Home / Financial / Financials Feel Pain of 6.74% Drop in Shares of Broadway Financial Corporation (BYFC) During Morning Session on September 22

Financials Feel Pain of 6.74% Drop in Shares of Broadway Financial Corporation (BYFC) During Morning Session on September 22

Broadway Financial Corporation (BYFC) lost ground during morning trading on September 22 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the financial sector halfway through the trading day. At the lunch break, shares of BYFC have fallen 6.74% to $1.66 after closing the day prior at $1.78. So far, the stock has traded as high as $1.66 and as low as $1.65. Today’s decline has come with about 2,504 shares changing hands, compared to an average 30-day volume of 12,296 for Broadway Financial Corporation. The price is currently below the 30-day volume weighted average price of $1.65 for BYFC.

The share depreciation gives the company a market capitalization of $51.76 million based upon 29.08 million shares outstanding. It also means that BYFC has a price-to-book ratio of 1.1:1.

In the past 52 weeks, shares of BYFC have traded as low as $1.17 and as high as $2.5. Technical traders will take note that at $1.66, shares of BYFC are trading below their 200-day MA at $1.74 and below their 50-day MA at $1.75. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.

Who is BYFC?

Broadway Financial Corp through its subsidiary, Broadway Federal Bank, provides mainly commercial real estate and residential mortgage loans and a variety of retail deposit products and services to its business and retail customers. The company’s 67 employees are led by CEO Wayne-Kent A. Bradshaw from the corporate headquarters at 5055 Wilshire Boulevard in Los Angeles, CA.

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