Separately, Zacks Investment Research lowered Bridge Bancorp from a hold rating to a sell rating in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. Bridge Bancorp currently has an average rating of Hold and a consensus price target of $32.50.
Shares of BDGE stock opened at $30.12 on Thursday. The firm has a market cap of $590.95 million, a P/E ratio of 11.32 and a beta of 1.11. Bridge Bancorp has a fifty-two week low of $24.12 and a fifty-two week high of $35.45. The business’s 50 day moving average price is $27.69 and its 200-day moving average price is $29.36. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.93 and a current ratio of 0.93.
Bridge Bancorp (NASDAQ:BDGE) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.14). The business had revenue of $41.02 million during the quarter, compared to the consensus estimate of $41.20 million. Bridge Bancorp had a return on equity of 11.24% and a net margin of 22.25%. As a group, equities analysts predict that Bridge Bancorp will post 2.52 EPS for the current year.
In other news, major shareholder Nathan Lindenbaum bought 3,875 shares of the stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $27.16 per share, for a total transaction of $105,245.00. Following the purchase, the insider now directly owns 10,015 shares in the company, valued at approximately $272,007.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kevin Santacroce sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $29.33, for a total value of $43,995.00. Following the completion of the transaction, the insider now owns 39,198 shares of the company’s stock, valued at approximately $1,149,677.34. The disclosure for this sale can be found here. 15.50% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new position in shares of Bridge Bancorp in the 2nd quarter valued at approximately $41,000. BNP Paribas Arbitrage SA lifted its stake in shares of Bridge Bancorp by 446.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,467 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 2,832 shares during the period. State Board of Administration of Florida Retirement System purchased a new position in shares of Bridge Bancorp in the 1st quarter valued at approximately $219,000. Moors & Cabot Inc. purchased a new position in shares of Bridge Bancorp in the 1st quarter valued at approximately $314,000. Finally, Municipal Employees Retirement System of Michigan purchased a new position in shares of Bridge Bancorp in the 2nd quarter valued at approximately $403,000. Institutional investors own 58.56% of the company’s stock.
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 and land loans; and mortgage-backed securities, collateralized mortgage obligations, and other asset backed securities.
Featured Article: What is meant by a buy rating?
Receive News & Ratings for Bridge Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bridge Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.