BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) Price Target Cut to $8.35 by Analysts at Keefe, Bruyette & Woods

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) had its price target lowered by equities research analysts at Keefe, Bruyette & Woods from $11.00 to $8.35 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price points to a potential downside of 1.20% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings cut shares of BCB Bancorp, Inc. (NJ) from a “hold (c-)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Wall Street Zen cut shares of BCB Bancorp, Inc. (NJ) from a “hold” rating to a “sell” rating in a research report on Monday, August 17th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, BCB Bancorp, Inc. (NJ) has an average rating of “Reduce” and an average target price of $9.68.

BCB Bancorp, Inc. (NJ) Price Performance

BCB Bancorp, Inc. (NJ) stock traded up $0.20 during midday trading on Thursday, reaching $8.45. 1,205,342 shares of the stock traded hands, compared to its average volume of 135,990. The stock has a market cap of $152.96 million, a P/E ratio of -7.67 and a beta of 0.69. The stock’s fifty day moving average is $9.27 and its 200-day moving average is $9.57. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.63. BCB Bancorp, Inc. has a 12 month low of $7.31 and a 12 month high of $11.71.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) last posted its earnings results on Monday, August 3rd. The bank reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($1.10). BCB Bancorp, Inc. (NJ) had a negative net margin of 10.21% and a negative return on equity of 6.29%. The business had revenue of $22.88 million during the quarter, compared to analysts’ expectations of $25.55 million. As a group, equities research analysts anticipate that BCB Bancorp, Inc. will post -0.48 EPS for the current year.

Institutional Investors Weigh In On BCB Bancorp, Inc. (NJ)

A number of institutional investors and hedge funds have recently modified their holdings of BCBP. Empowered Funds LLC increased its stake in BCB Bancorp, Inc. (NJ) by 67.6% in the first quarter. Empowered Funds LLC now owns 79,006 shares of the bank’s stock worth $709,000 after purchasing an additional 31,880 shares during the period. Bank of America Corp DE grew its holdings 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 purchasing an additional 20,300 shares during the last quarter. Quantinno Capital Management LP increased its stake in BCB Bancorp, Inc. (NJ) by 69.3% in the 1st quarter. Quantinno Capital Management LP now owns 141,904 shares of the bank’s stock worth $1,274,000 after buying an additional 58,110 shares during the period. Cannell & Spears LLC purchased a new position in BCB Bancorp, Inc. (NJ) in the 1st quarter worth about $92,000. Finally, Renaissance Technologies LLC lifted its holdings in BCB Bancorp, Inc. (NJ) by 5.5% during the 1st quarter. Renaissance Technologies LLC now owns 345,194 shares of the bank’s stock valued at $3,100,000 after buying an additional 18,000 shares in the last quarter. 36.00% of the stock is owned by institutional investors.

About BCB Bancorp, Inc. (NJ)

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.