List of Top Publicly Traded Black-Owned Company Stocks
If you’re looking for the best black-owned stocks to buy then take a look at the list below of these companies that you can invest in.
|Urban One Class A
|Urban One Class D
|RLJ Lodging Trust
1. Urban One (NASDAQ: UONE)
Urban One is the largest African-American media company in the United States. The company owns several niche TV, radio, and online assets that cater to the black community with annual revenues of $441 million in 2021.
The company plans to expand its business with the opening of One Casino Resort, a massive casino and entertainment complex with over 100,000 square feet of gaming along with restaurants, live shows, and green space.
Urban One CEO Alfred Liggins proposed to build the casino in Richmond, VA in an effort to provide much-needed economic stimulus in the overwhelmingly black region of Southern Richmond.
However, the Richmond Casino proposal was rejected and many Virginia residents showed no desire for a black-owned casino to operate in the state. The good news is the Richmond City Council voted 8 to 1 to give the Richmond referendum a 2nd shot in November 2022.
UONE has historically been an extremely volatile stock and often soars on unexpectedly high volume due to its low share float.
UONE is one of the few publicly traded companies that trade at an absurd Price to Sales ratio of 0.5 (!). Urban one generates 2x as much annual revenue when compared to its market cap.
There are two different types of Urban One stock: UONE (class A shares) and UONEK (class D shares).
UONE has a smaller float and represents 1 vote per shareholder. UONEK has a much bigger float and represents zero votes as a shareholder.
If you’re looking for a cheap black-owned stock with high upside due to its low float then Urban One is probably your best option on the NASDAQ.
2. Broadway Financial Corporation (NASDAQ: BYFC)
Broadyway Financial Corporation is the oldest black-owned minority bank in the United States that was founded in California to help black consumers gain access to basic banking and loans.
In 2021, Broadyway Financial plans to merge with CityFirst Bank (Washington, DC) to create the largest black-owned bank in America with over $1 billion in assets.
Over the past few years, Broadway Financial increased its deposits and could offer more modern day financial services to the black community.
The merger will be completed in the first half of 2021, making BYFC stock extremely undervalued compared to its long term value and growth potential.
3. Carver Bankcorp (NASDAQ: CARV)
Carver Bank is a black-owned bank based out of New York that serves the minority community. It’s one of the smaller minority banks listed on the NASDAQ and it hasn’t grown that much over the years.
While Carver perhaps experienced a slight increase in deposits during the 2020 protests, I don’t see much growth ahead unless they open more bank branches or seek a merger with another minority bank.
Ready to Get Started?
If black owned stocks sound attractive to you, it’s easy to start investing in these companies right now.
You’ll first need to open a brokerage account, which allows you to buy and sell black owned publicly traded companies.
If you’re not sure where to buy black owned stocks, see our list of best online brokers.