BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) Sees Large Decline in Short Interest

Key Points

• Short interest dropped 16.5% in April to 458,440 shares (about 3.0% of the stock) with a days-to-cover ratio of 4.7 based on average daily volume of 97,477 shares.
• The board declared a quarterly dividend of $0.08 (annualized $0.32), with an ex-dividend date of May 6 and payment on May 20, implying a yield of 3.2%.
• BCB Bancorp beat Q1 EPS expectations at $0.26 vs. $0.25 estimated while revenue of $24.94M slightly missed forecasts; Wall Street shows mixed ratings with a consensus price target around $10.00.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP - Get Free Report) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totaling 458,440 shares, a decline of 16.5% from the March 31st total of 548,814 shares. Based on an average daily volume of 97,477 shares, the days-to-cover ratio is currently 4.7 days. Currently, 3.0% of the company's stock are short sold.

BCB Bancorp, Inc. (NJ) Stock Down 1.6%

BCB Bancorp, Inc. (NJ) stock opened at $10.15 on Friday. The stock has a market cap of $176.20 million, a PE ratio of -144.98 and a beta of 0.65. 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. has a one year low of $7.31 and a one year high of $10.46. The stock has a fifty day moving average of $8.89 and a 200 day moving average of $8.34.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The bank reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.01. BCB Bancorp, Inc. (NJ) had a net margin of 0.39% and a return on equity of 0.24%. The business had revenue of $24.94 million during the quarter, compared to analysts' expectations of $25.78 million. As a group, sell-side analysts predict that BCB Bancorp, Inc. will post 1.1 EPS for the current year.

BCB Bancorp, Inc. (NJ) Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th will be given a $0.08 dividend. The ex-dividend date is Wednesday, May 6th. This represents a $0.32 dividend on an annualized basis and a yield of 3.2%. BCB Bancorp, Inc. (NJ)'s dividend payout ratio is presently -457.14%.

Insider Buying and Selling at BCB Bancorp, Inc. (NJ)

In other BCB Bancorp, Inc. (NJ) news, Director Mark D. Hogan purchased 5,000 shares of the firm's stock in a transaction dated Friday, February 27th. The stock was purchased at an average price of $7.97 per share, for a total transaction of $39,850.00. Following the completion of the purchase, the director directly owned 103,352 shares of the company's stock, valued at $823,715.44. This trade represents a 5.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 11.50% of the stock is owned by corporate insiders.

Institutional Trading of BCB Bancorp, Inc. (NJ)

A number of hedge funds and other institutional investors have recently bought and sold shares of BCBP. Empowered Funds LLC increased its position in BCB Bancorp, Inc. (NJ) by 3.9% in the first quarter. Empowered Funds LLC now owns 62,609 shares of the bank's stock worth $617,000 after buying an additional 2,365 shares in the last quarter. Jane Street Group LLC purchased a new stake in BCB Bancorp, Inc. (NJ) in the first quarter worth about $146,000. Geode Capital Management LLC increased its position in 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 buying an additional 21,035 shares in the last quarter. Rhumbline Advisers increased its position in BCB Bancorp, Inc. (NJ) by 14.4% in the second quarter. Rhumbline Advisers now owns 24,763 shares of the bank's stock worth $208,000 after buying an additional 3,110 shares in the last quarter. Finally, Invesco Ltd. purchased a new stake in BCB Bancorp, Inc. (NJ) in the second quarter worth about $91,000. Hedge funds and other institutional investors own 36.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. 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. Weiss Ratings reissued a "sell (d)" rating on shares of BCB Bancorp, Inc. (NJ) in a report on Friday, March 27th. Zacks Research cut shares of BCB Bancorp, Inc. (NJ) from a "strong-buy" rating to a "hold" rating in a report on Friday, April 10th. Finally, Piper Sandler boosted their price objective on shares of BCB Bancorp, Inc. (NJ) from $9.00 to $11.00 and gave the company a "neutral" rating in a report on Wednesday, April 22nd. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $10.00.

BCB Bancorp, Inc. (NJ) Company Profile

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.

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