Zacks Research Upgrades BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) to Strong-Buy

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other research analysts have also commented on BCBP. Piper Sandler lifted their price objective on shares of BCB Bancorp, Inc. (NJ) from $8.50 to $9.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of BCB Bancorp, Inc. (NJ) in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded shares of BCB Bancorp, Inc. (NJ) from a “strong sell” rating to a “hold” rating in a research report on Saturday, January 31st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.00.

BCB Bancorp, Inc. (NJ) Stock Down 1.1%

Shares of NASDAQ:BCBP opened at $8.05 on Thursday. The firm has a 50 day simple moving average of $8.10 and a 200-day simple moving average of $8.21. BCB Bancorp, Inc. has a twelve month low of $7.31 and a twelve month high of $10.38. The company has a current ratio of 1.12, a quick ratio of 1.14 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $139.75 million, a PE ratio of -9.58 and a beta of 0.74.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) last released its quarterly earnings data on Friday, January 30th. The bank reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.87). The company had revenue of $26.17 million during the quarter, compared to analyst estimates of $25.22 million. BCB Bancorp, Inc. (NJ) had a negative net margin of 6.90% and a negative return on equity of 4.35%. On average, equities analysts predict that BCB Bancorp, Inc. will post 1.24 EPS for the current fiscal year.

Insider Activity

In other news, Director Mark D. Hogan purchased 5,000 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were acquired at an average price of $7.97 per share, for a total transaction of $39,850.00. Following the acquisition, the director directly owned 103,352 shares in the company, valued at approximately $823,715.44. The trade was a 5.08% increase in their position. The acquisition 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 Investors Weigh In On BCB Bancorp, Inc. (NJ)

A number of large investors have recently added to or reduced their stakes in BCBP. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of BCB Bancorp, Inc. (NJ) in the second quarter valued at approximately $28,000. Russell Investments Group Ltd. lifted its position in shares of BCB Bancorp, Inc. (NJ) by 174.3% in the third quarter. Russell Investments Group Ltd. now owns 4,200 shares of the bank’s stock valued at $36,000 after acquiring an additional 2,669 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of BCB Bancorp, Inc. (NJ) by 76.8% during the third quarter. Public Employees Retirement System of Ohio now owns 5,415 shares of the bank’s stock valued at $47,000 after acquiring an additional 2,352 shares during the last quarter. BNP Paribas Financial Markets increased its position in BCB Bancorp, Inc. (NJ) by 31.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,205 shares of the bank’s stock worth $54,000 after purchasing an additional 1,497 shares in the last quarter. Finally, Mariner LLC acquired a new position in BCB Bancorp, Inc. (NJ) in the 4th quarter valued at about $82,000. 36.00% of the stock is owned by institutional investors and hedge funds.

BCB Bancorp, Inc. (NJ) Company Profile

BCB Bancorp, Inc is a bank holding company incorporated in New Jersey and traded on the NASDAQ under the symbol BCBP. Its primary subsidiary, Bergen Commercial Bank, operates as a full-service community bank focused on serving the financial needs of individuals and businesses in the New York metropolitan area. Headquartered in Clifton, New Jersey, the company has built its reputation on personalized banking relationships and local decision-making.

BCB Bancorp offers a comprehensive suite of deposit products, including checking accounts, savings accounts, money market accounts, and certificates of deposit.