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

Key Points

• Brean Capital downgraded BCB Bancorp from “buy” to “neutral” and set a $9.00 price target, implying approximately 3.57% upside from the prior close.
• Analyst sentiment has weakened, with a consensus “Reduce” rating and an average target price of $9.45; other firms have issued “market perform” and “sell” ratings.
• The bank reported a significant quarterly loss of $0.85 per share versus expectations for $0.25 in earnings, while revenue of $22.88 million also missed estimates.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP - Get Free Report) was downgraded by research analysts at Brean Capital from a "buy" rating to a "neutral" rating in a note issued to investors on Friday, Marketbeat.com reports. They presently have a $9.00 price target on the bank's stock. Brean Capital's price objective suggests a potential upside of 3.57% from the stock's previous close.

Several other equities research analysts have also recently weighed in on BCBP. Keefe, Bruyette & Woods decreased their price objective 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. Weiss Ratings lowered shares of BCB Bancorp, Inc. (NJ) from a "hold (c-)" rating to a "sell (d)" rating in a report on Tuesday, August 11th. Finally, Wall Street Zen cut shares of BCB Bancorp, Inc. (NJ) from a "hold" rating to a "sell" rating in a research report on Monday, August 17th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, BCB Bancorp, Inc. (NJ) currently has a consensus rating of "Reduce" and an average target price of $9.45.

BCB Bancorp, Inc. (NJ) Price Performance

BCB Bancorp, Inc. (NJ) stock opened at $8.69 on Friday. The stock's 50 day moving average is $9.24 and its 200 day moving average is $9.57. 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 firm has a market cap of $157.29 million, a P/E ratio of -7.90 and a beta of 0.69. BCB Bancorp, Inc. has a one year low of $7.31 and a one year high of $11.71.

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

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

Institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC grew its stake in shares of BCB Bancorp, Inc. (NJ) by 67.6% in the 1st 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 period. Bank of America Corp DE boosted its holdings in 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 acquiring an additional 20,300 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in BCB Bancorp, Inc. (NJ) by 69.3% in the first quarter. Quantinno Capital Management LP now owns 141,904 shares of the bank's stock worth $1,274,000 after acquiring an additional 58,110 shares in the last quarter. Cannell & Spears LLC acquired a new stake in BCB Bancorp, Inc. (NJ) in the first quarter valued at approximately $92,000. Finally, Renaissance Technologies LLC grew its stake in BCB Bancorp, Inc. (NJ) by 5.5% in the first quarter. Renaissance Technologies LLC now owns 345,194 shares of the bank's stock valued at $3,100,000 after acquiring an additional 18,000 shares during the period. Institutional investors and hedge funds own 36.00% of the company's stock.

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.

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