Bridge Bancorp, Inc. (BDGE) Receives Consensus Rating of “Hold” from Brokerages

Bridge Bancorp, Inc. (NASDAQ:BDGE) has received a consensus recommendation of “Hold” from the six research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $40.75.

A number of research firms have recently issued reports on BDGE. FIG Partners reaffirmed a “market-perform” rating on shares of Bridge Bancorp in a report on Thursday, October 26th. Zacks Investment Research downgraded shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. BidaskClub downgraded shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a report on Friday, January 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $40.50 price objective on shares of Bridge Bancorp in a report on Friday, December 22nd. Finally, ValuEngine downgraded shares of Bridge Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, January 13th.

Bridge Bancorp (NASDAQ BDGE) opened at $32.95 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. Bridge Bancorp has a fifty-two week low of $29.80 and a fifty-two week high of $37.95. The company has a market cap of $649.44, a price-to-earnings ratio of 17.34 and a beta of 0.68.

Bridge Bancorp (NASDAQ:BDGE) last announced its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.21). Bridge Bancorp had a net margin of 12.23% and a return on equity of 7.65%. The firm had revenue of $38.06 million during the quarter, compared to the consensus estimate of $37.40 million. equities research analysts anticipate that Bridge Bancorp will post 2.1 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Monday, January 22nd were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend was Friday, January 19th. Bridge Bancorp’s dividend payout ratio is currently 48.42%.

In other Bridge Bancorp news, major shareholder Basswood Capital Management, L bought 109,633 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were bought at an average price of $36.09 per share, for a total transaction of $3,956,654.97. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jr. Albert E. Mccoy bought 6,200 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was acquired at an average price of $33.46 per share, for a total transaction of $207,452.00. Following the transaction, the director now owns 107,990 shares in the company, valued at $3,613,345.40. The disclosure for this purchase can be found here. Insiders have bought a total of 123,557 shares of company stock valued at $4,439,159 over the last ninety days. 5.30% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the stock. Victory Capital Management Inc. raised its position 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 purchasing an additional 2,580 shares during the period. Fisher Asset Management LLC purchased a new position in Bridge Bancorp in the 4th quarter worth $282,000. Schwab Charles Investment Management Inc. raised its position 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 purchasing an additional 3,588 shares during the period. GSA Capital Partners LLP purchased a new position in Bridge Bancorp in the 3rd quarter worth $258,000. Finally, Dimensional Fund Advisors LP raised its position in Bridge Bancorp by 12.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 408,778 shares of the financial services provider’s stock worth $13,878,000 after purchasing an additional 46,127 shares during the period. Institutional investors own 56.80% of the company’s stock.

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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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