BidaskClub cut shares of BSB Bancorp, Inc. (NASDAQ:BLMT) from a sell rating to a strong sell rating in a research note issued to investors on Saturday morning.

Shares of BSB Bancorp (NASDAQ BLMT) opened at 28.95 on Friday. BSB Bancorp has a 52-week low of $22.51 and a 52-week high of $30.75. The company has a 50 day moving average of $29.38 and a 200 day moving average of $28.65. The firm has a market capitalization of $258.09 million, a PE ratio of 18.62 and a beta of 0.39.

BSB Bancorp (NASDAQ:BLMT) last issued its earnings results on Thursday, July 20th. The bank reported $0.43 earnings per share for the quarter. The company had revenue of $14.94 million for the quarter. BSB Bancorp had a return on equity of 8.81% and a net margin of 19.87%.

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In related news, COO Hal R. Tovin sold 17,715 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $29.20, for a total value of $517,278.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Carroll M. Lowenstein, Jr. sold 15,943 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $29.20, for a total value of $465,535.60. The disclosure for this sale can be found here. Insiders sold a total of 51,372 shares of company stock worth $1,500,240 in the last quarter. 13.17% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers purchased a new position in BSB Bancorp during the second quarter worth approximately $262,000. First Trust Advisors LP bought a new stake in shares of BSB Bancorp during the second quarter worth about $444,000. Schwab Charles Investment Management Inc. boosted its stake in shares of BSB Bancorp by 72.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 15,267 shares of the bank’s stock worth $447,000 after buying an additional 6,400 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of BSB Bancorp by 29.2% in the second quarter. Bank of New York Mellon Corp now owns 44,060 shares of the bank’s stock worth $1,289,000 after buying an additional 9,968 shares during the last quarter. Hedge funds and other institutional investors own 47.17% of the company’s stock.

BSB Bancorp Company Profile

BSB Bancorp, Inc (BSB Bancorp) is a bank holding company of Belmont Savings Bank (the Bank). The Company’s Belmont Savings Bank is a chartered savings bank. The Bank’s business consists primarily of accepting deposits from the general public, small businesses and municipalities, and investing those deposits, together with funds generated from operations and borrowings, in one- to four-family residential mortgage loans, commercial real estate loans, multi-family real estate loans, home equity lines of credit, indirect automobile loans, commercial business loans, construction loans and investment securities.

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