BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) Price Target Raised to $9.00

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) had its price objective upped 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 analysts have also recently commented on BCBP. Zacks Research cut BCB Bancorp, Inc. (NJ) from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Keefe, Bruyette & Woods dropped their price objective on BCB Bancorp, Inc. (NJ) from $9.50 to $9.00 and set a “market perform” rating on the stock in a report on Tuesday, October 28th. Wall Street Zen upgraded BCB Bancorp, Inc. (NJ) from a “strong sell” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of BCB Bancorp, Inc. (NJ) in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, BCB Bancorp, Inc. (NJ) currently has an average rating of “Reduce” and an average price target of $9.00.

BCB Bancorp, Inc. (NJ) Stock Performance

BCB Bancorp, Inc. (NJ) stock opened at $8.26 on Tuesday. The stock’s 50 day moving average price is $8.11 and its 200 day moving average price is $8.25. The firm has a market capitalization of $142.32 million, a PE ratio of -9.83 and a beta of 0.77. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.14 and a current ratio of 1.14. BCB Bancorp, Inc. has a one year low of $7.31 and a one year high of $10.46.

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

BCB Bancorp, Inc. (NJ) Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Wednesday, February 11th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Wednesday, February 11th. BCB Bancorp, Inc. (NJ)’s dividend payout ratio (DPR) is presently -38.10%.

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

A number of institutional investors have recently modified their holdings of the business. Police & Firemen s Retirement System of New Jersey bought a new position in BCB Bancorp, Inc. (NJ) in the second quarter worth about $28,000. Russell Investments Group Ltd. raised its position in shares of BCB Bancorp, Inc. (NJ) by 174.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,200 shares of the bank’s stock worth $36,000 after purchasing an additional 2,669 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of BCB Bancorp, Inc. (NJ) by 76.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,415 shares of the bank’s stock worth $47,000 after purchasing an additional 2,352 shares during the last quarter. BNP Paribas Financial Markets boosted its position in BCB Bancorp, Inc. (NJ) by 31.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,205 shares of the bank’s stock valued at $54,000 after purchasing an additional 1,497 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new position in BCB Bancorp, Inc. (NJ) during the 3rd quarter valued at approximately $89,000. Institutional investors own 36.00% of the company’s stock.

About BCB Bancorp, Inc. (NJ)

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.