Bridge Bancorp, Inc. (NASDAQ:BDGE) has earned a consensus recommendation of “Hold” from the six ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $38.50.
BDGE has been the topic of a number of recent analyst reports. FIG Partners reissued a “market-perform” rating on shares of Bridge Bancorp in a report on Thursday, October 26th. ValuEngine raised shares of Bridge Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. BidaskClub lowered shares of Bridge Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $37.00 target price on shares of Bridge Bancorp in a research note on Thursday, August 10th. Finally, Zacks Investment Research raised shares of Bridge Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th.
Shares of Bridge Bancorp (NASDAQ:BDGE) traded down $0.60 during trading on Tuesday, reaching $35.20. 18,293 shares of the company’s stock were exchanged, compared to its average volume of 24,652. The firm has a market cap of $693.69, a P/E ratio of 18.53 and a beta of 0.71. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.47.
Bridge Bancorp (NASDAQ:BDGE) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). The firm had revenue of $37.32 million during the quarter, compared to the consensus estimate of $36.50 million. Bridge Bancorp had a return on equity of 8.61% and a net margin of 22.62%. analysts anticipate that Bridge Bancorp will post 1.89 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, October 20th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date was Thursday, October 19th. Bridge Bancorp’s payout ratio is 48.42%.
Several institutional investors and hedge funds have recently made changes to their positions in BDGE. BTIM Corp. bought a new stake in shares of Bridge Bancorp during the 2nd quarter valued at about $5,987,000. Vanguard Group Inc. lifted its position in Bridge Bancorp by 14.1% during the 1st quarter. Vanguard Group Inc. now owns 782,814 shares of the financial services provider’s stock valued at $27,399,000 after acquiring an additional 97,006 shares during the period. Dimensional Fund Advisors LP lifted its position in Bridge Bancorp by 22.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 310,820 shares of the financial services provider’s stock valued at $10,879,000 after acquiring an additional 56,723 shares during the period. Renaissance Technologies LLC lifted its position in Bridge Bancorp by 29.2% during the 1st quarter. Renaissance Technologies LLC now owns 184,900 shares of the financial services provider’s stock valued at $6,472,000 after acquiring an additional 41,800 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new position in Bridge Bancorp during the 1st quarter valued at about $1,189,000. 55.64% of the stock is currently owned by hedge funds and other institutional investors.
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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