BCBP - We Still Like BCB Bancorp

2024-01-25 13:51:33 ET

Summary

• BCB Bancorp, Inc.'s Q4 earnings show relatively in-line metrics with the sector and a big discount in shares, making it an attractive investment.
• Margins have been under pressure, but we see them near a bottom and expect a widening of margins in 2024.
• Loans are growing and deposits have increased, while BCB Bancorp maintains tightened lending standards and solid asset quality.

Our coverage Q4 regional bank earnings resumes with BCB Bancorp, Inc. ( BCBP ). This is a stock we laid out for a trade at our investing service, and also covered publicly in October . Shares are up about 20% even with today's pullback. We thought the key metrics were relatively in line with the sector, while there was a massive discount in shares, bucking the trend of many regionals. Even with the rally, a discount persists....

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