ValuEngine Lowers Bridge Bancorp (BDGE) to Hold

ValuEngine downgraded shares of Bridge Bancorp (NASDAQ:BDGE) from a buy rating to a hold rating in a research note issued to investors on Saturday, January 13th.

A number of other research analysts have also recently commented on BDGE. FIG Partners reaffirmed a market-perform rating on shares of Bridge Bancorp in a research note on Thursday, October 26th. Zacks Investment Research raised Bridge Bancorp from a sell rating to a hold rating in a research note on Tuesday, September 26th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $40.50 target price on shares of Bridge Bancorp in a research note on Friday, December 22nd. Finally, Sandler O’Neill set a $41.00 target price on Bridge Bancorp and gave the company a buy rating in a research note on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $40.75.

Shares of Bridge Bancorp (NASDAQ:BDGE) traded up $0.43 during midday trading on Friday, reaching $36.30. The company’s stock had a trading volume of 40,790 shares, compared to its average volume of 33,216. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Bridge Bancorp has a 52 week low of $29.80 and a 52 week high of $37.95. The company has a market capitalization of $715.47, a PE ratio of 19.11 and a beta of 0.71.

Bridge Bancorp (NASDAQ:BDGE) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.03). Bridge Bancorp had a return on equity of 8.52% and a net margin of 22.62%. The company had revenue of $37.32 million for the quarter, compared to the consensus estimate of $36.50 million. equities analysts predict that Bridge Bancorp will post 1.89 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Monday, January 22nd will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, January 19th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.53%. Bridge Bancorp’s payout ratio is 48.42%.

In other news, major shareholder Basswood Capital Management, L purchased 3,862 shares of the stock in a transaction that occurred on Friday, December 22nd. The stock was purchased at an average price of $35.61 per share, for a total transaction of $137,525.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 117,357 shares of company stock valued at $4,231,707 in the last quarter. 5.30% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of BDGE. Dimensional Fund Advisors LP lifted its holdings in Bridge Bancorp by 16.7% during the second quarter. Dimensional Fund Advisors LP now owns 362,651 shares of the financial services provider’s stock worth $12,077,000 after buying an additional 51,831 shares during the period. State Street Corp lifted its holdings in Bridge Bancorp by 9.4% during the second quarter. State Street Corp now owns 338,852 shares of the financial services provider’s stock worth $11,289,000 after buying an additional 29,132 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Bridge Bancorp by 42.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 64,825 shares of the financial services provider’s stock worth $2,201,000 after buying an additional 19,286 shares during the period. Franklin Resources Inc. purchased a new stake in Bridge Bancorp during the second quarter worth $396,000. Finally, Moors & Cabot Inc. purchased a new stake in Bridge Bancorp during the second quarter worth $345,000. Institutional investors own 56.79% of the company’s stock.

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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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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