BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) Cut to “Neutral” at Brean Capital

Brean Capital lowered shares of BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) from a buy rating to a neutral rating in a research report sent to investors on Friday, Marketbeat reports. The firm currently has $9.00 price target on the bank’s stock.

BCBP has been the subject of a number of other research reports. Keefe, Bruyette & Woods reduced their price target on BCB Bancorp, Inc. (NJ) from $11.00 to $8.35 and set a “market perform” rating for the company in a research report on Thursday. Weiss Ratings downgraded BCB Bancorp, Inc. (NJ) from a “hold (c-)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen lowered shares of BCB Bancorp, Inc. (NJ) from a “hold” rating to a “sell” rating in a report on Monday, August 17th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, BCB Bancorp, Inc. (NJ) presently has an average rating of “Reduce” and an average price target of $9.45.

BCB Bancorp, Inc. (NJ) Stock Performance

BCB Bancorp, Inc. (NJ) stock opened at $8.72 on Friday. The stock has a market cap of $157.83 million, a price-to-earnings ratio of -7.93 and a beta of 0.69. The stock’s 50 day simple moving average is $9.21 and its two-hundred day simple moving average is $9.58. BCB Bancorp, Inc. has a fifty-two week low of $7.31 and a fifty-two week high of $11.71. 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) last released its earnings results on Monday, August 3rd. The bank reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($1.10). The business had revenue of $22.88 million for the quarter, compared to analysts’ expectations of $25.55 million. BCB Bancorp, Inc. (NJ) had a negative net margin of 10.21% and a negative return on equity of 6.29%. As a group, analysts expect that BCB Bancorp, Inc. will post -0.48 earnings per share for the current fiscal year.

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

A number of hedge funds have recently made changes to their positions in BCBP. Quantinno Capital Management LP lifted its holdings in BCB Bancorp, Inc. (NJ) by 69.3% in 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. Empowered Funds LLC raised its position in shares of BCB Bancorp, Inc. (NJ) by 67.6% during the first quarter. Empowered Funds LLC now owns 79,006 shares of the bank’s stock valued at $709,000 after buying an additional 31,880 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of BCB Bancorp, Inc. (NJ) by 80.1% in the first quarter. Bank of America Corp DE now owns 45,656 shares of the bank’s stock worth $410,000 after buying an additional 20,300 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of BCB Bancorp, Inc. (NJ) by 247.0% during the first quarter. PNC Financial Services Group Inc. now owns 4,105 shares of the bank’s stock worth $37,000 after acquiring an additional 2,922 shares during the last quarter. Finally, Cannell & Spears LLC bought a new position in shares of BCB Bancorp, Inc. (NJ) during the first quarter worth $92,000. Institutional investors own 36.00% of the company’s stock.

BCB Bancorp, Inc. (NJ) News Summary

Here are the key news stories impacting BCB Bancorp, Inc. (NJ) this week:

• Positive Sentiment: BCB Bancorp completed a public offering of 12.65 million common shares at $7.75 per share, including the underwriter’s full 1.65 million-share overallotment. The offering generated approximately $98 million in gross proceeds, providing additional capital for BCB Community Bank and potentially strengthening its balance sheet. BCB Bancorp offering closing
• Neutral Sentiment: Brean Capital downgraded BCBP from “buy” to “neutral” but assigned a $9.00 price target, implying limited potential upside from the referenced price. Brean Capital rating update
• Neutral Sentiment: Keefe, Bruyette & Woods lowered its price target from $11.00 to $8.35 and maintained a “market perform” rating, reflecting reduced expectations for the bank’s near-term performance. KBW price target update
• Negative Sentiment: The stock offering substantially increases the share count, creating dilution for existing shareholders. The shares were priced below the referenced market price, which can pressure the stock.
• Negative Sentiment: BCB Bancorp disclosed a portfolio of problem loans and warned that it expects a third-quarter net loss. The combination of deteriorating credit quality and anticipated losses is likely the main reason for recent selling pressure. BCB Bancorp problem loans and loss warning

About BCB Bancorp, Inc. (NJ)

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.