BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) Releases Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• BCB Bancorp reported Q1 EPS of $0.26, beating estimates by $0.01, but the bank remains unprofitable with a negative return on equity (-4.35%) and negative net margin (-6.90%).
• The company has cut its dividend to $0.08 quarterly (annualized $0.32), yielding about 3.3%, and currently shows a negative payout ratio (-38.1%).
• Director Mark D. Hogan purchased 5,000 shares at $7.97 (insiders own 11.5%), institutional ownership is about 36%, and analysts hold a consensus "Reduce" rating with a $9.00 price target.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP - Get Free Report) posted its earnings results on Tuesday. The bank reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.01, Zacks reports. BCB Bancorp, Inc. (NJ) had a negative return on equity of 4.35% and a negative net margin of 6.90%.

BCB Bancorp, Inc. (NJ) Price Performance

Shares of BCBP opened at $9.64 on Tuesday. BCB Bancorp, Inc. has a 52-week low of $7.31 and a 52-week high of $9.86. The firm has a market capitalization of $167.33 million, a PE ratio of -11.48 and a beta of 0.65. The stock has a 50 day simple moving average of $8.62 and a 200 day simple moving average of $8.24. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.12 and a current ratio of 1.12.

BCB Bancorp, Inc. (NJ) Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Wednesday, February 11th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 3.3%. The ex-dividend date was Wednesday, February 11th. BCB Bancorp, Inc. (NJ)'s dividend payout ratio is currently -38.10%.

Insiders Place Their Bets

In other news, Director Mark D. Hogan bought 5,000 shares of BCB Bancorp, Inc. (NJ) stock in a transaction that occurred on Friday, February 27th. The shares were acquired at an average price of $7.97 per share, with a total value of $39,850.00. Following the completion of the purchase, the director directly owned 103,352 shares in the company, valued at $823,715.44. The trade was a 5.08% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 11.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BCBP. Invesco Ltd. boosted its position in shares of BCB Bancorp, Inc. (NJ) by 28.1% during the fourth quarter. Invesco Ltd. now owns 19,585 shares of the bank's stock valued at $158,000 after buying an additional 4,294 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in BCB Bancorp, Inc. (NJ) by 21.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 12,492 shares of the bank's stock valued at $101,000 after purchasing an additional 2,233 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of BCB Bancorp, Inc. (NJ) in the fourth quarter valued at approximately $152,000. Occudo Quantitative Strategies LP acquired a new position in BCB Bancorp, Inc. (NJ) in the fourth quarter valued at about $100,000. Finally, AQR Capital Management LLC increased its position in shares of BCB Bancorp, Inc. (NJ) by 11.2% during the fourth quarter. AQR Capital Management LLC now owns 166,549 shares of the bank's stock worth $1,344,000 after acquiring an additional 16,742 shares during the period. Institutional investors own 36.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BCBP. Piper Sandler boosted their price objective on BCB Bancorp, Inc. (NJ) from $8.50 to $9.00 and gave the company a "neutral" rating in a report on Tuesday, February 10th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of BCB Bancorp, Inc. (NJ) in a research note on Friday, March 27th. Zacks Research cut BCB Bancorp, Inc. (NJ) from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 10th. Finally, Wall Street Zen raised shares of BCB Bancorp, Inc. (NJ) from a "strong sell" rating to a "hold" rating in a report on Saturday, January 31st. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, BCB Bancorp, Inc. (NJ) has an average rating of "Reduce" and a consensus price target of $9.00.

About BCB Bancorp, Inc. (NJ)

BCB Bancorp, Inc is a bank holding company incorporated in New Jersey and traded on the NASDAQ under the symbol BCBP. Its primary subsidiary, Bergen Commercial Bank, operates as a full-service community bank focused on serving the financial needs of individuals and businesses in the New York metropolitan area. Headquartered in Clifton, New Jersey, the company has built its reputation on personalized banking relationships and local decision-making.

BCB Bancorp offers a comprehensive suite of deposit products, including checking accounts, savings accounts, money market accounts, and certificates of deposit.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.