Short Interest in BCB Bancorp, Inc. (NASDAQ:BCBP) Declines By 6.3%

BCB Bancorp, Inc. (NASDAQ:BCBP) was the recipient of a large decrease in short interest in October. As of October 15th, there was short interest totalling 81,500 shares, a decrease of 6.3% from the September 30th total of 87,000 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 46,100 shares, the days-to-cover ratio is currently 1.8 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC increased its holdings in shares of BCB Bancorp by 105.3% during the 3rd quarter. CWM LLC now owns 5,116 shares of the bank’s stock worth $63,000 after buying an additional 2,624 shares during the last quarter. AQR Capital Management LLC acquired a new stake in BCB Bancorp during the second quarter worth about $334,000. Allspring Global Investments Holdings LLC purchased a new position in shares of BCB Bancorp in the 2nd quarter worth about $119,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of BCB Bancorp by 51.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 53,760 shares of the bank’s stock valued at $562,000 after purchasing an additional 18,327 shares in the last quarter. Finally, Quadrature Capital Ltd grew its holdings in shares of BCB Bancorp by 25.1% during the 1st quarter. Quadrature Capital Ltd now owns 17,348 shares of the bank’s stock worth $181,000 after purchasing an additional 3,483 shares during the period. Institutional investors and hedge funds own 36.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods raised their price target on BCB Bancorp from $13.25 to $13.50 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Piper Sandler lifted their price objective on BCB Bancorp from $11.50 to $14.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th.

BCB Bancorp Trading Down 0.3 %

NASDAQ BCBP traded down $0.04 during mid-day trading on Thursday, reaching $12.31. 2,456 shares of the stock were exchanged, compared to its average volume of 47,590. The stock has a market capitalization of $208.74 million, a PE ratio of 7.92 and a beta of 0.57. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.19 and a current ratio of 1.21. BCB Bancorp has a 1-year low of $9.19 and a 1-year high of $13.90. The business’s fifty day simple moving average is $12.25 and its 200 day simple moving average is $11.19.

BCB Bancorp (NASDAQ:BCBP) last issued its quarterly earnings results on Friday, October 18th. The bank reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. The company had revenue of $51.75 million for the quarter, compared to analyst estimates of $25.29 million. BCB Bancorp had a return on equity of 7.42% and a net margin of 10.67%. On average, research analysts anticipate that BCB Bancorp will post 1.32 earnings per share for the current fiscal year.

BCB Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend is Friday, November 1st. BCB Bancorp’s payout ratio is 41.03%.

About BCB Bancorp

BCB Bancorp, Inc operates as a bank holding company for BCB Community Bank that engages in the provision of banking products and services to businesses and individuals in the United States. The company offers insured deposit products, including savings and club accounts, interest and non-interest-bearing demand accounts, money market accounts, certificates of deposit, and individual retirement accounts.