Shares of Bridge Bancorp, Inc. (NASDAQ:BDGE) have been given an average rating of “Hold” by the seven analysts that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $39.17.
Several research analysts have commented on the stock. BidaskClub downgraded shares of Bridge Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, October 4th. ValuEngine downgraded shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th.
BDGE opened at $27.46 on Wednesday. Bridge Bancorp has a 52 week low of $26.87 and a 52 week high of $38.00. The stock has a market cap of $546.66 million, a price-to-earnings ratio of 14.16 and a beta of 0.80. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.78.
Bridge Bancorp (NASDAQ:BDGE) last released its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.53 by $0.17. Bridge Bancorp had a net margin of 10.46% and a return on equity of 8.87%. The business had revenue of $39.13 million during the quarter.
In other Bridge Bancorp news, insider Basswood Capital Management, L purchased 49,891 shares of the stock in a transaction that occurred on Tuesday, September 11th. The stock was purchased at an average price of $35.75 per share, with a total value of $1,783,603.25. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Emanuel Arturi sold 3,482 shares of the stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $35.36, for a total transaction of $123,123.52. Following the completion of the transaction, the director now directly owns 37,703 shares of the company’s stock, valued at approximately $1,333,178.08. The disclosure for this sale can be found here. Insiders have acquired a total of 135,426 shares of company stock valued at $4,656,257 in the last three months. Insiders own 13.80% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Prudential Financial Inc. lifted its holdings in shares of Bridge Bancorp by 15.6% in the 3rd quarter. Prudential Financial Inc. now owns 18,780 shares of the financial services provider’s stock valued at $623,000 after acquiring an additional 2,540 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Bridge Bancorp by 11.3% in the 2nd quarter. Swiss National Bank now owns 30,600 shares of the financial services provider’s stock valued at $1,100,000 after acquiring an additional 3,100 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Bridge Bancorp by 4.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 97,230 shares of the financial services provider’s stock valued at $3,496,000 after acquiring an additional 4,281 shares during the last quarter. Alpine Woods Capital Investors LLC lifted its holdings in shares of Bridge Bancorp by 55.5% in the 3rd quarter. Alpine Woods Capital Investors LLC now owns 12,613 shares of the financial services provider’s stock valued at $419,000 after acquiring an additional 4,500 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its holdings in shares of Bridge Bancorp by 44.7% in the 3rd quarter. GSA Capital Partners LLP now owns 15,630 shares of the financial services provider’s stock valued at $519,000 after acquiring an additional 4,832 shares during the last quarter. 58.31% of the stock is owned by hedge funds and other 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 loans; and mortgage-backed securities, collateralized mortgage obligations, and other asset backed securities.
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