Key Points
- CEO Thomas Obrien purchased 160,000 BCB Bancorp shares at an average price of $7.75, investing $1.24 million and increasing his direct ownership by 22.56% to 869,220 shares.
- BCB Bancorp reported a quarterly loss of $0.85 per share, significantly below the $0.25 consensus estimate, while revenue of $22.88 million also missed expectations.
- Analyst sentiment remains cautious: the stock carries a consensus “Reduce” rating with an $8.95 price target, and shares recently traded at $8.67 versus a 52-week range of $7.31 to $11.71.
BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP - Get Free Report) CFO Jawad Chaudhry bought 10,000 shares of the business's stock in a transaction on Friday, September 18th. The shares were purchased at an average cost of $7.75 per share, with a total value of $77,500.00. Following the transaction, the chief financial officer owned 62,500 shares in the company, valued at approximately $484,375. The trade was a 19.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.
BCB Bancorp, Inc. (NJ) Trading Down 0.3%
Shares of NASDAQ:BCBP opened at $8.67 on Wednesday. The stock's 50-day moving average is $9.14 and its 200-day moving average is $9.58. BCB Bancorp, Inc. has a 52-week low of $7.31 and a 52-week high of $11.71. The company has a market cap of $156.93 million, a P/E ratio of -7.88 and a beta of 0.69. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.06 and a current ratio of 1.07.
BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The bank reported ($0.85) EPS for the quarter, missing the consensus estimate of $0.25 by ($1.10). The business had revenue of $22.88 million during the quarter, compared to the consensus estimate 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%. Equities research analysts predict that BCB Bancorp, Inc. will post -4.39 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on BCBP. Piper Sandler cut their price objective on shares of BCB Bancorp, Inc. (NJ) from $11.00 to $9.50 and set a "neutral" rating for the company in a research report on Monday. Keefe, Bruyette & Woods lowered their price objective on BCB Bancorp, Inc. (NJ) from $11.00 to $8.35 and set a "market perform" rating on the stock in a research report on Thursday, September 17th. Wall Street Zen cut BCB Bancorp, Inc. (NJ) from a "sell" rating to a "strong sell" rating in a research report on Saturday. Weiss Ratings downgraded shares of BCB Bancorp, Inc. (NJ) from a "hold (c-)" rating to a "sell (d)" rating in a research note on Tuesday, August 11th. Finally, Brean Capital lowered shares of BCB Bancorp, Inc. (NJ) from a "buy" rating to a "neutral" rating and set a $9.00 price target on the stock. in a report on Friday, September 18th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, BCB Bancorp, Inc. (NJ) currently has an average rating of "Reduce" and an average target price of $8.95.
View Our Latest Analysis on BCBP
Hedge Funds Weigh In On BCB Bancorp, Inc. (NJ)
A number of hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC grew its position in 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 acquiring an additional 18,000 shares during the period. Quantinno Capital Management LP increased its position in shares of BCB Bancorp, Inc. (NJ) by 69.3% during the 1st quarter. Quantinno Capital Management LP now owns 141,904 shares of the bank's stock worth $1,274,000 after purchasing an additional 58,110 shares in the last quarter. Root Financial Partners LLC increased its position 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 worth $662,000 after purchasing an additional 10,500 shares in the last quarter. Empowered Funds LLC raised its stake in shares of BCB Bancorp, Inc. (NJ) by 67.6% in the first quarter. Empowered Funds LLC now owns 79,006 shares of the bank's stock valued at $709,000 after acquiring an additional 31,880 shares during the last quarter. Finally, Strs Ohio boosted its holdings in shares of BCB Bancorp, Inc. (NJ) by 3.3% in the 1st quarter. Strs Ohio now owns 66,500 shares of the bank's stock worth $597,000 after acquiring an additional 2,100 shares in the last quarter. 36.00% of the stock is owned by institutional investors and hedge funds.
BCB Bancorp, Inc. (NJ) Company Profile
(
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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