BCB Bancorp price target lowered to $13 from $14 at Piper Sandler

Piper Sandler lowered the firm’s price target on BCB Bancorp (BCBP) to $13 from $14 and keeps a Neutral rating on the shares following Q4 results. The firm notes 2024 was a challenging year for BCB as the bank worked through credit noise, while also slowing growth in an effort to replenish capital levels. Management expects some elevated charge-off content to continue, so Piper thinks BCB will need to work through this and also exhibit some stabilization/improvement in NPLs/classified balances before returning to business as usual.