackRock Fund Advisors recently announced the acquisition of new stake in Broadway Financial Corporation (NASDAQ:BYFC). The institutional investor has increased its shareholding in the Financial company by 715.55% to 54756.0 shares with purchase of 48042.0 shares. This fresh investment now brings its stake to 0.28% valued currently at $93085.0. In addition, Alpine Global Management LLC raised its holdings by 13000.0 to 13000.0 shares. And UBS Securities LLC has lifted its position by 453.30% or 5979.0 shares – to 7298.0 shares.

    With over 1.54 million Broadway Financial Corporation (BYFC) shares trading Friday and a closing price of $1.82 on the day, the dollar volume was approximately $2.8 million. The shares have shown a positive weekly performance of 19.74% and its price on 08/28/20 gained nearly 1.68%. Currently, there are 27.14M common shares owned by the public and among those 5.40M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for BYFC have a consensus price objective of $15.00. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $15.00 should the stock experience a downside. But an upside of 87.87% will see the stock hit the forecast high price target while mean target price for the stock is $15.00.

    Insiders at the company have transacted a total of 10 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 115,303 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.

    The top 3 mutual fund holders in Broadway Financial Corporation are Vanguard Total Stock Market Index, iShares Tr. – Micro Cap ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 0.29 million shares of the company’s stock, all valued at over $0.5 million. Vanguard Extended Market Index Fu bought 4800.0 shares to bring its total holdings to over 27438.0 shares at a value of $46645.0. Vanguard Extended Market Index Fu now owns shares totaling to 0.14% of the shares outstanding.

    Shares of Broadway Financial Corporation (NASDAQ: BYFC) opened at $1.81, up $0.02 from a prior closing price of $1.79. However, the script later closed the day at $1.82, up 1.68%. The company’s stock has a 5-day price change of 19.74% and 30.00% over the past three months. BYFC shares are trading 18.18% year to date (YTD), with the 12-month market performance down to -3.70% lower. It has a 12-month low price of $1.04 and touched a high of $7.23 over the same period. Currently, 1.54 million shares have been traded, compared to an average intraday trading volume of 6.13 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.54%, -9.66%, and 13.80% respectively.

    Institutional ownership of Broadway Financial Corporation (NASDAQ: BYFC) shares accounts for 6.40% of the company’s 27.14M shares outstanding. Mutual fund holders own 1.95%, while other institutional holders and individual stakeholders account for 10.43% and 0.11% respectively.

    It has a market capitalization of $34.51M and a beta (3y monthly) value of 1.01. The earnings-per-share (ttm) stands at -$0.01. The company has a debt-to-equity ratio at 0.08. Price movements for the stock have been influenced by the stock’s volatility, which stands at 11.54% over the week and 9.15% over the month.

    Analysts forecast that Broadway Financial Corporation (BYFC) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for Next Year. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.

    Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”


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