Zacks Investment Research upgraded shares of BCB Bancorp (NASDAQ:BCBP) from a hold rating to a buy rating in a report issued on Wednesday morning. Zacks Investment Research currently has $17.00 target price on the bank’s stock.
According to Zacks, “BCB Bancorp, Inc. operates as the holding company for BCB Community Bank, a state chartered commercial bank that provides banking products and services to businesses and individuals in the United States. The Bank is a community-oriented financial institution. Its business is to offer Federal Deposit Insurance Corporation (FDIC)-insured deposit products and to invest funds held in deposit accounts at the Bank, together with funds generated from operations, in loans and investment securities. The company offers deposit products, including savings and club accounts, interest and non-interest bearing demand accounts, money market accounts, certificates of deposit, individual retirement accounts, and term certificate accounts. In addition, the company offers retail and commercial banking services comprising wire transfers, money orders, safe deposit boxes, night depository services, debit cards, online and mobile banking services, gift cards, fraud detection services, and automated teller services. “
BCB Bancorp (NASDAQ BCBP) opened at $15.75 on Wednesday. BCB Bancorp has a twelve month low of $12.05 and a twelve month high of $17.05. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.12 and a quick ratio of 1.11. The company has a market capitalization of $236.91, a price-to-earnings ratio of 16.07, a PEG ratio of 1.31 and a beta of 0.47.
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, February 5th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Friday, February 2nd. BCB Bancorp’s payout ratio is currently 66.67%.
In related news, Director James G. Rizzo purchased 1,750 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was purchased at an average cost of $14.53 per share, with a total value of $25,427.50. Following the completion of the acquisition, the director now directly owns 48,500 shares of the company’s stock, valued at $704,705. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 16.76% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of BCBP. Wells Fargo & Company MN raised its position in shares of BCB Bancorp by 2,369.8% in the third quarter. Wells Fargo & Company MN now owns 9,904 shares of the bank’s stock worth $139,000 after buying an additional 9,503 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of BCB Bancorp in the third quarter worth $140,000. New York State Common Retirement Fund purchased a new stake in shares of BCB Bancorp in the second quarter worth $155,000. QS Investors LLC purchased a new stake in shares of BCB Bancorp in the fourth quarter worth $166,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of BCB Bancorp by 16,145.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 11,697 shares of the bank’s stock worth $170,000 after buying an additional 11,625 shares in the last quarter. Institutional investors own 30.57% of the company’s stock.
About BCB Bancorp
BCB Bancorp, Inc is the holding company parent of BCB Community Bank (the Bank). The Bank is a community-oriented financial institution. Its business is to offer Federal Deposit Insurance Corporation (FDIC)-insured deposit products and to invest funds held in deposit accounts at the Bank, together with funds generated from operations, in loans and investment securities.
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