Bridge Bancorp, Inc. (BDGE) to Release Earnings on Wednesday
Bridge Bancorp, Inc. (NASDAQ:BDGE) is scheduled to post its quarterly earnings results on Wednesday, July 26th. Analysts expect Bridge Bancorp to post earnings of $0.49 per share for the quarter.
Bridge Bancorp (NASDAQ:BDGE) last posted its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. The firm had revenue of $34.58 million for the quarter, compared to analysts’ expectations of $34.80 million. Bridge Bancorp had a return on equity of 9.33% and a net margin of 23.17%. On average, analysts expect Bridge Bancorp to post $2.01 EPS for the current fiscal year and $2.28 EPS for the next fiscal year.
Bridge Bancorp, Inc. (NASDAQ:BDGE) opened at 33.40 on Wednesday. Bridge Bancorp, Inc. has a 12-month low of $26.90 and a 12-month high of $38.95. The company has a market capitalization of $646.76 million, a PE ratio of 16.92 and a beta of 0.80. The firm’s 50 day moving average price is $33.49 and its 200-day moving average price is $34.94.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 21st will be given a $0.23 dividend. The ex-dividend date is Wednesday, July 19th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.75%. Bridge Bancorp’s dividend payout ratio is currently 46.70%.
A number of equities research analysts have recently weighed in on BDGE shares. Zacks Investment Research lowered Bridge Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, March 29th. BidaskClub lowered Bridge Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $37.00 price objective on shares of Bridge Bancorp in a research report on Wednesday, April 5th.
In other news, Director Dennis A. Suskind sold 1,000 shares of Bridge Bancorp stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $34.46, for a total value of $34,460.00. Following the sale, the director now directly owns 82,550 shares in the company, valued at approximately $2,844,673. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Basswood Capital Management, L sold 133,878 shares of Bridge Bancorp stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $33.67, for a total value of $4,507,672.26. The disclosure for this sale can be found here. Over the last quarter, insiders bought 113,234 shares of company stock worth $3,815,829 and sold 383,443 shares worth $12,973,570. 5.30% of the stock is currently owned by company insiders.
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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