Piper Sandler Forecasts Strong Price Appreciation for BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) Stock

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) had its price objective lifted by equities research analysts at Piper Sandler from $8.50 to $9.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. Piper Sandler’s price objective would indicate a potential upside of 8.56% from the company’s current price.

A number of other equities analysts have also recently commented on BCBP. Wall Street Zen upgraded BCB Bancorp, Inc. (NJ) from a “strong sell” rating to a “hold” rating in a report on Saturday, January 31st. Zacks Research downgraded BCB Bancorp, Inc. (NJ) from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BCB Bancorp, Inc. (NJ) in a research note on Monday, December 29th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of BCB Bancorp, Inc. (NJ) from $9.50 to $9.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 28th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $9.00.

BCB Bancorp, Inc. (NJ) Stock Down 1.3%

Shares of NASDAQ BCBP opened at $8.29 on Tuesday. The firm’s 50-day moving average price is $8.10 and its 200-day moving average price is $8.25. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $142.84 million, a price-to-earnings ratio of -9.87 and a beta of 0.77. BCB Bancorp, Inc. has a 12-month low of $7.31 and a 12-month high of $10.47.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) last released its quarterly earnings results on Friday, January 30th. The bank reported ($0.73) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.87). BCB Bancorp, Inc. (NJ) had a negative return on equity of 4.30% and a negative net margin of 6.90%.The company had revenue of $26.17 million during the quarter, compared to analysts’ expectations of $25.22 million. On average, equities research analysts anticipate that BCB Bancorp, Inc. will post 1.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BCBP. Empowered Funds LLC lifted its holdings in BCB Bancorp, Inc. (NJ) by 3.9% during the 1st quarter. Empowered Funds LLC now owns 62,609 shares of the bank’s stock valued at $617,000 after buying an additional 2,365 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of BCB Bancorp, Inc. (NJ) during the first quarter worth approximately $146,000. Ibex Wealth Advisors purchased a new position in shares of BCB Bancorp, Inc. (NJ) during the second quarter worth approximately $126,000. Geode Capital Management LLC raised its stake in shares of BCB Bancorp, Inc. (NJ) by 5.4% during the second quarter. Geode Capital Management LLC now owns 407,354 shares of the bank’s stock valued at $3,430,000 after acquiring an additional 21,035 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in shares of BCB Bancorp, Inc. (NJ) during the second quarter valued at approximately $28,000. 36.00% of the stock is currently owned by 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.