Bogota Financial (NASDAQ:BSBK) Stock Price Up 1.9% - Time to Buy?

Key Points

• Bogota Financial shares rose 1.9% to $9.43 in midday trading, although volume was about 9% below average. The stock trades above its 50-day and 200-day moving averages.
• Analysts maintain a “Hold” consensus, with Weiss Ratings reiterating its “hold (c)” rating. The company’s latest quarterly EPS of $0.06 missed estimates of $0.09, while revenue matched expectations at $4.5 million.
• Bogota Financial has a $120.3 million market capitalization and a relatively high P/E ratio of 44.9; institutional investors own 11.63% of its shares, with several funds recently increasing or initiating positions.

Bogota Financial Corporation (NASDAQ:BSBK - Get Free Report) shares were up 1.9% on Thursday . The company traded as high as $9.43 and last traded at $9.43. Approximately 10,075 shares were traded during mid-day trading, a decline of 9% from the average session volume of 11,082 shares. The stock had previously closed at $9.25.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Bogota Financial in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold".

Bogota Financial Price Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 0.99 and a quick ratio of 0.99. The company's 50 day simple moving average is $9.05 and its 200 day simple moving average is $8.70. The company has a market capitalization of $120.33 million, a PE ratio of 44.90 and a beta of 0.14.

Bogota Financial (NASDAQ:BSBK - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). Bogota Financial had a net margin of 6.00% and a return on equity of 1.83%. The company had revenue of $4.50 million during the quarter, compared to analyst estimates of $4.50 million.

Institutional Trading of Bogota Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Bogota Financial by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 188,608 shares of the company's stock valued at $1,741,000 after purchasing an additional 8,517 shares during the last quarter. Renaissance Technologies LLC grew its stake in Bogota Financial by 5.9% during the 4th quarter. Renaissance Technologies LLC now owns 30,551 shares of the company's stock worth $258,000 after buying an additional 1,700 shares during the last quarter. BlackRock Inc. acquired a new position in Bogota Financial during the second quarter worth approximately $142,000. Donald Smith & CO. Inc. acquired a new position in Bogota Financial during the second quarter worth approximately $13,054,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in Bogota Financial in the second quarter valued at approximately $27,000. Institutional investors and hedge funds own 11.63% of the company's stock.

About Bogota Financial

Bogota Financial Corp NASDAQ: BSBK is the bank holding company for Bogota Savings Bank, a New Jersey-chartered savings institution headquartered in Bogota, New Jersey. As a community-focused financial services provider, the company offers a range of deposit, lending and cash management solutions tailored to individuals, small businesses and commercial clients in Bergen County and surrounding areas.

The company's deposit portfolio includes checking and savings accounts, money market deposit accounts, certificates of deposit and individual retirement accounts.

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