BUZZ-BCB Bancorp slides after suspending cash dividend

BCB Bancorp, Inc.

BCB Bancorp, Inc.

BCBP

0.00

** BCB Bancorp's BCBP.O shares slump as much as 11.6%; last down 6.2% at $10.38

** The community lender late Thursday announced suspension of quarterly cash dividends as it looks to preserve capital

** BCBP had previously said it would make a deep-dive evaluation of credit portfolios, which is expected to take some time

** "During that period, we will be focused on capital preservation and eliminating our quarterly dividend will conserve approximately $1.86 million of capital per quarter" - CEO Thomas M O'Brien

** One of three brokerages rates the stock "buy" and two "hold"; median PT $11 - data compiled by LSEG

** As of last close, BCBP stock up 37.1% YTD


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