Piper Sandler Cuts BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) Price Target to $9.50

by · The Markets Daily

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP – Free Report) had its price objective lowered by Piper Sandler from $11.00 to $9.50 in a research report report published on Monday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the bank’s stock.

A number of other brokerages also recently commented on BCBP. 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. Keefe, Bruyette & Woods decreased their price target 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 report on Thursday, September 17th. Brean Capital downgraded BCB Bancorp, Inc. (NJ) from a “buy” rating to a “neutral” rating and set a $9.00 price target for the company. in a report on Friday, September 18th. Finally, Weiss Ratings lowered BCB Bancorp, Inc. (NJ) from a “hold (c-)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, BCB Bancorp, Inc. (NJ) presently has an average rating of “Reduce” and an average price target of $8.95.

Get Our Latest Stock Report on BCBP

BCB Bancorp, Inc. (NJ) Price Performance

BCBP stock opened at $8.69 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.06 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. The company has a market cap of $157.29 million, a PE ratio of -7.90 and a beta of 0.69. The stock has a 50-day moving average price of $9.11 and a two-hundred day moving average price of $9.59.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP – Get Free Report) last posted its earnings results on Monday, August 3rd. The bank reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($1.10). The business had revenue of $22.88 million for the quarter, compared to analyst estimates of $25.55 million. BCB Bancorp, Inc. (NJ) had a negative return on equity of 6.29% and a negative net margin of 10.21%. As a group, research analysts predict that BCB Bancorp, Inc. will post -7.52 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Jawad Chaudhry purchased 10,000 shares of the stock in a transaction that occurred on Friday, September 18th. The stock was acquired at an average cost of $7.75 per share, with a total value of $77,500.00. Following the acquisition, the chief financial officer owned 62,500 shares in the company, valued at approximately $484,375. This trade represents a 19.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas O’Brien acquired 160,000 shares of the business’s stock in a transaction on Friday, September 18th. The stock was purchased at an average price of $7.75 per share, for a total transaction of $1,240,000.00. Following the acquisition, the chief executive officer directly owned 869,220 shares in the company, valued at $6,736,455. This represents a 22.56% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 11.50% of the stock is currently owned by company insiders.

Institutional Trading of BCB Bancorp, Inc. (NJ)

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio increased its holdings in BCB Bancorp, Inc. (NJ) by 3.3% during the 1st quarter. Strs Ohio now owns 66,500 shares of the bank’s stock worth $597,000 after purchasing an additional 2,100 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of BCB Bancorp, Inc. (NJ) by 247.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,105 shares of the bank’s stock valued at $37,000 after buying an additional 2,922 shares during the last quarter. Root Financial Partners LLC boosted its stake in shares of BCB Bancorp, Inc. (NJ) by 14.7% during the 4th quarter. Root Financial Partners LLC now owns 82,000 shares of the bank’s stock valued at $662,000 after buying an additional 10,500 shares during the last quarter. Cannell & Spears LLC acquired a new stake in shares of BCB Bancorp, Inc. (NJ) during the first quarter worth approximately $92,000. Finally, Renaissance Technologies LLC grew its position in shares of BCB Bancorp, Inc. (NJ) by 5.5% during the first quarter. Renaissance Technologies LLC now owns 345,194 shares of the bank’s stock worth $3,100,000 after buying an additional 18,000 shares in the last quarter. 36.00% of the stock is owned by hedge funds and other institutional investors.

About BCB Bancorp, Inc. (NJ)

(Get Free Report)

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.

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