Piper Sandler Has Lowered Expectations for BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) Stock Price

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) had its price target dropped by research analysts at Piper Sandler from $11.00 to $9.50 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. Piper Sandler’s target price would suggest a potential upside of 9.57% from the stock’s previous close.

Several other analysts have also recently commented on BCBP. Brean Capital cut shares of BCB Bancorp, Inc. (NJ) from a “buy” rating to a “neutral” rating and set a $9.00 target price for the company. in a research note on Friday, September 18th. Wall Street Zen lowered shares of BCB Bancorp, Inc. (NJ) from a “sell” rating to a “strong sell” rating in a research note on Saturday. Keefe, Bruyette & Woods cut their price target on shares of BCB Bancorp, Inc. (NJ) from $11.00 to $8.35 and set a “market perform” rating for the company in a report on Thursday, September 17th. Finally, Weiss Ratings lowered BCB Bancorp, Inc. (NJ) from a “hold (c-)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $8.95.

BCB Bancorp, Inc. (NJ) Trading Down 0.3%

Shares of BCBP stock opened at $8.67 on Monday. The company has a market capitalization of $156.93 million, a P/E ratio of -7.88 and a beta of 0.69. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average is $9.14 and its two-hundred day moving average is $9.58. BCB Bancorp, Inc. has a twelve month low of $7.31 and a twelve month high of $11.71.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) last released its quarterly earnings results on Monday, August 3rd. The bank reported ($0.85) EPS for the quarter, missing the consensus estimate of $0.25 by ($1.10). BCB Bancorp, Inc. (NJ) had a negative return on equity of 6.29% and a negative net margin of 10.21%.The company had revenue of $22.88 million for the quarter, compared to analysts’ expectations of $25.55 million. Equities analysts forecast that BCB Bancorp, Inc. will post -4.39 EPS for the current year.

Insider Transactions at BCB Bancorp, Inc. (NJ)

In other news, CFO Jawad Chaudhry bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 18th. The stock was purchased at an average price of $7.75 per share, with a total value of $77,500.00. Following the purchase, the chief financial officer owned 62,500 shares of the company’s stock, valued at $484,375. This trade represents a 19.05% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Thomas M. Obrien bought 160,000 shares of BCB Bancorp, Inc. (NJ) stock in a transaction on Friday, September 18th. The stock was purchased at an average price of $7.75 per share, for a total transaction of $1,240,000.00. Following the completion of the acquisition, the chief executive officer owned 869,220 shares in the company, valued at $6,736,455. This represents a 22.56% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 11.50% of the company’s stock.

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

Several institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its position in BCB Bancorp, Inc. (NJ) by 247.0% during the first quarter. PNC Financial Services Group Inc. now owns 4,105 shares of the bank’s stock worth $37,000 after buying an additional 2,922 shares during the period. Cannell & Spears LLC acquired a new position in shares of BCB Bancorp, Inc. (NJ) during the 1st quarter valued at about $92,000. World Investment Advisors purchased a new position in shares of BCB Bancorp, Inc. (NJ) during the 4th quarter worth about $358,000. Bank of America Corp DE increased its stake in shares of BCB Bancorp, Inc. (NJ) by 80.1% in the first quarter. Bank of America Corp DE now owns 45,656 shares of the bank’s stock worth $410,000 after buying an additional 20,300 shares during the last quarter. Finally, Strs Ohio raised its holdings in BCB Bancorp, Inc. (NJ) by 3.3% in the first quarter. Strs Ohio now owns 66,500 shares of the bank’s stock valued at $597,000 after acquiring an additional 2,100 shares in the last quarter. 36.00% of the stock is currently owned by institutional investors and hedge funds.

BCB Bancorp, Inc. (NJ) Company Profile

BCB Bancorp, Inc is the holding company for BCB Community Bank, a community-focused banking institution headquartered in Bayonne, New Jersey. Through its banking subsidiary, the company provides deposit, lending and other financial services to individuals, families and businesses.

BCB Community Bank offers checking, savings, money market and certificate of deposit accounts, along with residential and commercial real estate loans, construction financing, commercial and industrial loans, consumer loans and home equity products.