BSB Bancorp (BLMT) Raised to Buy at BidaskClub

BidaskClub upgraded shares of BSB Bancorp (NASDAQ:BLMT) from a hold rating to a buy rating in a research note issued to investors on Saturday.

BLMT stock opened at $35.40 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 3.61. The firm has a market cap of $350.25 million, a price-to-earnings ratio of 17.28 and a beta of 0.42. BSB Bancorp has a 52-week low of $27.25 and a 52-week high of $36.50.

BSB Bancorp (NASDAQ:BLMT) last posted its earnings results on Thursday, April 19th. The bank reported $0.64 earnings per share (EPS) for the quarter. The company had revenue of $16.03 million during the quarter. BSB Bancorp had a return on equity of 10.94% and a net margin of 19.46%.

In other BSB Bancorp news, insider Christopher Y. Downs sold 4,000 shares of the firm’s stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $32.73, for a total transaction of $130,920.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 11,300 shares of company stock valued at $360,375. 14.35% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of BLMT. Dimensional Fund Advisors LP increased its stake in BSB Bancorp by 23.1% during the first quarter. Dimensional Fund Advisors LP now owns 106,257 shares of the bank’s stock worth $3,251,000 after acquiring an additional 19,915 shares during the last quarter. Renaissance Technologies LLC increased its stake in BSB Bancorp by 5.5% during the fourth quarter. Renaissance Technologies LLC now owns 275,660 shares of the bank’s stock worth $8,063,000 after acquiring an additional 14,460 shares during the last quarter. Deutsche Bank AG increased its stake in BSB Bancorp by 88.0% during the fourth quarter. Deutsche Bank AG now owns 28,965 shares of the bank’s stock worth $845,000 after acquiring an additional 13,558 shares during the last quarter. Martingale Asset Management L P acquired a new stake in BSB Bancorp during the fourth quarter worth $337,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of BSB Bancorp by 1.5% during the first quarter. The Manufacturers Life Insurance Company now owns 470,055 shares of the bank’s stock worth $14,383,000 after buying an additional 6,813 shares during the period. 48.64% of the stock is owned by institutional investors.

About BSB Bancorp

BSB Bancorp, Inc operates as the holding company for Belmont Savings Bank that provides commercial and retail banking services to small businesses, municipalities, nonprofit organizations, and other customers in the United States. Its deposit products include relationship checking accounts for consumers and businesses, passbook and statement savings accounts, certificates of deposit, money market accounts, interest on lawyer trust accounts, and individual retirement accounts, as well as commercial, municipal, and regular checking accounts.

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