Bridge Bancorp, Inc. (BDGE) Set to Announce Quarterly Earnings on Wednesday
Bridge Bancorp, Inc. (NASDAQ:BDGE) is scheduled to be issuing its quarterly earnings data on Wednesday, October 25th. Analysts expect the company to announce earnings of $0.51 per share for the quarter.
Bridge Bancorp (NASDAQ:BDGE) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.04). The company had revenue of $35.30 million during the quarter, compared to analysts’ expectations of $36.10 million. Bridge Bancorp had a return on equity of 8.82% and a net margin of 22.91%. On average, analysts expect Bridge Bancorp to post $1.92 EPS for the current fiscal year and $2.20 EPS for the next fiscal year.
Bridge Bancorp, Inc. (NASDAQ:BDGE) opened at 34.15 on Wednesday. The stock has a market cap of $661.62 million, a PE ratio of 17.87 and a beta of 0.78. Bridge Bancorp, Inc. has a 52 week low of $26.90 and a 52 week high of $38.95. The company has a 50-day moving average price of $32.48 and a 200-day moving average price of $33.30.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 20th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Thursday, October 19th. Bridge Bancorp’s dividend payout ratio is currently 47.92%.
BDGE has been the topic of a number of research analyst reports. Zacks Investment Research raised Bridge Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. ValuEngine upgraded Bridge Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. Keefe, Bruyette & Woods restated a “hold” rating and issued 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 given a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $38.50.
In other news, Director Dennis A. Suskind sold 1,000 shares of Bridge Bancorp stock in a transaction on Monday, July 31st. The stock was sold at an average price of $32.50, for a total value of $32,500.00. Following the transaction, the director now owns 79,550 shares in the company, valued at approximately $2,585,375. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.30% of the stock is owned by insiders.
Bridge Bancorp Company Profile
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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