BidaskClub downgraded shares of Bridge Bancorp (NASDAQ:BDGE) from a buy rating to a hold rating in a report released on Tuesday.
NASDAQ:BDGE opened at $36.20 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $713.48 million, a PE ratio of 19.59 and a beta of 0.71. Bridge Bancorp has a one year low of $29.80 and a one year high of $38.00.
Bridge Bancorp (NASDAQ:BDGE) last posted its quarterly earnings data on Wednesday, April 25th. The financial services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.59 by $0.02. The firm had revenue of $38.65 million during the quarter. Bridge Bancorp had a return on equity of 8.33% and a net margin of 13.47%.
In related news, major shareholder Basswood Capital Management, L acquired 118,070 shares of Bridge Bancorp stock in a transaction dated Thursday, May 3rd. The stock was purchased at an average cost of $33.31 per share, for a total transaction of $3,932,911.70. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders bought a total of 183,720 shares of company stock valued at $6,086,868 over the last 90 days. 13.80% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. increased its stake in Bridge Bancorp by 7.3% in the 4th quarter. Victory Capital Management Inc. now owns 38,080 shares of the financial services provider’s stock worth $1,333,000 after buying an additional 2,580 shares in the last quarter. Citadel Advisors LLC purchased a new stake in Bridge Bancorp in the 4th quarter worth $376,000. Schwab Charles Investment Management Inc. increased its stake in Bridge Bancorp by 4.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 83,857 shares of the financial services provider’s stock worth $2,935,000 after buying an additional 3,588 shares in the last quarter. Alpine Woods Capital Investors LLC purchased a new stake in Bridge Bancorp in the 1st quarter worth $272,000. Finally, MetLife Investment Advisors LLC purchased a new stake in Bridge Bancorp in the 4th quarter worth $310,000. Institutional investors and hedge funds own 57.97% of the company’s stock.
About Bridge Bancorp
Bridge Bancorp, Inc operates as the bank holding company for the BNB Bank that provide commercial and consumer banking products and services to small businesses, and municipal and consumer relationships. It accepts time, savings, and demand deposits. The company offers commercial real estate, multi-family mortgage, residential mortgage, secured and unsecured commercial and consumer, home equity, and construction loans; and mortgage-backed securities, collateralized mortgage obligations, and other asset backed securities.
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