Bank of New York Mellon Corp Has $922,000 Position in BCB Bancorp, Inc. (NASDAQ:BCBP)

Bank of New York Mellon Corp cut its stake in BCB Bancorp, Inc. (NASDAQ:BCBP) by 3.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,776 shares of the bank’s stock after selling 3,351 shares during the quarter. Bank of New York Mellon Corp owned 0.51% of BCB Bancorp worth $922,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BCBP. CWM LLC raised its stake in BCB Bancorp by 1,232.6% during the 2nd quarter. CWM LLC now owns 2,492 shares of the bank’s stock worth $26,000 after buying an additional 2,305 shares during the period. BNP Paribas Financial Markets raised its position in shares of BCB Bancorp by 92.5% during the first quarter. BNP Paribas Financial Markets now owns 7,201 shares of the bank’s stock worth $75,000 after purchasing an additional 3,460 shares during the period. Quadrature Capital Ltd raised its position in shares of BCB Bancorp by 25.1% during the first 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. Empowered Funds LLC lifted its holdings in shares of BCB Bancorp by 8.1% during the 1st quarter. Empowered Funds LLC now owns 64,643 shares of the bank’s stock valued at $676,000 after purchasing an additional 4,867 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position 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 during the period. 36.00% of the stock is currently owned by institutional investors and hedge funds.

BCB Bancorp Stock Down 2.3 %

NASDAQ:BCBP opened at $12.60 on Friday. The stock has a 50-day simple moving average of $12.05 and a 200 day simple moving average of $10.78. BCB Bancorp, Inc. has a 52-week low of $9.19 and a 52-week high of $13.90. The company has a market cap of $213.66 million, a PE ratio of 8.08 and a beta of 0.58. 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 (NASDAQ:BCBP) last issued its quarterly earnings results on Friday, July 19th. The bank reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.16). BCB Bancorp had a return on equity of 7.42% and a net margin of 10.67%. The business had revenue of $20.41 million for the quarter, compared to the consensus estimate of $24.65 million. On average, sell-side analysts expect that BCB Bancorp, Inc. will post 1.32 EPS for the current fiscal year.

BCB Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were paid a $0.16 dividend. The ex-dividend date was Friday, August 2nd. This represents a $0.64 annualized dividend and a yield of 5.08%. BCB Bancorp’s payout ratio is currently 41.03%.

Wall Street Analyst Weigh In

Several brokerages have commented on BCBP. Keefe, Bruyette & Woods raised their target price on shares of BCB Bancorp from $12.00 to $13.00 and gave the stock a “market perform” rating in a report on Tuesday, July 23rd. Piper Sandler raised their price objective on shares of BCB Bancorp from $11.50 to $14.00 and gave the stock a “neutral” rating in a report on Monday, July 29th.

BCB Bancorp Profile

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.