Blake Ryan, the Chief Operating Officer of BCB Bancorp Inc. (NASDAQ:BCBP), recently sold 8,677 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The shares were sold at a price of $13.06 each, amounting to a total transaction value of $113,321. The transaction comes as BCB Bancorp's stock has shown strong momentum, posting a 37% gain over the past six months. According to InvestingPro analysis, the stock is currently trading near its Fair Value.
Following the sale, Ryan retains direct ownership of 39,362 shares. Additionally, he holds 5,732 shares indirectly through a 401(k) plan. The proceeds from this sale were used to meet federal and state income tax obligations related to a previously granted restricted stock award. Notably, BCB Bancorp has maintained dividend payments for 19 consecutive years, with a current dividend yield of 4.85%. InvestingPro subscribers have access to additional key metrics and insights about the company's financial health and future prospects.
In other recent news, BCB Bancorp Inc. has made several notable financial moves and adjustments. The company has amended its corporate charter to introduce a new series of preferred stock, Series K, adding 4,000 shares to its financial instruments. Furthermore, BCB Bancorp has fully redeemed its 5.625% Fixed-to-Floating Rate Subordinated Notes due in 2028, totaling $24.1 million.
In terms of analyst ratings, Keefe, Bruyette & Woods has increased BCB Bancorp's stock price target from $13.25 to $13.50, while DA Davidson has maintained a Neutral rating on the company's stock. Piper Sandler also raised BCB Bancorp's stock target from $11.50 to $14.00.
In addition, BCB Bancorp has completed a private placement of its Series J Noncumulative Perpetual Preferred Stock, raising $1.36 million. The company also appointed Raymond (NS:RYMD) J. Vanaria to its Board of Directors and as Chair of the Audit Committee, strengthening its governance and oversight capabilities. These are among the recent developments at BCB Bancorp.
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