BCB Bancorp (BCBP) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of BCB Bancorp (NASDAQ:BCBP) from a buy rating to a hold rating in a research report report published on Tuesday.

According to Zacks, “BCB Bancorp, Inc. operates as the holding company for BCB Community Bank, a state chartered commercial bank that provides banking products and services to businesses and individuals in the United States. The Bank is a community-oriented financial institution. Its business is to offer Federal Deposit Insurance Corporation (FDIC)-insured deposit products and to invest funds held in deposit accounts at the Bank, together with funds generated from operations, in loans and investment securities. The company offers deposit products, including savings and club accounts, interest and non-interest bearing demand accounts, money market accounts, certificates of deposit, individual retirement accounts, and term certificate accounts. In addition, the company offers retail and commercial banking services comprising wire transfers, money orders, safe deposit boxes, night depository services, debit cards, online and mobile banking services, gift cards, fraud detection services, and automated teller services. “

A number of other research analysts have also recently weighed in on BCBP. ValuEngine cut shares of BCB Bancorp from a buy rating to a hold rating in a report on Friday, September 8th. Keefe, Bruyette & Woods assumed coverage on shares of BCB Bancorp in a report on Thursday, September 14th. They issued an outperform rating and a $14.00 price objective for the company. Finally, DA Davidson assumed coverage on shares of BCB Bancorp in a report on Thursday, September 14th. They issued a buy rating and a $15.00 price objective for the company. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. BCB Bancorp currently has a consensus rating of Buy and an average price target of $14.50.

BCB Bancorp (BCBP) opened at $14.80 on Tuesday. The stock has a market cap of $222.09, a price-to-earnings ratio of 16.44, a P/E/G ratio of 1.59 and a beta of 0.43. BCB Bancorp has a 1 year low of $12.05 and a 1 year high of $17.05. The company has a current ratio of 1.12, a quick ratio of 1.11 and a debt-to-equity ratio of 0.86.

BCB Bancorp (NASDAQ:BCBP) last posted its earnings results on Thursday, October 19th. The bank reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. The company had revenue of $17.21 million during the quarter, compared to the consensus estimate of $17.70 million. BCB Bancorp had a net margin of 14.19% and a return on equity of 9.04%. equities analysts anticipate that BCB Bancorp will post 0.92 EPS for the current fiscal year.

In other news, Director James G. Rizzo acquired 1,750 shares of the business’s stock in a transaction on Tuesday, November 28th. The stock was bought at an average price of $14.53 per share, with a total value of $25,427.50. Following the completion of the acquisition, the director now owns 48,500 shares of the company’s stock, valued at $704,705. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired 5,180 shares of company stock valued at $74,309 in the last ninety days. 16.76% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BCBP. Wells Fargo & Company MN increased its holdings in BCB Bancorp by 2,369.8% in the third quarter. Wells Fargo & Company MN now owns 9,904 shares of the bank’s stock valued at $139,000 after buying an additional 9,503 shares in the last quarter. First Trust Advisors LP purchased a new position in BCB Bancorp in the third quarter valued at $140,000. Rhumbline Advisers purchased a new position in BCB Bancorp in the second quarter valued at $153,000. New York State Common Retirement Fund purchased a new stake in shares of BCB Bancorp during the second quarter worth about $155,000. Finally, Strs Ohio increased its stake in shares of BCB Bancorp by 346.4% during the third quarter. Strs Ohio now owns 12,500 shares of the bank’s stock worth $174,000 after purchasing an additional 9,700 shares in the last quarter. 32.45% of the stock is owned by institutional investors.

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About BCB Bancorp

BCB Bancorp, Inc is the holding company parent of BCB Community Bank (the Bank). The Bank is a community-oriented financial institution. Its business is to offer Federal Deposit Insurance Corporation (FDIC)-insured deposit products and to invest funds held in deposit accounts at the Bank, together with funds generated from operations, in loans and investment securities.

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