Keefe, Bruyette & Woods Cuts BCB Bancorp (NASDAQ:BCBP) Price Target to $13.75

BCB Bancorp (NASDAQ:BCBP) had its price target decreased by Keefe, Bruyette & Woods from $15.00 to $13.75 in a research report report published on Thursday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

Separately, Piper Sandler dropped their price target on BCB Bancorp from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday.

BCB Bancorp Trading Down 9.8 %

NASDAQ BCBP opened at $10.62 on Thursday. The stock has a market cap of $181.07 million, a P/E ratio of 10.84 and a beta of 0.61. BCB Bancorp has a fifty-two week low of $9.19 and a fifty-two week high of $14.04. The stock has a 50 day simple moving average of $12.11 and a two-hundred day simple moving average of $12.19. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.23 and a current ratio of 1.23.

BCB Bancorp (NASDAQ:BCBP) last announced its quarterly 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 9.46% and a return on equity of 6.33%. On average, analysts forecast that BCB Bancorp will post 1.46 earnings per share for the current year.

BCB Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Friday, February 7th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.64 annualized dividend and a dividend yield of 6.03%. BCB Bancorp’s payout ratio is 65.31%.

Insider Activity at BCB Bancorp

In other news, COO Ryan Blake sold 8,677 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $13.06, for a total value of $113,321.62. Following the transaction, the chief operating officer now owns 39,362 shares in the company, valued at approximately $514,067.72. This represents a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 15.86% of the stock is owned by corporate insiders.

Institutional Trading of BCB Bancorp

Several institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in shares of BCB Bancorp by 345.4% during the third quarter. JPMorgan Chase & Co. now owns 59,707 shares of the bank’s stock valued at $737,000 after buying an additional 46,302 shares during the last quarter. Barclays PLC lifted its stake in BCB Bancorp by 235.3% during the 3rd quarter. Barclays PLC now owns 22,375 shares of the bank’s stock valued at $277,000 after acquiring an additional 15,702 shares during the period. Geode Capital Management LLC boosted its holdings in shares of BCB Bancorp by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 367,403 shares of the bank’s stock valued at $4,534,000 after acquiring an additional 7,631 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of BCB Bancorp in the third quarter worth approximately $1,450,000. Finally, AQR Capital Management LLC purchased a new position in shares of BCB Bancorp during the second quarter valued at approximately $334,000. 36.00% of the stock is currently owned by hedge funds and other institutional investors.

About BCB Bancorp

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.