BCB Bancorp, Inc. to Issue Quarterly Dividend of $0.16 (NASDAQ:BCBP)

BCB Bancorp, Inc. (NASDAQ:BCBP) declared a quarterly dividend on Wednesday, July 17th, Wall Street Journal reports. Shareholders of record on Friday, August 2nd will be given a dividend of 0.16 per share by the bank on Friday, August 16th. This represents a $0.64 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend is Friday, August 2nd.

BCB Bancorp has increased its dividend payment by an average of 4.6% annually over the last three years. BCB Bancorp has a payout ratio of 41.6% meaning its dividend is sufficiently covered by earnings. Analysts expect BCB Bancorp to earn $1.53 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 41.8%.

BCB Bancorp Price Performance

BCBP stock opened at $12.68 on Thursday. The stock has a market capitalization of $215.05 million, a price-to-earnings ratio of 8.13 and a beta of 0.58. The stock’s fifty day simple moving average is $10.70 and its 200-day simple moving average is $10.72. BCB Bancorp has a 52-week low of $9.19 and a 52-week high of $13.90. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.75.

Analysts Set New Price Targets

BCBP has been the subject of several recent analyst reports. Piper Sandler lifted their price target on BCB Bancorp from $11.50 to $14.00 and gave the company a “neutral” rating in a report on Monday. 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 research report on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, BCB Bancorp currently has an average rating of “Hold” and a consensus target price of $13.50.

Insider Buying and Selling

In other BCB Bancorp news, Director Mark D. Hogan acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was bought at an average cost of $9.90 per share, for a total transaction of $49,500.00. Following the completion of the purchase, the director now directly owns 88,352 shares in the company, valued at $874,684.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Mark D. Hogan bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were acquired at an average cost of $9.90 per share, for a total transaction of $49,500.00. Following the acquisition, the director now owns 88,352 shares in the company, valued at approximately $874,684.80. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Tara L. French purchased 2,500 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average cost of $10.70 per share, with a total value of $26,750.00. Following the completion of the acquisition, the director now owns 2,500 shares in the company, valued at approximately $26,750. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 17,422 shares of company stock valued at $176,676. 15.86% of the stock is currently owned by corporate insiders.

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.