Bridge Bancorp, Inc. (NASDAQ:BDGE) – Stock analysts at Piper Sandler reduced their Q2 2020 EPS estimates for shares of Bridge Bancorp in a research note issued to investors on Monday, March 23rd. Piper Sandler analyst A. Twerdahl now forecasts that the financial services provider will post earnings of $0.58 per share for the quarter, down from their previous forecast of $0.68. Piper Sandler also issued estimates for Bridge Bancorp’s Q3 2020 earnings at $0.65 EPS, Q4 2020 earnings at $0.67 EPS, FY2020 earnings at $2.50 EPS, Q1 2021 earnings at $0.60 EPS, Q2 2021 earnings at $0.62 EPS, Q3 2021 earnings at $0.63 EPS, Q4 2021 earnings at $0.68 EPS and FY2021 earnings at $2.53 EPS.
BDGE has been the subject of several other reports. BidaskClub downgraded shares of Bridge Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 15th. TheStreet downgraded shares of Bridge Bancorp from a “b-” rating to a “c+” rating in a report on Thursday, March 12th. ValuEngine raised shares of Bridge Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th. Finally, Zacks Investment Research downgraded shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $34.67.
BDGE opened at $21.06 on Wednesday. The company has a 50 day moving average of $26.79 and a 200 day moving average of $30.49. The company has a market cap of $407.97 million, a PE ratio of 8.13 and a beta of 1.14. Bridge Bancorp has a 12 month low of $18.10 and a 12 month high of $34.25. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.13.
Bridge Bancorp (NASDAQ:BDGE) last released its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.02. The company had revenue of $44.07 million during the quarter, compared to the consensus estimate of $43.20 million. Bridge Bancorp had a net margin of 24.84% and a return on equity of 10.69%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its holdings in Bridge Bancorp by 37.6% in the 4th quarter. Renaissance Technologies LLC now owns 386,300 shares of the financial services provider’s stock valued at $12,953,000 after purchasing an additional 105,500 shares during the period. Lord Abbett & CO. LLC bought a new position in Bridge Bancorp in the 4th quarter valued at $2,145,000. Hotchkis & Wiley Capital Management LLC boosted its holdings in Bridge Bancorp by 64.7% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 161,400 shares of the financial services provider’s stock valued at $5,412,000 after purchasing an additional 63,420 shares during the period. AJO LP boosted its holdings in Bridge Bancorp by 37.0% in the 4th quarter. AJO LP now owns 153,167 shares of the financial services provider’s stock valued at $5,135,000 after purchasing an additional 41,363 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Bridge Bancorp by 22.2% in the 4th quarter. Bank of New York Mellon Corp now owns 137,598 shares of the financial services provider’s stock valued at $4,614,000 after purchasing an additional 24,992 shares during the period. 58.76% of the stock is owned by institutional investors.
Bridge Bancorp Company Profile
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 and land loans; and mortgage-backed securities, collateralized mortgage obligations, and other asset backed securities.
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