BCB Bancorp (NASDAQ:BCBP) Price Target Lowered to $13.00 at Piper Sandler

BCB Bancorp (NASDAQ:BCBP) had its price target reduced by Piper Sandler from $14.00 to $13.00 in a research note issued to investors on Thursday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods upped their target price on shares of BCB Bancorp from $13.25 to $13.50 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd.

BCB Bancorp Price Performance

BCB Bancorp stock opened at $10.62 on Thursday. The business’s 50-day simple moving average is $12.11 and its 200 day simple moving average is $12.19. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.79. The stock has a market cap of $181.07 million, a price-to-earnings ratio of 9.08 and a beta of 0.61. BCB Bancorp has a 12-month low of $9.19 and a 12-month high of $14.04.

BCB Bancorp (NASDAQ:BCBP) last issued its earnings results on Tuesday, January 28th. The bank reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.13). BCB Bancorp had a net margin of 10.59% and a return on equity of 7.31%. As a group, research analysts anticipate that BCB Bancorp will post 1.27 earnings per share for the current year.

BCB Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Friday, February 7th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 6.03%. The ex-dividend date is Friday, February 7th. BCB Bancorp’s payout ratio is 54.70%.

Insider Buying and Selling at BCB Bancorp

In other BCB Bancorp news, COO Ryan Blake sold 8,677 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $13.06, for a total value of $113,321.62. Following the completion of the sale, the chief operating officer now directly owns 39,362 shares in the company, valued at $514,067.72. This represents a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 15.86% of the company’s stock.

Institutional Trading of BCB Bancorp

Several hedge funds have recently bought and sold shares of BCBP. CWM LLC lifted its position in BCB Bancorp by 105.3% in the 3rd quarter. CWM LLC now owns 5,116 shares of the bank’s stock valued at $63,000 after acquiring an additional 2,624 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of BCB Bancorp by 5.1% in the third quarter. Jane Street Group LLC now owns 15,669 shares of the bank’s stock valued at $193,000 after purchasing an additional 767 shares in the last quarter. Barclays PLC boosted its position in shares of BCB Bancorp by 235.3% during the third quarter. Barclays PLC now owns 22,375 shares of the bank’s stock worth $277,000 after buying an additional 15,702 shares during the period. AQR Capital Management LLC bought a new position in shares of BCB Bancorp during the second quarter worth about $334,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in BCB Bancorp in the 3rd quarter valued at approximately $356,000. 36.00% of the stock is currently owned by institutional investors and hedge funds.

BCB Bancorp Company Profile

BCB Bancorp, Inc operates as a bank holding company for BCB Community Bank that engages in the provision of banking products and services to businesses and individuals in the United States. The company offers insured deposit products, including savings and club accounts, interest and non-interest-bearing demand accounts, money market accounts, certificates of deposit, and individual retirement accounts.