BCBP

Analyst Rating Update: Keefe Bruyette analyst Christopher O’Connell has reduced the price target for BCB Bancorp (BCBP) from $15 to $13.75 while maintaining a Market Perform rating on the shares.

Recent Performance: BCB Bancorp recently reported lower Q4 earnings and declared a dividend, with EPS dropping to 16 cents compared to 35 cents last year.

New Board Member Announcement: BCB Bancorp, Inc. has elected Michael J. Widmer to its Board of Directors, bringing over 40 years of banking experience, including roles at Northfield Bank and Liberty Bank.

Company Overview: BCB Community Bank, a subsidiary of BCB Bancorp, operates 23 branches in New Jersey and offers a variety of banking services to businesses and individuals.

Exchange Offer Extension: BCB Bancorp, Inc. has extended its exchange offer for up to $40 million of its outstanding subordinated notes, now set to expire on December 5, 2024, with 97.5% of the old notes already tendered as of December 3, 2024.

Company Overview: BCB Bancorp, Inc., established in 2003, is the holding company for BCB Community Bank, which operates multiple branches across New Jersey and New York, providing a range of banking services to businesses and individuals.

Earnings Performance: BCB Bancorp reported quarterly earnings of $0.36 per share, exceeding estimates and showing a 12.50% surprise, although down from $0.39 per share a year ago; revenues were $26.17 million, slightly above expectations but lower than the previous year's $27.09 million.

Future Outlook: The stock has underperformed compared to the S&P 500 this year, but current favorable earnings estimate revisions suggest a Zacks Rank #2 (Buy), indicating potential for future outperformance in the market.

Private Placement Announcement: BCB Bancorp, Inc. completed a private placement of $40 million in fixed-to-floating rate subordinated notes due 2034, with an initial fixed rate of 9.250%, intended for refinancing existing debt and enhancing regulatory capital.

Management's Statement: CEO Michael Shriner expressed satisfaction with the successful offering, emphasizing its alignment with the company's long-term capital management strategy and commitment to increasing shareholder value without diluting shares.

Analyst Rating and Market Performance: KBW analyst Christopher O’Connell assigned a Hold rating to BCB Bancorp with a price target of $12.00, while the stock closed at $12.22. The company has a market cap of $207.2M and a P/E ratio of 10.22.

Insider Activity and Company Overview: Recent insider activity shows positive sentiment towards BCBP, with an increase in insiders buying shares. BCB Bancorp operates as a holding company for BCB Community Bank, offering various loan and deposit products since its founding in 2003.

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• Insider Monkey's stock screener identified 10 dividend-paying stocks with recent insider buying activity.
• Examples include C&F Financial Corp, Penns Woods Bancorp, Citizens & Northern Corporation, BCB Bancorp Inc, and Meridian Corp.

• Albertsons Companies, Inc. (ACI): Expected to report earnings of 52 cents per share.
• Smartsheet Inc. (SMAR): Announced a $150 million share repurchase program.
• Nucor Corporation (NUE): Analysts expect quarterly earnings at $3.65 per share.
• BCB Bancorp, Inc. (BCBP): Reported downbeat earnings for the first quarter.
• Zions Bancorporation, National Association (ZION): Expected to post quarterly earnings at 98 cents per share.

• Albertsons shares rose 0.5% in after-hours trading.
• Smartsheet shares fell 1.7% to close at $36.80.
• Nucor shares fell 0.01% in after-hours trading.
• BCB Bancorp shares fell 0.2% in the after-hours trading session.
• Zions Bancorporation shares fell 0.6% in after-hours trading.

• Albertsons will release earnings before the opening bell.
• Nucor will release earnings after the markets close.
• Zions Bancorporation will release earnings before the opening bell.

• Check out premarket coverage.
• Jim Cramer advises not to sell McKesson and is positive about a Pharma stock catching fire.

BCB Bancorp Earnings Report:

• Quarterly earnings of $0.32 per share, missing estimates.
• Represents an earnings surprise of -11.11%.
• Revenues for the quarter missed estimates by 6.02%.
• Stock's immediate price movement depends on management's commentary.
• Shares have lost about 25.9% since the beginning of the year.

Outlook for BCB Bancorp:

• Uncertain future performance.
• Earnings estimate revisions trend is mixed.
• Current Zacks Rank #3 (Hold) suggests in line performance with the market.
• Consensus EPS estimate for coming quarter and fiscal year provided.
• Industry outlook can impact stock performance.

Valley National Bancorp Earnings Expectations:

• Expected quarterly earnings of $0.20 per share, a decrease from the previous year.
• Revenues expected to be down 8.8% from the year-ago quarter.
• Consensus EPS estimate revised lower over the last 30 days.

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