Voya Investment Management LLC Cuts Stock Position in BCB Bancorp, Inc. (NJ) $BCBP

Key Points

• Voya Investment Management LLC reduced its stake in BCB Bancorp, Inc. by 15%, selling 48,186 shares and holding 272,910 shares worth approximately $2.69 million.
• BCB Bancorp, Inc. recently announced a quarterly dividend of $0.16 per share, providing an annual yield of 7.4% despite a high payout ratio of 336.84%.
• Analysts currently rate BCB Bancorp, Inc. with an average rating of "Hold" and a price target of $9.50, with recent upgrades and downgrades reflecting mixed sentiment.

Voya Investment Management LLC decreased its position in BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 272,910 shares of the bank's stock after selling 48,186 shares during the period. Voya Investment Management LLC owned 1.59% of BCB Bancorp, Inc. (NJ) worth $2,691,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BCBP. Bank of America Corp DE raised its position in shares of BCB Bancorp, Inc. (NJ) by 12.4% during the fourth quarter. Bank of America Corp DE now owns 19,022 shares of the bank's stock worth $225,000 after purchasing an additional 2,092 shares during the period. GAMMA Investing LLC boosted its stake in shares of BCB Bancorp, Inc. (NJ) by 1,513.7% during the 1st quarter. GAMMA Investing LLC now owns 4,486 shares of the bank's stock worth $455,000 after acquiring an additional 4,208 shares during the period. Bank of New York Mellon Corp boosted its stake in BCB Bancorp, Inc. (NJ) by 3.5% in the 1st quarter. Bank of New York Mellon Corp now owns 85,052 shares of the bank's stock valued at $839,000 after purchasing an additional 2,904 shares during the period. Private Advisor Group LLC bought a new stake in BCB Bancorp, Inc. (NJ) in the 1st quarter valued at $122,000. Finally, Nuveen LLC acquired a new position in BCB Bancorp, Inc. (NJ) in the 1st quarter valued at $465,000. Institutional investors own 36.00% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods dropped their price objective on 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. Wall Street Zen upgraded BCB Bancorp, Inc. (NJ) from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Piper Sandler upped their price objective on BCB Bancorp, Inc. (NJ) from $9.00 to $9.50 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Finally, Zacks Research raised BCB Bancorp, Inc. (NJ) from a "strong sell" rating to a "hold" rating in a report on Monday, September 8th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $9.50.

BCB Bancorp, Inc. (NJ) Stock Down 1.2%

NASDAQ:BCBP traded down $0.11 on Tuesday, hitting $8.77. The stock had a trading volume of 26,953 shares, compared to its average volume of 66,501. The business's fifty day moving average is $8.67 and its 200 day moving average is $8.76. The company has a market cap of $150.76 million, a PE ratio of 46.18 and a beta of 0.78. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.30. BCB Bancorp, Inc. has a 52 week low of $7.54 and a 52 week high of $14.04.

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

BCB Bancorp, Inc. (NJ) Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date of this dividend was Monday, August 11th. BCB Bancorp, Inc. (NJ)'s dividend payout ratio (DPR) is currently 336.84%.

BCB Bancorp, Inc. (NJ) Company Profile

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.