Keefe, Bruyette & Woods Issues Pessimistic Forecast for BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) Stock Price

Key Points

• Keefe, Bruyette & Woods cut BCB Bancorp’s price target from $11.00 to $8.35 while maintaining a “market perform” rating, implying roughly 1.2% downside from the prior close. The analyst consensus is “Reduce,” with an average target of $9.68.
• BCB Bancorp reported a significant quarterly loss, with EPS of -$0.85 versus the $0.25 consensus estimate, while revenue of $22.88 million also fell short of expectations.
• The stock traded at $8.45, near its 12-month low of $7.31, after declining below both its 50-day and 200-day moving averages. Institutional investors own approximately 36% of the company.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP - Get Free Report) had its price target lowered by analysts at Keefe, Bruyette & Woods from $11.00 to $8.35 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' target price would suggest a potential downside of 1.20% from the company's previous close.

Several other analysts have also issued reports on BCBP. Wall Street Zen lowered shares of BCB Bancorp, Inc. (NJ) from a "hold" rating to a "sell" rating in a research report on Monday, August 17th. Weiss Ratings downgraded shares of BCB Bancorp, Inc. (NJ) from a "hold (c-)" rating to a "sell (d)" rating in a research report on Tuesday, August 11th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $9.68.

BCB Bancorp, Inc. (NJ) Stock Performance

BCB Bancorp, Inc. (NJ) stock traded up $0.20 during mid-day trading on Thursday, reaching $8.45. 1,205,342 shares of the stock traded hands, compared to its average volume of 135,990. BCB Bancorp, Inc. has a 12-month low of $7.31 and a 12-month high of $11.71. The business's 50-day moving average is $9.27 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 stock has a market capitalization of $152.96 million, a PE ratio of -7.67 and a beta of 0.69.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP - Get Free Report) last announced 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). 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 during the quarter, compared to analysts' expectations of $25.55 million. As a group, sell-side analysts predict that BCB Bancorp, Inc. will post -0.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BCBP. Renaissance Technologies LLC boosted its stake in shares of BCB Bancorp, Inc. (NJ) by 5.5% in the first quarter. Renaissance Technologies LLC now owns 345,194 shares of the bank's stock worth $3,100,000 after acquiring an additional 18,000 shares during the period. 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. Root Financial Partners LLC boosted its stake in BCB Bancorp, Inc. (NJ) by 14.7% in the 4th quarter. Root Financial Partners LLC now owns 82,000 shares of the bank's stock worth $662,000 after purchasing an additional 10,500 shares during the period. Empowered Funds LLC boosted its stake in BCB Bancorp, Inc. (NJ) by 67.6% in the 1st quarter. Empowered Funds LLC now owns 79,006 shares of the bank's stock worth $709,000 after purchasing an additional 31,880 shares during the period. Finally, Strs Ohio grew its holdings in BCB Bancorp, Inc. (NJ) by 3.3% during the 1st quarter. Strs Ohio now owns 66,500 shares of the bank's stock valued at $597,000 after buying an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 36.00% of the company's stock.

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.

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