Piper Sandler Issues Positive Forecast for BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) Stock Price

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) had its price target hoisted by Piper Sandler from $8.50 to $9.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the bank’s stock.

Several other research firms have also recently weighed in on BCBP. Wall Street Zen upgraded shares of BCB Bancorp, Inc. (NJ) from a “strong sell” rating to a “hold” rating in a report on Saturday, January 31st. Keefe, Bruyette & Woods cut their target price on BCB Bancorp, Inc. (NJ) from $9.50 to $9.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BCB Bancorp, Inc. (NJ) in a report on Monday, December 29th. Finally, Zacks Research lowered BCB Bancorp, Inc. (NJ) from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, BCB Bancorp, Inc. (NJ) has an average rating of “Reduce” and a consensus target price of $9.00.

BCB Bancorp, Inc. (NJ) Trading Up 0.6%

Shares of BCB Bancorp, Inc. (NJ) stock opened at $8.40 on Tuesday. The company has a market capitalization of $144.73 million, a P/E ratio of -10.00 and a beta of 0.77. The stock has a fifty day simple moving average of $8.10 and a 200 day simple moving average of $8.25. BCB Bancorp, Inc. has a 12-month low of $7.31 and a 12-month high of $10.64. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.10.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) last posted its quarterly earnings data on Friday, January 30th. The bank reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.87). BCB Bancorp, Inc. (NJ) had a negative return on equity of 4.30% and a negative net margin of 6.90%.The firm had revenue of $26.17 million for the quarter, compared to analysts’ expectations of $25.22 million. On average, sell-side analysts anticipate that BCB Bancorp, Inc. will post 1.24 earnings per share for the current fiscal year.

BCB Bancorp, Inc. (NJ) Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Wednesday, February 11th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, February 11th. BCB Bancorp, Inc. (NJ)’s dividend payout ratio is -76.19%.

Hedge Funds Weigh In On BCB Bancorp, Inc. (NJ)

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in BCB Bancorp, Inc. (NJ) by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 424,874 shares of the bank’s stock valued at $3,429,000 after purchasing an additional 13,161 shares during the last quarter. Goldman Sachs Group Inc. raised its position in BCB Bancorp, Inc. (NJ) by 44.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 127,151 shares of the bank’s stock worth $1,026,000 after purchasing an additional 39,146 shares during the period. Root Financial Partners LLC increased its holdings in shares of BCB Bancorp, Inc. (NJ) by 14.7% in the fourth quarter. Root Financial Partners LLC now owns 82,000 shares of the bank’s stock worth $662,000 after buying an additional 10,500 shares during the period. Millennium Management LLC increased its stake in BCB Bancorp, Inc. (NJ) by 50.5% in the 3rd quarter. Millennium Management LLC now owns 76,102 shares of the bank’s stock worth $661,000 after purchasing an additional 25,530 shares during the period. Finally, Concurrent Investment Advisors LLC purchased a new position in shares of BCB Bancorp, Inc. (NJ) in the fourth quarter worth $525,000. 36.00% of the stock is owned by institutional investors.

BCB Bancorp, Inc. (NJ) Company Profile

BCB Bancorp, Inc is a bank holding company incorporated in New Jersey and traded on the NASDAQ under the symbol BCBP. Its primary subsidiary, Bergen Commercial Bank, operates as a full-service community bank focused on serving the financial needs of individuals and businesses in the New York metropolitan area. Headquartered in Clifton, New Jersey, the company has built its reputation on personalized banking relationships and local decision-making.

BCB Bancorp offers a comprehensive suite of deposit products, including checking accounts, savings accounts, money market accounts, and certificates of deposit.