BCB Bancorp (NASDAQ:BCBP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $17.00 target price on the bank’s stock. Zacks Investment Research‘s target price suggests a potential upside of 8.28% from the company’s current price.
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. “
BCB Bancorp (BCBP) opened at $15.70 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.11 and a current ratio of 1.12. BCB Bancorp has a 1 year low of $12.05 and a 1 year high of $17.05. The stock has a market cap of $228.48, a price-to-earnings ratio of 18.69, a P/E/G ratio of 1.27 and a beta of 0.47.
In related news, Director James G. Rizzo bought 1,750 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were bought at an average price of $14.53 per share, for a total transaction of $25,427.50. Following the transaction, the director now directly owns 48,500 shares of the company’s stock, valued at $704,705. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.76% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its position in shares of BCB Bancorp by 2,369.8% during the 3rd quarter. Wells Fargo & Company MN now owns 9,904 shares of the bank’s stock valued at $139,000 after acquiring an additional 9,503 shares during the period. First Trust Advisors LP acquired a new position in shares of BCB Bancorp during the 3rd quarter valued at $140,000. New York State Common Retirement Fund acquired a new position in shares of BCB Bancorp during the 2nd quarter valued at $155,000. QS Investors LLC acquired a new position in shares of BCB Bancorp during the 4th quarter valued at $166,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of BCB Bancorp by 16,145.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 11,697 shares of the bank’s stock valued at $170,000 after acquiring an additional 11,625 shares during the period. Institutional investors own 30.57% of the company’s stock.
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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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