Short Interest in BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) Expands By 22.7%

Key Points

• Short interest in BCBP rose 22.7% in March to 559,586 shares (about 3.7% of shares sold short) with a days-to-cover ratio of 6.3.
• BCB Bancorp reported a steep quarterly loss of -$0.73 per share vs. estimates of $0.14, leaving negative net margin and ROE; analysts are mixed with a consensus "Hold" and a $9.00 price target.
• Director Mark D. Hogan bought 5,000 shares at roughly $7.97 on Feb. 27, raising his stake to 103,352 shares, and insiders collectively own 15.86% of the company.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP - Get Free Report) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 559,586 shares, an increase of 22.7% from the February 26th total of 456,121 shares. Currently, 3.7% of the shares of the stock are sold short. Based on an average trading volume of 88,217 shares, the days-to-cover ratio is currently 6.3 days.

BCB Bancorp, Inc. (NJ) Stock Performance

Shares of NASDAQ BCBP opened at $8.64 on Monday. BCB Bancorp, Inc. has a 1-year low of $7.31 and a 1-year high of $10.16. The company has a 50-day moving average of $8.19 and a two-hundred day moving average of $8.17. The company has a market cap of $149.98 million, a PE ratio of -10.29 and a beta of 0.74. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.00.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP - Get Free Report) last issued its quarterly earnings results on Friday, January 30th. The bank reported ($0.73) earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.87). BCB Bancorp, Inc. (NJ) had a negative net margin of 6.90% and a negative return on equity of 4.35%. The company had revenue of $26.17 million during the quarter, compared to analyst estimates of $25.22 million. As a group, equities analysts expect that BCB Bancorp, Inc. will post 1.24 earnings per share for the current fiscal year.

BCB Bancorp, Inc. (NJ) Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Wednesday, February 11th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Wednesday, February 11th. BCB Bancorp, Inc. (NJ)'s dividend payout ratio (DPR) is presently -38.10%.

Analysts Set New Price Targets

BCBP has been the subject of several analyst reports. Zacks Research raised shares of BCB Bancorp, Inc. (NJ) from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 12th. Piper Sandler upped their price objective on shares of BCB Bancorp, Inc. (NJ) from $8.50 to $9.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 10th. Wall Street Zen raised BCB Bancorp, Inc. (NJ) from a "strong sell" rating to a "hold" rating in a report on Saturday, January 31st. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of BCB Bancorp, Inc. (NJ) in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $9.00.

Insider Activity at BCB Bancorp, Inc. (NJ)

In other news, Director Mark D. Hogan bought 5,000 shares of BCB Bancorp, Inc. (NJ) stock in a transaction dated Friday, February 27th. The shares were bought at an average price of $7.97 per share, for a total transaction of $39,850.00. Following the purchase, the director owned 103,352 shares of the company's stock, valued at approximately $823,715.44. This trade represents a 5.08% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 15.86% of the company's stock.

Institutional Investors Weigh In On BCB Bancorp, Inc. (NJ)

A number of institutional investors and hedge funds have recently made changes to their positions in BCBP. BNP Paribas Financial Markets lifted its stake in shares of BCB Bancorp, Inc. (NJ) by 31.8% during the third quarter. BNP Paribas Financial Markets now owns 6,205 shares of the bank's stock valued at $54,000 after acquiring an additional 1,497 shares during the period. Barclays PLC increased its position in BCB Bancorp, Inc. (NJ) by 2.0% in the fourth quarter. Barclays PLC now owns 81,340 shares of the bank's stock worth $656,000 after purchasing an additional 1,565 shares during the period. Strs Ohio raised its holdings in BCB Bancorp, Inc. (NJ) by 2.9% during the 4th quarter. Strs Ohio now owns 64,400 shares of the bank's stock worth $520,000 after purchasing an additional 1,800 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in BCB Bancorp, Inc. (NJ) by 21.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 12,492 shares of the bank's stock worth $101,000 after purchasing an additional 2,233 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in BCB Bancorp, Inc. (NJ) by 76.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,415 shares of the bank's stock valued at $47,000 after purchasing an additional 2,352 shares during the period. Institutional investors own 36.00% of the company's stock.

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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