BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) Plans Quarterly Dividend of $0.16

Key Points

• BCB Bancorp, Inc. has declared a quarterly dividend of $0.16 per share, which equates to an annualized dividend of $0.64 and a yield of 7.60%, with the payment date set for August 25th.
• The company's dividend payout ratio stands at 46.4%, suggesting that the dividend is well-supported by earnings, with analysts forecasting earnings of $1.56 per share for the coming year.
• Shares of BCB Bancorp, Inc. fell 4.2% to $8.42, with analysts at Keefe, Bruyette & Woods lowering their price target for the stock from $10.50 to $9.50.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP - Get Free Report) declared a quarterly dividend on Tuesday, July 29th, Wall Street Journal reports. Stockholders of record on Monday, August 11th will be paid a dividend of 0.16 per share by the bank on Monday, August 25th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 7.60%. The ex-dividend date of this dividend is Monday, August 11th.

BCB Bancorp, Inc. (NJ) has a dividend payout ratio of 46.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect BCB Bancorp, Inc. (NJ) to earn $1.56 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 41.0%.

BCB Bancorp, Inc. (NJ) Stock Down 4.2%

Shares of BCB Bancorp, Inc. (NJ) stock traded down $0.37 on Tuesday, reaching $8.42. 101,937 shares of the company were exchanged, compared to its average volume of 67,981. BCB Bancorp, Inc. has a 1-year low of $7.54 and a 1-year high of $14.04. The company has a market cap of $144.49 million, a P/E ratio of 56.13 and a beta of 0.71. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.19 and a quick ratio of 1.19. The stock's 50 day moving average price is $8.38 and its 200-day moving average price is $9.34.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The bank reported $0.18 EPS for the quarter, hitting analysts' consensus estimates of $0.18. BCB Bancorp, Inc. (NJ) had a return on equity of 1.50% and a net margin of 2.31%. The business had revenue of $25.18 million during the quarter, compared to the consensus estimate of $24.51 million. As a group, equities analysts forecast that BCB Bancorp, Inc. will post 1.24 EPS for the current year.

Insider Transactions at BCB Bancorp, Inc. (NJ)

In other BCB Bancorp, Inc. (NJ) news, Director Mark D. Hogan purchased 10,000 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average cost of $7.74 per share, with a total value of $77,400.00. Following the completion of the acquisition, the director directly owned 621,140 shares of the company's stock, valued at $4,807,623.60. This trade represents a 1.64% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 23,880 shares of company stock valued at $188,201 over the last three months. Corporate insiders own 13.87% of the company's stock.

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

A hedge fund recently raised its stake in BCB Bancorp, Inc. (NJ) stock. Empowered Funds LLC raised its position in BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP - Free Report) by 3.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,609 shares of the bank's stock after buying an additional 2,365 shares during the quarter. Empowered Funds LLC owned approximately 0.36% of BCB Bancorp, Inc. (NJ) worth $617,000 as of its most recent filing with the Securities and Exchange Commission. 36.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lowered their price target on BCB Bancorp, Inc. (NJ) from $10.50 to $9.50 and set a "market perform" rating for the company in a report on Tuesday.

About BCB Bancorp, Inc. (NJ)

BCB Bancorp, Inc operates as a bank holding company for BCB Community Bank that engages in the provision of banking products and services to businesses and individuals in the United States. The company offers insured deposit products, including savings and club accounts, interest and non-interest-bearing demand accounts, money market accounts, certificates of deposit, and individual retirement accounts.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.