DA Davidson Has Negative View of BCB Bancorp FY2024 Earnings

BCB Bancorp, Inc. (NASDAQ:BCBP) – Investment analysts at DA Davidson reduced their FY2024 earnings estimates for shares of BCB Bancorp in a research report issued to clients and investors on Tuesday, October 22nd. DA Davidson analyst M. Navas now expects that the bank will post earnings of $1.25 per share for the year, down from their previous estimate of $1.30. The consensus estimate for BCB Bancorp’s current full-year earnings is $1.32 per share. DA Davidson also issued estimates for BCB Bancorp’s Q4 2024 earnings at $0.27 EPS.

BCB Bancorp (NASDAQ:BCBP) last posted its earnings results on Friday, October 18th. The bank reported $0.36 earnings per share for the quarter, beating the consensus estimate 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 net margin of 10.67% and a return on equity of 7.42%.

Several other equities analysts have also commented on the company. Piper Sandler upped their price target on BCB Bancorp from $11.50 to $14.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods boosted their price objective on shares of BCB Bancorp from $13.25 to $13.50 and gave the company a “market perform” rating in a report on Tuesday.

BCB Bancorp Trading Up 0.2 %

BCBP opened at $11.94 on Wednesday. The stock has a market capitalization of $202.47 million, a PE ratio of 7.65 and a beta of 0.57. BCB Bancorp has a one year low of $9.19 and a one year high of $13.90. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.19 and a current ratio of 1.21. The business’s 50 day moving average price is $12.20 and its 200 day moving average price is $11.11.

Hedge Funds Weigh In On BCB Bancorp

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC purchased a new stake in shares of BCB Bancorp during the second quarter worth $334,000. Vanguard Group Inc. lifted its stake in BCB Bancorp by 3.3% in the first quarter. Vanguard Group Inc. now owns 775,070 shares of the bank’s stock worth $8,099,000 after acquiring an additional 25,064 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in BCB Bancorp by 51.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 53,760 shares of the bank’s stock worth $562,000 after acquiring an additional 18,327 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of BCB Bancorp in the 4th quarter valued at approximately $178,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of BCB Bancorp in the 2nd quarter valued at $119,000. Institutional investors and hedge funds own 36.00% of the company’s stock.

BCB Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date 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.