Bridge Bancorp, Inc. (NASDAQ:BDGE) major shareholder Basswood Capital Management, L acquired 109,633 shares of Bridge Bancorp stock in a transaction on Thursday, November 30th. The shares were purchased at an average price of $36.09 per share, with a total value of $3,956,654.97. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Bridge Bancorp, Inc. (BDGE) traded down $0.15 during trading hours on Friday, reaching $35.80. 23,942 shares of the company’s stock were exchanged, compared to its average volume of 48,371. The company has a market cap of $716.46, a price-to-earnings ratio of 19.13 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92. Bridge Bancorp, Inc. has a 1-year low of $29.80 and a 1-year high of $38.95.
Bridge Bancorp (NASDAQ:BDGE) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Bridge Bancorp had a return on equity of 8.52% and a net margin of 22.62%. The company had revenue of $37.32 million during the quarter, compared to the consensus estimate of $36.50 million. sell-side analysts anticipate that Bridge Bancorp, Inc. will post 1.89 EPS for the current fiscal year.
A number of research firms have weighed in on BDGE. FIG Partners restated a “market-perform” rating on shares of Bridge Bancorp in a research note on Thursday, October 26th. ValuEngine upgraded shares of Bridge Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. Zacks Investment Research upgraded shares of Bridge Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $37.00 price objective on shares of Bridge Bancorp in a research note on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Bridge Bancorp currently has a consensus rating of “Hold” and an average price target of $38.50.
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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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