Wall Street Zen Downgrades BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) to Strong Sell

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) was downgraded by research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other equities research analysts have also commented on the stock. Weiss Ratings lowered shares of BCB Bancorp, Inc. (NJ) from a “hold (c-)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Keefe, Bruyette & Woods cut their price target on BCB Bancorp, Inc. (NJ) from $11.00 to $8.35 and set a “market perform” rating for the company in a report on Thursday. Finally, Brean Capital cut shares of BCB Bancorp, Inc. (NJ) from a “buy” rating to a “neutral” rating and set a $9.00 price objective for the company. in a research report on Friday. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $9.45.

BCB Bancorp, Inc. (NJ) Stock Performance

NASDAQ BCBP opened at $8.72 on Friday. The stock has a 50-day simple moving average of $9.21 and a two-hundred day simple moving average of $9.58. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.06 and a current ratio of 1.07. The firm has a market capitalization of $157.83 million, a P/E ratio of -7.93 and a beta of 0.69. BCB Bancorp, Inc. has a fifty-two week low of $7.31 and a fifty-two week high of $11.71.

BCB Bancorp, Inc. (NJ) (NASDAQ:BCBP) last posted its earnings results on Monday, August 3rd. The bank reported ($0.85) earnings per share for the quarter, missing the consensus estimate of $0.25 by ($1.10). The firm had revenue of $22.88 million for the quarter, compared to analysts’ expectations of $25.55 million. BCB Bancorp, Inc. (NJ) had a negative net margin of 10.21% and a negative return on equity of 6.29%. On average, equities analysts forecast that BCB Bancorp, Inc. will post -0.48 earnings per share for the current year.

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

Hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its holdings in shares of BCB Bancorp, Inc. (NJ) by 247.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,105 shares of the bank’s stock valued at $37,000 after purchasing an additional 2,922 shares in the last quarter. Cannell & Spears LLC purchased a new stake in BCB Bancorp, Inc. (NJ) in the first quarter valued at $92,000. World Investment Advisors acquired a new position in BCB Bancorp, Inc. (NJ) in the fourth quarter valued at $358,000. Bank of America Corp DE boosted its stake in BCB Bancorp, Inc. (NJ) by 80.1% in the first quarter. Bank of America Corp DE now owns 45,656 shares of the bank’s stock valued at $410,000 after acquiring an additional 20,300 shares in the last quarter. Finally, Strs Ohio boosted its stake in BCB Bancorp, Inc. (NJ) by 3.3% in the first quarter. Strs Ohio now owns 66,500 shares of the bank’s stock valued at $597,000 after acquiring an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 36.00% of the company’s stock.

More BCB Bancorp, Inc. (NJ) News

Here are the key news stories impacting BCB Bancorp, Inc. (NJ) this week:

• Positive Sentiment: BCB Bancorp completed a public offering of 12.65 million common shares at $7.75 per share, including the underwriter’s full 1.65 million-share overallotment. The offering generated approximately $98 million in gross proceeds, providing additional capital for BCB Community Bank and potentially strengthening its balance sheet. BCB Bancorp offering closing
• Neutral Sentiment: Brean Capital downgraded BCBP from “buy” to “neutral” but assigned a $9.00 price target, implying limited potential upside from the referenced price. Brean Capital rating update
• Neutral Sentiment: Keefe, Bruyette & Woods lowered its price target from $11.00 to $8.35 and maintained a “market perform” rating, reflecting reduced expectations for the bank’s near-term performance. KBW price target update
• Negative Sentiment: The stock offering substantially increases the share count, creating dilution for existing shareholders. The shares were priced below the referenced market price, which can pressure the stock.
• Negative Sentiment: BCB Bancorp disclosed a portfolio of problem loans and warned that it expects a third-quarter net loss. The combination of deteriorating credit quality and anticipated losses is likely the main reason for recent selling pressure. BCB Bancorp problem loans and loss warning

About BCB Bancorp, Inc. (NJ)

BCB Bancorp, Inc is the holding company for BCB Community Bank, a community-focused banking institution headquartered in Bayonne, New Jersey. Through its banking subsidiary, the company provides deposit, lending and other financial services to individuals, families and businesses.

BCB Community Bank offers checking, savings, money market and certificate of deposit accounts, along with residential and commercial real estate loans, construction financing, commercial and industrial loans, consumer loans and home equity products.