BidaskClub lowered shares of Bridge Bancorp, Inc. (NASDAQ:BDGE) from a hold rating to a sell rating in a research report released on Wednesday.
A number of other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Bridge Bancorp from a buy rating to a hold rating in a research report on Wednesday, March 29th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $37.00 target price on shares of Bridge Bancorp in a research report on Wednesday, April 5th.
Shares of Bridge Bancorp (NASDAQ:BDGE) traded up 1.05% during midday trading on Wednesday, reaching $33.70. 11,934 shares of the company were exchanged. Bridge Bancorp has a 52-week low of $26.90 and a 52-week high of $38.95. The stock has a 50-day moving average price of $33.82 and a 200 day moving average price of $35.36. The company has a market capitalization of $652.57 million, a P/E ratio of 17.07 and a beta of 0.80.
Bridge Bancorp (NASDAQ:BDGE) last released its earnings results on Wednesday, April 26th. The financial services provider reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $34.58 million during the quarter, compared to the consensus estimate of $34.80 million. Bridge Bancorp had a net margin of 23.17% and a return on equity of 9.33%. Equities research analysts expect that Bridge Bancorp will post $2.01 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: “Bridge Bancorp, Inc. (BDGE) Cut to Sell at BidaskClub” was originally published by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The original version of this news story can be read at https://transcriptdaily.com/2017/07/17/bridge-bancorp-inc-bdge-cut-to-sell-at-bidaskclub.html.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 21st will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Wednesday, July 19th. Bridge Bancorp’s dividend payout ratio (DPR) is presently 46.70%.
In other news, Director Dennis A. Suskind sold 1,500 shares of Bridge Bancorp stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $32.00, for a total value of $48,000.00. Following the completion of the transaction, the director now owns 79,550 shares of the company’s stock, valued at approximately $2,545,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dennis A. Suskind sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $36.28, for a total transaction of $72,560.00. Following the sale, the director now owns 82,321 shares of the company’s stock, valued at approximately $2,986,605.88. The disclosure for this sale can be found here. In the last three months, insiders bought 113,234 shares of company stock valued at $3,815,829 and sold 383,443 shares valued at $12,973,570. Company insiders own 5.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. boosted its stake in Bridge Bancorp by 275.3% in the first quarter. Prudential Financial Inc. now owns 40,790 shares of the financial services provider’s stock worth $1,428,000 after buying an additional 29,920 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. bought a new stake in Bridge Bancorp during the first quarter worth about $1,174,000. TD Asset Management Inc. boosted its stake in Bridge Bancorp by 7.9% in the first quarter. TD Asset Management Inc. now owns 23,300 shares of the financial services provider’s stock worth $816,000 after buying an additional 1,700 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Bridge Bancorp by 9.2% in the first quarter. Bank of New York Mellon Corp now owns 124,013 shares of the financial services provider’s stock worth $4,341,000 after buying an additional 10,464 shares in the last quarter. Finally, Strategic Advisors LLC boosted its stake in Bridge Bancorp by 6.4% in the first quarter. Strategic Advisors LLC now owns 9,891 shares of the financial services provider’s stock worth $346,000 after buying an additional 592 shares in the last quarter. Institutional investors own 54.94% of the company’s stock.
Bridge Bancorp Company Profile
Bridge Bancorp, Inc is a bank holding company for The Bridgehampton National Bank (the Bank). The Bank’s operations include its real estate investment trust subsidiary, Bridgehampton Community, Inc (BCI), a financial title insurance subsidiary, Bridge Abstract LLC (Bridge Abstract), and an investment services subsidiary, Bridge Financial Services LLC (Bridge Financial Services).
Receive News & Ratings for Bridge Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bridge Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.