Bridge Bancorp, Inc. (BDGE) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Bridge Bancorp, Inc. (NASDAQ:BDGE) released its quarterly earnings results on Wednesday. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.03), Bloomberg Earnings reports. The firm had revenue of $37.32 million for the quarter, compared to analyst estimates of $36.50 million. Bridge Bancorp had a return on equity of 8.61% and a net margin of 22.62%.

Bridge Bancorp (NASDAQ BDGE) opened at 35.40 on Friday. The firm has a market cap of $685.84 million, a P/E ratio of 18.52 and a beta of 0.79. Bridge Bancorp has a 52 week low of $26.90 and a 52 week high of $38.95. The company has a 50-day moving average of $33.23 and a 200 day moving average of $33.32.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 20th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Thursday, October 19th. Bridge Bancorp’s payout ratio is 48.42%.

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BDGE has been the subject of several research reports. Zacks Investment Research raised Bridge Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. ValuEngine raised Bridge Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $37.00 price target on shares of Bridge Bancorp in a research note on Thursday, August 10th. Finally, BidaskClub downgraded Bridge Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $38.50.

In other news, Director Dennis A. Suskind sold 1,000 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $32.50, for a total transaction of $32,500.00. Following the completion of the sale, the director now directly owns 79,550 shares of the company’s stock, valued at $2,585,375. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 5.30% of the company’s stock.

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).

Earnings History for Bridge Bancorp (NASDAQ:BDGE)

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