Piper Sandler Cuts BCB Bancorp (NASDAQ:BCBP) Price Target to $9.00

BCB Bancorp (NASDAQ:BCBP) had its target price lowered by Piper Sandler from $9.50 to $9.00 in a report released on Thursday morning, BenzingaRatingsTable reports. Piper Sandler currently has a neutral rating on the bank’s stock.

A number of other brokerages also recently issued reports on BCBP. ValuEngine raised BCB Bancorp from a sell rating to a hold rating in a research report on Thursday, July 2nd. Zacks Investment Research downgraded BCB Bancorp from a hold rating to a sell rating in a research report on Tuesday, June 9th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock has an average rating of Hold and an average target price of $9.00.

BCBP stock opened at $8.05 on Thursday. BCB Bancorp has a 52 week low of $7.87 and a 52 week high of $14.50. The company has a market capitalization of $137.31 million, a PE ratio of 9.47 and a beta of 0.64. The company’s 50-day simple moving average is $8.84 and its 200 day simple moving average is $10.48. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.17 and a current ratio of 1.17.

BCB Bancorp (NASDAQ:BCBP) last posted its quarterly earnings data on Monday, July 27th. The bank reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.07. BCB Bancorp had a net margin of 12.39% and a return on equity of 7.28%. The firm had revenue of $19.10 million during the quarter, compared to the consensus estimate of $19.90 million. On average, analysts forecast that BCB Bancorp will post 0.62 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.96%. The ex-dividend date of this dividend is Thursday, August 6th. BCB Bancorp’s dividend payout ratio is presently 46.67%.

In other BCB Bancorp news, Chairman Mark D. Hogan purchased 5,000 shares of the stock in a transaction dated Friday, July 31st. The stock was bought at an average price of $8.13 per share, with a total value of $40,650.00. Following the acquisition, the chairman now owns 502,025 shares of the company’s stock, valued at $4,081,463.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders bought 10,700 shares of company stock worth $92,025. Corporate insiders own 16.53% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of BCBP. Goldman Sachs Group Inc. increased its position in BCB Bancorp by 282.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 57,766 shares of the bank’s stock worth $797,000 after purchasing an additional 42,663 shares in the last quarter. BlackRock Inc. grew its stake in shares of BCB Bancorp by 4.4% during the first quarter. BlackRock Inc. now owns 860,590 shares of the bank’s stock worth $9,164,000 after buying an additional 36,423 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of BCB Bancorp by 25.1% during the fourth quarter. Bank of New York Mellon Corp now owns 143,721 shares of the bank’s stock worth $1,982,000 after buying an additional 28,820 shares in the last quarter. State Street Corp increased its holdings in shares of BCB Bancorp by 8.0% during the first quarter. State Street Corp now owns 329,012 shares of the bank’s stock worth $3,504,000 after buying an additional 24,442 shares in the last quarter. Finally, Aurora Private Wealth Inc. lifted its stake in shares of BCB Bancorp by 92.8% in the 1st quarter. Aurora Private Wealth Inc. now owns 47,149 shares of the bank’s stock valued at $502,000 after acquiring an additional 22,688 shares during the last quarter. Institutional investors own 37.51% of the company’s stock.

About BCB Bancorp

BCB Bancorp, Inc operates as a bank holding company for BCB Community Bank, a state-chartered commercial bank that provides banking products and services to businesses and individuals in the United States. The company offers deposit products, including interest and non-interest bearing demand, NOW, savings and club, money market, term certificate, interest bearing checking, and individual retirement accounts.

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