Zacks Research Upgrades BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) to Hold

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Several other analysts have also recently issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of BCB Bancorp, Inc. (NJ) in a research note on Monday, December 29th. Keefe, Bruyette & Woods dropped their price target on BCB Bancorp, Inc. (NJ) from $9.50 to $9.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 28th. Piper Sandler raised their price objective on BCB Bancorp, Inc. (NJ) from $8.50 to $9.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Wall Street Zen upgraded shares of BCB Bancorp, Inc. (NJ) from a “strong sell” rating to a “hold” rating in a research note on Saturday, January 31st. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, BCB Bancorp, Inc. (NJ) presently has an average rating of “Reduce” and an average price target of $9.00.

BCB Bancorp, Inc. (NJ) Stock Performance

Shares of NASDAQ:BCBP opened at $8.26 on Wednesday. The business’s 50-day simple moving average is $8.11 and its 200 day simple moving average is $8.25. The company has a market cap of $142.32 million, a P/E ratio of -9.83 and a beta of 0.77. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.14 and a current ratio of 1.14. BCB Bancorp, Inc. has a one year low of $7.31 and a one year high of $10.46.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) last released its quarterly earnings results on Friday, January 30th. The bank reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.87). BCB Bancorp, Inc. (NJ) had a negative return on equity of 4.30% and a negative net margin of 6.90%.The company had revenue of $26.17 million during the quarter, compared to analysts’ expectations of $25.22 million. On average, sell-side analysts forecast that BCB Bancorp, Inc. will post 1.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BCB Bancorp, Inc. (NJ)

Several hedge funds and other institutional investors have recently modified their holdings of the company. Empowered Funds LLC grew its position in shares of BCB Bancorp, Inc. (NJ) by 3.9% during the first quarter. Empowered Funds LLC now owns 62,609 shares of the bank’s stock worth $617,000 after acquiring an additional 2,365 shares during the last quarter. Jane Street Group LLC bought a new position in BCB Bancorp, Inc. (NJ) in the 1st quarter worth about $146,000. Ibex Wealth Advisors bought a new position in BCB Bancorp, Inc. (NJ) in the 2nd quarter worth about $126,000. Geode Capital Management LLC increased its stake in shares of BCB Bancorp, Inc. (NJ) by 5.4% in the second quarter. Geode Capital Management LLC now owns 407,354 shares of the bank’s stock valued at $3,430,000 after purchasing an additional 21,035 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in shares of BCB Bancorp, Inc. (NJ) during the second quarter valued at approximately $28,000. Institutional investors and hedge funds own 36.00% of the company’s stock.

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.