Price Action to Note: Could BSB Bancorp Inc Change Direction After Touching 52-Week High?

Price Action to Note: Could BSB Bancorp Inc Change Direction After Touching 52 Week High?

The stock of BSB Bancorp Inc (NASDAQ:BLMT) hit a new 52-week high and has $62.84 target or 145.00% above today’s $25.65 share price. The 6 months bullish chart indicates low risk for the $232.52 million company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $62.84 price target is reached, the company will be worth $337.15M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 27,563 shares traded hands or 232.36% up from the average. BSB Bancorp Inc (NASDAQ:BLMT) has risen 13.75% since April 7, 2016 and is uptrending. It has outperformed by 8.97% the S&P500.

According to Zacks Investment Research, “BSB Bancorp, Inc. is a financial services company engaged in providing loan, deposit and other banking products primarily in Broome, Chenango, Onondaga and Tioga Counties of New York State. It originates real estate mortgages, consumer loans and commercial business loans. BSB Bancorp, Inc. is based in Belmont, Massachusetts.”

Insitutional Activity: The institutional sentiment decreased to 1.43 in 2016 Q2. Its down 0.14, from 1.57 in 2016Q1. The ratio is negative, as 1 funds sold all BSB Bancorp Inc shares owned while 13 reduced positions. 3 funds bought stakes while 17 increased positions. They now own 4.29 million shares or 0.01% more from 4.29 million shares in 2016Q1.
Moreover, Tiaa Cref Inv Ltd Company has 0% invested in BSB Bancorp Inc (NASDAQ:BLMT) for 25,559 shares. Moreover, Spark Invest Mgmt Limited Liability Corporation has 0.03% invested in BSB Bancorp Inc (NASDAQ:BLMT) for 12,200 shares. California Public Employees Retirement Systems last reported 0% of its portfolio in the stock. Parametric Portfolio Assocs Ltd Company, a Washington-based fund reported 8,918 shares. Morgan Stanley owns 4,621 shares or 0% of their US portfolio. Endeavour Cap Advsr holds 230,689 shares or 0.39% of its portfolio. Cornerstone Mgmt Lc accumulated 0% or 2,357 shares. Blackrock Fund Advisors accumulated 218,645 shares or 0% of the stock. Teachers Advsr, a New York-based fund reported 11,955 shares. Moreover, Deutsche Bancorp Ag has 0% invested in BSB Bancorp Inc (NASDAQ:BLMT) for 4,960 shares. Stieven Cap Lp has invested 1.45% of its portfolio in BSB Bancorp Inc (NASDAQ:BLMT). Bridgeway Capital has invested 0.02% of its portfolio in BSB Bancorp Inc (NASDAQ:BLMT). Renaissance Technology Limited Liability reported 183,100 shares or 0.01% of all its holdings. Bnp Paribas Arbitrage Sa has 315 shares for 0% of their US portfolio. Wells Fargo & Mn last reported 0% of its portfolio in the stock.

More news for BSB Bancorp Inc (NASDAQ:BLMT) were recently published by: Prnewswire.com, which released: “BSB Bancorp, Inc. Reports Third Quarter Results – Year Over Year Earnings …” on October 20, 2016. Prnewswire.com‘s article titled: “BSB Bancorp, Inc. Reports Fourth Quarter Results – Year Over Year Earnings …” and published on February 11, 2016 is yet another important article.

BLMT Company Profile

BSB Bancorp, Inc. (BSB Bancorp), incorporated on June 2, 2011, is a bank holding firm 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 activities 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 (automobile loans assigned to it by automobile dealerships), commercial business loans, construction loans and investment securities. The Bank also makes other consumer loans and second mortgage loans. The Bank offers a range of deposit accounts, including relationship checking accounts for clients and businesses, passbook and statement savings accounts, certificates of deposit, money market accounts, Interest on Lawyer Trust Accounts (IOLTA), commercial, municipal and regular checking accounts, and Individual Retirement Accounts (IRAs). The Bank offers a range of commercial and retail banking services, which include cash management, online and mobile banking, and global payments and foreign exchange. The Bank conducts activities from over six full service branch offices located in Belmont, Watertown, Waltham, Newton and Cambridge in Southeast Middlesex County, Massachusetts. The Company’s primary lending market includes Essex, Middlesex, Norfolk and Suffolk Counties, Massachusetts.

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