BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) Lowered to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) from a sell rating to a strong sell rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts have also recently weighed in on the stock. Weiss Ratings cut shares of BCB Bancorp, Inc. (NJ) from a “hold (c-)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Keefe, Bruyette & Woods decreased their target price on shares of 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. Finally, Brean Capital cut shares of BCB Bancorp, Inc. (NJ) from a “buy” rating to a “neutral” rating and set a $9.00 target price on the stock. in a research note on Friday. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, BCB Bancorp, Inc. (NJ) presently has a consensus rating of “Reduce” and an average target price of $9.45.

BCB Bancorp, Inc. (NJ) Stock Up 0.3%

BCBP opened at $8.72 on Friday. BCB Bancorp, Inc. has a 12 month low of $7.31 and a 12 month high of $11.71. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.07 and a quick ratio of 1.06. The stock has a market cap of $157.83 million, a P/E ratio of -7.93 and a beta of 0.69. The stock’s 50 day moving average price is $9.21 and its 200 day moving average price is $9.57.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) last announced its quarterly earnings results on Monday, August 3rd. The bank reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($1.10). BCB Bancorp, Inc. (NJ) had a negative return on equity of 6.29% and a negative net margin of 10.21%.The business had revenue of $22.88 million for the quarter, compared to analyst estimates of $25.55 million. As a group, research analysts predict that BCB Bancorp, Inc. will post -0.48 earnings per share for the current year.

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

Several hedge funds have recently modified their holdings of BCBP. Empowered Funds LLC boosted its stake in 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 in the last quarter. Bank of America Corp DE lifted its holdings in BCB Bancorp, Inc. (NJ) by 80.1% in the 1st quarter. Bank of America Corp DE now owns 45,656 shares of the bank’s stock valued at $410,000 after acquiring an additional 20,300 shares during the last quarter. 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 valued at $1,274,000 after acquiring an additional 58,110 shares during the last quarter. Cannell & Spears LLC bought a new position in shares of BCB Bancorp, Inc. (NJ) during the 1st quarter valued at about $92,000. Finally, Renaissance Technologies LLC boosted its position in shares of BCB Bancorp, Inc. (NJ) by 5.5% during the 1st quarter. Renaissance Technologies LLC now owns 345,194 shares of the bank’s stock valued at $3,100,000 after purchasing an additional 18,000 shares in the last quarter. 36.00% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about BCB Bancorp, Inc. (NJ)

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

BCB Bancorp, Inc. (NJ) Company Profile

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.