Piper Sandler Issues Positive Forecast for BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) Stock Price

Key Points

• Piper Sandler raised its price target on BCB Bancorp from $9.00 to $11.00 while keeping a "neutral" rating, implying roughly a 12.24% upside from the prior close.
• BCBP reported $0.26 EPS for the quarter (beating estimates by $0.01) but missed revenue expectations and still posts a negative net margin and negative return on equity, while the MarketBeat consensus rating remains "Reduce" with a $10.00 target.
• Insider activity and institutional interest are notable: Director Mark D. Hogan bought 5,000 shares at about $7.97, insiders own 11.50% of the stock and hedge funds/institutions hold roughly 36.00%.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP - Get Free Report) had its price target upped by analysts at Piper Sandler from $9.00 to $11.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the bank's stock. Piper Sandler's price target would indicate a potential upside of 12.24% from the stock's previous close.

BCBP has been the topic of several other research reports. Zacks Research lowered shares of BCB Bancorp, Inc. (NJ) from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 10th. Wall Street Zen upgraded shares of BCB Bancorp, Inc. (NJ) from a "strong sell" rating to a "hold" rating in a research report on Saturday, January 31st. Finally, Weiss Ratings restated a "sell (d)" rating on shares of BCB Bancorp, Inc. (NJ) in a research report on Friday, March 27th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $10.00.

BCB Bancorp, Inc. (NJ) Stock Up 4.8%

BCBP stock opened at $9.80 on Wednesday. The firm has a market cap of $170.13 million, a PE ratio of -11.67 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. The firm's fifty day moving average is $8.65 and its 200 day moving average is $8.25. BCB Bancorp, Inc. has a one year low of $7.31 and a one year high of $9.95.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.26 EPS for the quarter, beating the consensus estimate of $0.25 by $0.01. The company had revenue of $24.94 million for the quarter, compared to analyst estimates of $25.78 million. BCB Bancorp, Inc. (NJ) had a negative net margin of 6.90% and a negative return on equity of 4.35%. On average, research analysts forecast that BCB Bancorp, Inc. will post 1.13 EPS for the current year.

Insider Transactions at BCB Bancorp, Inc. (NJ)

In related news, Director Mark D. Hogan acquired 5,000 shares of the firm's stock in a transaction on Friday, February 27th. The shares were acquired at an average cost of $7.97 per share, with a total value of $39,850.00. Following the completion of the acquisition, the director directly owned 103,352 shares in the company, valued at approximately $823,715.44. This trade represents a 5.08% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.50% of the stock is currently owned by insiders.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BCBP. Russell Investments Group Ltd. lifted its stake in shares of BCB Bancorp, Inc. (NJ) by 174.3% in the third quarter. Russell Investments Group Ltd. now owns 4,200 shares of the bank's stock worth $36,000 after buying an additional 2,669 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of BCB Bancorp, Inc. (NJ) by 76.8% in the third quarter. Public Employees Retirement System of Ohio now owns 5,415 shares of the bank's stock worth $47,000 after buying an additional 2,352 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of BCB Bancorp, Inc. (NJ) by 31.8% in the third quarter. BNP Paribas Financial Markets now owns 6,205 shares of the bank's stock worth $54,000 after buying an additional 1,497 shares in the last quarter. Mariner LLC purchased a new position in shares of BCB Bancorp, Inc. (NJ) in the fourth quarter worth about $82,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of BCB Bancorp, Inc. (NJ) in the third quarter worth about $89,000. 36.00% of the stock is owned by hedge funds and other institutional investors.

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.

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