BCB Bancorp, Inc. (NASDAQ:BCBP) Sees Large Drop in Short Interest

BCB Bancorp, Inc. (NASDAQ:BCBP) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totalling 80,200 shares, a decrease of 13.2% from the July 15th total of 92,400 shares. Based on an average daily volume of 48,900 shares, the days-to-cover ratio is presently 1.6 days. Currently, 0.5% of the company’s stock are short sold.

BCB Bancorp Stock Performance

Shares of BCBP traded up $0.02 during midday trading on Friday, reaching $11.75. The stock had a trading volume of 35,126 shares, compared to its average volume of 49,779. The firm has a market cap of $199.24 million, a PE ratio of 7.53 and a beta of 0.58. The firm has a 50 day simple moving average of $11.04 and a 200-day simple moving average of $10.58. BCB Bancorp has a one year low of $9.19 and a one year high of $13.90. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.75.

BCB Bancorp (NASDAQ:BCBP) last posted its quarterly earnings results on Friday, July 19th. The bank reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.16). The business had revenue of $20.41 million for the quarter, compared to the consensus estimate of $24.65 million. BCB Bancorp had a return on equity of 7.45% and a net margin of 10.67%. As a group, sell-side analysts anticipate that BCB Bancorp will post 1.18 EPS for the current year.

BCB Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date of this dividend was Friday, August 2nd. BCB Bancorp’s dividend payout ratio (DPR) is presently 41.03%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Piper Sandler increased their price objective on shares of BCB Bancorp from $11.50 to $14.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods increased their price target on BCB Bancorp from $12.00 to $13.00 and gave the company a “market perform” rating in a research report on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, BCB Bancorp presently has a consensus rating of “Hold” and a consensus price target of $13.50.

Insiders Place Their Bets

In related news, Director Tara L. French purchased 2,500 shares of BCB Bancorp stock in a transaction dated Thursday, May 23rd. The stock was bought at an average price of $10.70 per share, for a total transaction of $26,750.00. Following the completion of the acquisition, the director now directly owns 2,500 shares of the company’s stock, valued at $26,750. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other BCB Bancorp news, Director Mark D. Hogan acquired 5,000 shares of the stock in a transaction dated Wednesday, June 5th. The shares were bought at an average cost of $9.90 per share, for a total transaction of $49,500.00. Following the completion of the acquisition, the director now directly owns 88,352 shares of the company’s stock, valued at $874,684.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Tara L. French acquired 2,500 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was acquired at an average cost of $10.70 per share, for a total transaction of $26,750.00. Following the transaction, the director now owns 2,500 shares of the company’s stock, valued at $26,750. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 15,000 shares of company stock worth $153,045. Company insiders own 15.86% of the company’s stock.

Hedge Funds Weigh In On BCB Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BCBP. CWM LLC lifted its stake in shares of BCB Bancorp by 1,232.6% during the 2nd quarter. CWM LLC now owns 2,492 shares of the bank’s stock worth $26,000 after buying an additional 2,305 shares during the last quarter. New York State Common Retirement Fund grew its position in shares of BCB Bancorp by 91.1% in the fourth quarter. New York State Common Retirement Fund now owns 2,727 shares of the bank’s stock valued at $35,000 after purchasing an additional 1,300 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of BCB Bancorp by 92.5% during the first quarter. BNP Paribas Financial Markets now owns 7,201 shares of the bank’s stock worth $75,000 after purchasing an additional 3,460 shares during the period. SG Americas Securities LLC acquired a new stake in BCB Bancorp during the 4th quarter worth approximately $106,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in BCB Bancorp in the 2nd quarter valued at $119,000. 36.00% of the stock is owned by institutional investors.

BCB Bancorp Company Profile

BCB Bancorp, Inc operates as a bank holding company for BCB Community Bank that engages in the provision of banking products and services to businesses and individuals in the United States. The company offers insured deposit products, including savings and club accounts, interest and non-interest-bearing demand accounts, money market accounts, certificates of deposit, and individual retirement accounts.