BidaskClub cut shares of Bridge Bancorp, Inc. (NASDAQ:BDGE) from a sell rating to a strong sell rating in a report published on Monday.
Other analysts have also recently issued reports about the company. Zacks Investment Research raised Bridge Bancorp from a sell rating to a hold rating in a research report on Tuesday, June 27th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $37.00 price objective on shares of Bridge Bancorp in a research report on Wednesday, April 5th.
Shares of Bridge Bancorp (BDGE) traded down 0.31% on Monday, reaching $32.40. The company had a trading volume of 39,452 shares. The company’s 50-day moving average price is $33.25 and its 200 day moving average price is $34.67. The firm has a market capitalization of $636.53 million, a P/E ratio of 17.12 and a beta of 0.80. Bridge Bancorp has a 52 week low of $26.90 and a 52 week high of $38.95.
Bridge Bancorp (NASDAQ:BDGE) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by $0.04. Bridge Bancorp had a return on equity of 9.02% and a net margin of 22.91%. The company had revenue of $35.30 million for the quarter, compared to analyst estimates of $36.10 million. On average, analysts expect that Bridge Bancorp will post $1.98 EPS for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, July 21st were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date was Wednesday, July 19th. Bridge Bancorp’s dividend payout ratio (DPR) is 47.92%.
In other news, Director Dennis A. Suskind sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $32.00, for a total transaction of $48,000.00. Following the completion of the transaction, the director now directly owns 79,550 shares of the company’s stock, valued at approximately $2,545,600. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Raymond A. Nielsen bought 4,195 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The shares were acquired at an average cost of $34.51 per share, with a total value of $144,769.45. Following the completion of the purchase, the director now owns 17,179 shares in the company, valued at approximately $592,847.29. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 113,234 shares of company stock valued at $3,815,829 and have sold 379,443 shares valued at $12,833,310. Corporate insiders own 5.30% of the company’s stock.
Institutional investors have recently modified their holdings of the company. State Street Corp increased its position in shares of Bridge Bancorp by 20.4% in the fourth quarter. State Street Corp now owns 304,800 shares of the financial services provider’s stock worth $11,551,000 after buying an additional 51,688 shares during the period. Citadel Advisors LLC acquired a new position in shares of Bridge Bancorp during the first quarter worth about $817,000. Bank of New York Mellon Corp increased its position in shares of 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 during the period. Wells Fargo & Company MN increased its position in shares of Bridge Bancorp by 7.4% in the first quarter. Wells Fargo & Company MN now owns 45,184 shares of the financial services provider’s stock worth $1,582,000 after buying an additional 3,101 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of Bridge Bancorp by 2.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 12,742 shares of the financial services provider’s stock worth $483,000 after buying an additional 251 shares during the period. 55.85% of the stock is owned by institutional investors and hedge funds.
About Bridge Bancorp
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).
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