BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) Given New $9.50 Price Target at Piper Sandler

Key Points

• Piper Sandler cut BCB Bancorp’s price target from $11.00 to $9.50 while maintaining a neutral rating, implying about 8.9% upside from the reported $8.72 share price.
• Analyst sentiment has weakened, with recent downgrades and target reductions contributing to a consensus “Reduce” rating and an average price target of $8.95.
• BCB Bancorp reported a quarterly loss of $0.85 per share, missing the $0.25 consensus estimate, while revenue of $22.88 million also fell short of expectations.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP - Get Free Report) had its price objective reduced by equities research analysts at Piper Sandler from $11.00 to $9.50 in a research note issued on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the bank's stock. Piper Sandler's target price would suggest a potential upside of 8.94% from the company's current price.

A number of other analysts also recently commented on BCBP. Weiss Ratings downgraded shares of BCB Bancorp, Inc. (NJ) from a "hold (c-)" rating to a "sell (d)" rating in a report on Tuesday, August 11th. Keefe, Bruyette & Woods reduced 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 report on Thursday. Wall Street Zen lowered shares of BCB Bancorp, Inc. (NJ) from a "sell" rating to a "strong sell" rating in a research report on Saturday. Finally, Brean Capital cut BCB Bancorp, Inc. (NJ) from a "buy" rating to a "neutral" rating and set a $9.00 price target on the stock. in a report on Friday. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, BCB Bancorp, Inc. (NJ) currently has a consensus rating of "Reduce" and a consensus target price of $8.95.

BCB Bancorp, Inc. (NJ) Stock Performance

Shares of BCB Bancorp, Inc. (NJ) stock opened at $8.72 on Monday. The business has a fifty day simple moving average of $9.21 and a 200-day simple moving average of $9.58. BCB Bancorp, Inc. has a fifty-two week low of $7.31 and a fifty-two week high of $11.71. The firm has a market cap of $157.83 million, a price-to-earnings ratio of -7.93 and a beta of 0.69. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.63.

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 (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 firm had revenue of $22.88 million for the quarter, compared to analyst estimates of $25.55 million. On average, equities analysts forecast that BCB Bancorp, Inc. will post -0.48 EPS for the current fiscal year.

Institutional Trading of BCB Bancorp, Inc. (NJ)

A number of hedge funds have recently bought and sold shares of the company. Empowered Funds LLC increased its position in shares of BCB Bancorp, Inc. (NJ) by 67.6% in the first quarter. Empowered Funds LLC now owns 79,006 shares of the bank's stock worth $709,000 after acquiring an additional 31,880 shares in the last quarter. Bank of America Corp DE lifted its position in shares of 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 in the last quarter. Quantinno Capital Management LP boosted its stake 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 during the period. Cannell & Spears LLC acquired a new position in BCB Bancorp, Inc. (NJ) in the 1st quarter worth approximately $92,000. Finally, Renaissance Technologies LLC grew its position in BCB Bancorp, Inc. (NJ) by 5.5% during the 1st quarter. Renaissance Technologies LLC now owns 345,194 shares of the bank's stock worth $3,100,000 after purchasing an additional 18,000 shares in the last quarter. 36.00% of the stock is owned by hedge funds and other institutional investors.

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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