BCB Bancorp (NASDAQ:BCBP) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of BCB Bancorp (NASDAQ:BCBP) from a hold rating to a buy rating in a report issued on Monday morning, Zacks.com reports. They currently have $15.00 price objective on the bank’s stock.

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. “

Shares of NASDAQ BCBP opened at $12.61 on Monday. BCB Bancorp has a twelve month low of $10.12 and a twelve month high of $15.10. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.47. The company has a market cap of $212.69 million, a P/E ratio of 10.72, a price-to-earnings-growth ratio of 1.09 and a beta of 0.77. The firm has a 50 day moving average price of $12.82.

BCB Bancorp (NASDAQ:BCBP) last issued its quarterly earnings results on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.02. BCB Bancorp had a return on equity of 11.26% and a net margin of 16.31%. The business had revenue of $22.19 million during the quarter, compared to the consensus estimate of $22.73 million. Research analysts forecast that BCB Bancorp will post 1.19 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be issued a $0.14 dividend. The ex-dividend date is Thursday, August 8th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.44%. BCB Bancorp’s dividend payout ratio (DPR) is 55.45%.

A number of institutional investors and hedge funds have recently modified their holdings of BCBP. Meeder Asset Management Inc. bought a new position in BCB Bancorp during the 1st quarter worth $25,000. BNP Paribas Arbitrage SA grew its stake in BCB Bancorp by 405.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,918 shares of the bank’s stock worth $39,000 after buying an additional 2,341 shares during the last quarter. Citigroup Inc. grew its stake in BCB Bancorp by 24.6% during the 4th quarter. Citigroup Inc. now owns 4,640 shares of the bank’s stock worth $48,000 after buying an additional 916 shares during the last quarter. SG Americas Securities LLC bought a new position in BCB Bancorp during the 1st quarter worth $111,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in BCB Bancorp during the 1st quarter worth $127,000. Hedge funds and other institutional investors own 28.28% of the company’s stock.

About BCB Bancorp

BCB Bancorp, Inc operates as a bank 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 company offers deposit products, including interest and non-interest bearing demand, NOW, savings and club, money market, term certificate, interest bearing checking, and individual retirement accounts.

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