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Broadway Financial Corporation's stock soared to a 52-week high this week, reaching a price level of $7.99 USD. With a market capitalization of $66 million, the company's shares are trading at just 0.49 times book value. InvestingPro analysis indicates the stock is trading near its Fair Value, with additional insights available through their comprehensive financial analysis platform. This peak represents a significant milestone for the company, reflecting a robust year-over-year performance. Over the past year, Broadway Financial has witnessed an impressive 22.45% increase in its stock value, with an even more remarkable 55.58% gain over the past six months. InvestingPro subscribers can access additional performance metrics and exclusive insights to better understand the company's momentum and growth trajectory. The achievement of this 52-week high serves as a testament to Broadway Financial's strategic initiatives and operational resilience in a dynamic economic landscape.
In other recent news, Broadway Financial Corporation has made significant changes in its auditing department. The company has recently appointed Crowe LLP as its new independent registered public accounting firm for the fiscal year ending December 31, 2025. This development comes after parting ways with its previous auditor, Moss Adams LLP, which completed its audit for the fiscal year ending December 31, 2024.
In the past, Moss Adams had identified material weaknesses in Broadway Financial's internal control over financial reporting. These issues were discussed thoroughly between the Audit Committee and Moss Adams, leading to remediation efforts.
Despite these internal challenges, Broadway Financial has maintained a revenue growth of 12.14% over the last twelve months. This financial performance, along with a P/E ratio of 24.58, has led to a "FAIR" Financial Health Score as per InvestingPro data. These are the recent developments that investors should keep in mind regarding Broadway Financial Corporation.
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