Keefe, Bruyette & Woods Cuts BCB Bancorp (NASDAQ:BCBP) Price Target to $10.50

BCB Bancorp (NASDAQ:BCBP) had its target price trimmed by Keefe, Bruyette & Woods from $12.50 to $10.50 in a research note released on Thursday,Benzinga reports. The brokerage currently has a market perform rating on the bank’s stock.

Separately, Piper Sandler lowered 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, January 30th.

BCB Bancorp Stock Down 3.8 %

Shares of NASDAQ BCBP opened at $8.46 on Thursday. The stock’s 50-day simple moving average is $9.68 and its 200-day simple moving average is $11.23. BCB Bancorp has a 1 year low of $8.41 and a 1 year high of $14.04. The firm has a market cap of $145.20 million, a price-to-earnings ratio of 8.63 and a beta of 0.57. 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 data on Tuesday, April 22nd. The bank reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.74). BCB Bancorp had a return on equity of 6.33% and a net margin of 9.46%. The firm had revenue of $23.80 million for the quarter, compared to the consensus estimate of $24.28 million. As a group, equities analysts anticipate that BCB Bancorp will post 1.24 earnings per share for the current fiscal year.

BCB Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Wednesday, May 7th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 7.57%. The ex-dividend date of this dividend is Wednesday, May 7th. BCB Bancorp’s dividend payout ratio (DPR) is presently 426.67%.

Institutional Investors Weigh In On BCB Bancorp

Several large investors have recently modified their holdings of the stock. Voya Investment Management LLC raised its holdings in shares of BCB Bancorp by 35.8% in the fourth quarter. Voya Investment Management LLC now owns 321,096 shares of the bank’s stock valued at $3,802,000 after buying an additional 84,617 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in BCB Bancorp by 345.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 59,707 shares of the bank’s stock worth $737,000 after acquiring an additional 46,302 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of BCB Bancorp by 131.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 66,690 shares of the bank’s stock valued at $790,000 after buying an additional 37,820 shares in the last quarter. Root Financial Partners LLC grew its stake in BCB Bancorp by 78.6% in the first quarter. Root Financial Partners LLC now owns 50,000 shares of the bank’s stock valued at $493,000 after acquiring an additional 22,000 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in BCB Bancorp by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 974,952 shares of the bank’s stock worth $11,543,000 after purchasing an additional 21,826 shares in the last quarter. 36.00% of the stock is currently owned by 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.