Denison Mines announces $250 million convertible notes offering
Joseph Lyga, a director at BCB Bancorp Inc. (NASDAQ:BCBP), recently increased his stake in the company by purchasing additional shares. The timing is notable as the stock trades near its 52-week low of $7.54, having declined about 38% over the past six months. According to a recent SEC filing, Lyga acquired a total of 380 shares of BCB Bancorp’s common stock on June 13, 2025. The shares were bought at $7.70 each, amounting to $2,926. InvestingPro analysis suggests the stock is slightly undervalued at current levels.
The transaction details reveal that 280 shares were acquired indirectly through Lyga’s spouse, while an additional 100 shares were purchased indirectly by his child. Following these transactions, Lyga’s total direct and indirect ownership of BCB Bancorp common stock stands at 181,743 shares. The company maintains an impressive 8.31% dividend yield and has consistently paid dividends for 20 consecutive years.
In other recent news, BCB Bancorp reported a net loss of $8.3 million for the first quarter of 2025, a significant downturn from a net income of $5.9 million in the same period last year. This loss was largely due to a $13.7 million reserve for a cannabis sector loan and increased reserves for the discontinued Business Express Loan portfolio. Despite the financial loss, BCB Bancorp declared a quarterly cash dividend of $0.16 per share. In a strategic move to raise capital, the company issued 52 shares of Series K Noncumulative Perpetual Preferred Stock in a private placement, generating $520,000 in gross proceeds. Additionally, Keefe, Bruyette & Woods adjusted their price target for BCB Bancorp from $12.50 to $10.50, maintaining a Market Perform rating, citing recent financial results as a factor. The firm revised earnings estimates downward, reflecting the impact of elevated credit costs. At the 2025 Annual Meeting of Shareholders, five directors were elected, and the appointment of Wolf & Company, P.C. as the independent auditor was ratified. These developments highlight BCB Bancorp’s current financial challenges and efforts to navigate them.
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