Bridge Bancorp (NASDAQ:BDGE) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Saturday.
A number of other equities analysts have also commented on BDGE. FIG Partners reiterated a “market-perform” rating on shares of Bridge Bancorp in a research note on Thursday, October 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $40.50 price objective on shares of Bridge Bancorp in a research note on Friday, December 22nd. Sandler O’Neill set a $41.00 price target on Bridge Bancorp and gave the company a “buy” rating in a research note on Wednesday, January 3rd. ValuEngine lowered Bridge Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th. Finally, Zacks Investment Research lowered Bridge Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $39.75.
Bridge Bancorp (BDGE) opened at $34.35 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $677.04, a PE ratio of 32.71 and a beta of 0.68. Bridge Bancorp has a 12 month low of $29.80 and a 12 month high of $37.95.
Bridge Bancorp (NASDAQ:BDGE) last posted its quarterly earnings data on Monday, January 29th. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.21). The business had revenue of $38.06 million during the quarter, compared to the consensus estimate of $37.40 million. Bridge Bancorp had a return on equity of 7.65% and a net margin of 12.23%. research analysts predict that Bridge Bancorp will post 2.1 EPS for the current fiscal year.
In other news, Director Jr. Albert E. Mccoy purchased 6,200 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were purchased at an average cost of $33.46 per share, for a total transaction of $207,452.00. Following the completion of the purchase, the director now directly owns 107,990 shares of the company’s stock, valued at approximately $3,613,345.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Basswood Capital Management, L purchased 109,633 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were purchased at an average price of $36.09 per share, for a total transaction of $3,956,654.97. The disclosure for this purchase can be found here. Insiders have purchased 154,437 shares of company stock worth $5,471,241 over the last 90 days. Corporate insiders own 5.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in shares of Bridge Bancorp by 61.1% in the 3rd quarter. SG Americas Securities LLC now owns 5,057 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 1,917 shares during the period. Aperio Group LLC bought a new stake in shares of Bridge Bancorp in the 3rd quarter valued at approximately $241,000. GSA Capital Partners LLP bought a new stake in shares of Bridge Bancorp in the 3rd quarter valued at approximately $258,000. Fisher Asset Management LLC bought a new stake in shares of Bridge Bancorp in the 4th quarter valued at approximately $282,000. Finally, MetLife Investment Advisors LLC bought a new stake in shares of Bridge Bancorp in the 4th quarter valued at approximately $310,000. Institutional investors own 56.58% 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).
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