BCB Bancorp, Inc. (NASDAQ:BCBP) Expected to Post Q1 2023 Earnings of $0.71 Per Share

Posted by Defense World Staff on Apr 7th, 2023

BCB Bancorp, Inc. (NASDAQ:BCBP – Get Rating) – Investment analysts at DA Davidson cut their Q1 2023 earnings per share estimates for shares of BCB Bancorp in a research note issued on Wednesday, April 5th. DA Davidson analyst M. Navas now expects that the bank will post earnings of $0.71 per share for the quarter, down from their previous forecast of $0.74. The consensus estimate for BCB Bancorp’s current full-year earnings is $2.74 per share. DA Davidson also issued estimates for BCB Bancorp’s FY2023 earnings at $2.60 EPS and FY2024 earnings at $2.60 EPS.

Separately, StockNews.com started coverage on BCB Bancorp in a research note on Thursday, March 16th. They issued a “hold” rating on the stock.

BCB Bancorp Stock Down 0.1 %

Shares of BCBP stock opened at $12.03 on Thursday. The stock’s 50 day simple moving average is $15.79 and its 200 day simple moving average is $17.53. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.17 and a current ratio of 1.17. BCB Bancorp has a twelve month low of $11.88 and a twelve month high of $20.71. The company has a market capitalization of $203.43 million, a price-to-earnings ratio of 4.64 and a beta of 0.61.

BCB Bancorp (NASDAQ:BCBP – Get Rating) last issued its quarterly earnings data on Thursday, January 26th. The bank reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.06). BCB Bancorp had a net margin of 34.26% and a return on equity of 17.58%. The company had revenue of $31.24 million during the quarter, compared to the consensus estimate of $35.70 million.

BCB Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 17th. Shareholders of record on Friday, February 3rd were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 5.32%. The ex-dividend date of this dividend was Thursday, February 2nd. BCB Bancorp’s dividend payout ratio is currently 24.71%.

Insider Transactions at BCB Bancorp

In related news, insider David Roque Garcia acquired 2,000 shares of the stock in a transaction dated Wednesday, March 15th. The shares were acquired at an average price of $13.88 per share, for a total transaction of $27,760.00. Following the completion of the purchase, the insider now owns 3,000 shares in the company, valued at approximately $41,640. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired a total of 8,300 shares of company stock worth $115,723 over the last three months. 16.44% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BCB Bancorp

Several hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its stake in BCB Bancorp by 173.0% during the first quarter. JPMorgan Chase & Co. now owns 15,045 shares of the bank’s stock valued at $275,000 after acquiring an additional 9,535 shares during the period. American Century Companies Inc. increased its position in shares of BCB Bancorp by 29.7% during the first quarter. American Century Companies Inc. now owns 66,826 shares of the bank’s stock valued at $1,220,000 after purchasing an additional 15,301 shares during the period. Citigroup Inc. acquired a new position in shares of BCB Bancorp in the first quarter valued at $235,000. Dimensional Fund Advisors LP lifted its position in BCB Bancorp by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 839,823 shares of the bank’s stock worth $15,327,000 after purchasing an additional 27,577 shares during the period. Finally, UBS Group AG lifted its position in BCB Bancorp by 199.9% in the first quarter. UBS Group AG now owns 2,981 shares of the bank’s stock worth $54,000 after purchasing an additional 1,987 shares during the period. Institutional investors own 39.78% of the company’s stock.

About BCB Bancorp

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BCB Bancorp, Inc is a holding company, which engages in the provision of financial solutions. It offers loans, deposit products, and retail and commercial banking services. The company was founded on May 1, 2003 and is headquartered in Bayonne, NJ.