BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) Stock Has Average Price Target of $9.45 According to Brokerages

Shares of BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) have been given an average rating of “Reduce” by the five analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $8.95.

A number of brokerages recently issued reports on BCBP. Weiss Ratings downgraded BCB Bancorp, Inc. (NJ) from a “hold (c-)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Keefe, Bruyette & Woods lowered their target price on shares of BCB Bancorp, Inc. (NJ) from $11.00 to $8.35 and set a “market perform” rating for the company in a research note on Thursday, September 17th. Brean Capital cut shares of BCB Bancorp, Inc. (NJ) from a “buy” rating to a “neutral” rating and set a $9.00 price target for the company. in a research report on Friday, September 18th. Piper Sandler reduced their price target on shares of BCB Bancorp, Inc. (NJ) from $11.00 to $9.50 and set a “neutral” rating on the stock in a research note on Monday. Finally, Wall Street Zen downgraded shares of BCB Bancorp, Inc. (NJ) from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 19th.

Insider Activity at BCB Bancorp, Inc. (NJ)

In other news, CEO Thomas M. Obrien purchased 160,000 shares of the stock in a transaction dated Friday, September 18th. The stock was acquired at an average cost of $7.75 per share, for a total transaction of $1,240,000.00. Following the completion of the transaction, the chief executive officer directly owned 869,220 shares in the company, valued at approximately $6,736,455. This represents a 22.56% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jawad Chaudhry purchased 10,000 shares of the stock in a transaction dated Friday, September 18th. The shares were purchased at an average price of $7.75 per share, with a total value of $77,500.00. Following the completion of the transaction, the chief financial officer owned 62,500 shares of the company’s stock, valued at approximately $484,375. This trade represents a 19.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 11.50% of the stock is currently owned by company insiders.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of BCBP. Empowered Funds LLC increased its stake in BCB Bancorp, Inc. (NJ) by 67.6% during 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 boosted 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 valued at $410,000 after purchasing an additional 20,300 shares during the period. Quantinno Capital Management LP boosted its stake in shares of BCB Bancorp, Inc. (NJ) by 69.3% in the first quarter. Quantinno Capital Management LP now owns 141,904 shares of the bank’s stock valued at $1,274,000 after purchasing an additional 58,110 shares during the period. Cannell & Spears LLC acquired a new position in shares of BCB Bancorp, Inc. (NJ) in the first quarter valued at approximately $92,000. Finally, Renaissance Technologies LLC grew its holdings in shares of BCB Bancorp, Inc. (NJ) by 5.5% in the first quarter. Renaissance Technologies LLC now owns 345,194 shares of the bank’s stock valued at $3,100,000 after purchasing an additional 18,000 shares in the last quarter. 36.00% of the stock is currently owned by hedge funds and other institutional investors.

BCB Bancorp, Inc. (NJ) Trading Up 0.7%

BCBP opened at $8.75 on Friday. The stock has a market capitalization of $158.38 million, a PE ratio of -7.95 and a beta of 0.69. BCB Bancorp, Inc. has a one year low of $7.31 and a one year high of $11.71. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.06 and a current ratio of 1.07. The business’s 50 day moving average price is $9.07 and its 200 day moving average price is $9.59.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) last posted its earnings results on Monday, August 3rd. The bank reported ($0.85) earnings per share (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 business had revenue of $22.88 million for the quarter, compared to analyst estimates of $25.55 million. As a group, equities research analysts expect that BCB Bancorp, Inc. will post -7.52 EPS for the current year.

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.