BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) Stock Rating Upgraded by Zacks Research

Key Points

• BCB Bancorp, Inc. (NJ) was upgraded from a "strong sell" to a "hold" rating by Zacks Research, indicating a more optimistic outlook for the stock.
• The stock's current consensus rating is "Hold" with a target price of $9.50, following various adjustments from different brokerages.
• Insider trading activity included Director Mark D. Hogan purchasing 10,000 shares at an average cost of $7.74 per share, reflecting confidence in the company's performance.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP - Get Free Report) was upgraded by investment analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Monday, September 8th,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods cut their target price on shares of BCB Bancorp, Inc. (NJ) from $10.50 to $9.50 and set a "market perform" rating for the company in a research report on Tuesday, July 29th. Piper Sandler boosted their price objective on shares of BCB Bancorp, Inc. (NJ) from $9.00 to $9.50 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen raised shares of BCB Bancorp, Inc. (NJ) from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $9.50.

BCB Bancorp, Inc. (NJ) Price Performance

BCBP traded down $0.02 during midday trading on Monday, reaching $8.61. 12,814 shares of the company's stock were exchanged, compared to its average volume of 65,971. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market capitalization of $148.01 million, a PE ratio of 45.32 and a beta of 0.78. The business's 50-day moving average price is $8.72 and its 200 day moving average price is $8.81. BCB Bancorp, Inc. has a 1-year low of $7.54 and a 1-year high of $14.04.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP - Get Free Report) last announced its earnings results on Monday, July 28th. The bank reported $0.18 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.18. The company had revenue of $25.18 million during the quarter, compared to analysts' expectations of $24.51 million. BCB Bancorp, Inc. (NJ) had a net margin of 2.72% and a return on equity of 1.76%. As a group, equities analysts anticipate that BCB Bancorp, Inc. will post 1.24 EPS for the current fiscal year.

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

Several institutional investors and hedge funds have recently bought and sold shares of BCBP. Strs Ohio acquired a new position in BCB Bancorp, Inc. (NJ) during the first quarter worth approximately $477,000. Nuveen LLC acquired a new position in BCB Bancorp, Inc. (NJ) during the first quarter worth approximately $465,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in BCB Bancorp, Inc. (NJ) during the first quarter worth approximately $262,000. Root Financial Partners LLC increased its position in shares of BCB Bancorp, Inc. (NJ) by 78.6% in the first quarter. Root Financial Partners LLC now owns 50,000 shares of the bank's stock worth $493,000 after acquiring an additional 22,000 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of BCB Bancorp, Inc. (NJ) by 5.4% in the second quarter. Geode Capital Management LLC now owns 407,354 shares of the bank's stock worth $3,430,000 after acquiring an additional 21,035 shares in the last quarter. Institutional investors and hedge funds own 36.00% of the company's stock.

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.