Bridge Bancorp (BDGE) Stock Rating Reaffirmed by Keefe, Bruyette & Woods

Bridge Bancorp (NASDAQ:BDGE)‘s stock had its “hold” rating reissued by equities researchers at Keefe, Bruyette & Woods in a research report issued on Friday. They currently have a $40.50 price target on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 13.60% from the company’s current price.

A number of other analysts have also issued reports on the stock. ValuEngine upgraded shares of Bridge Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, September 27th. Zacks Investment Research upgraded shares of Bridge Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, FIG Partners restated a “market-perform” rating on shares of Bridge Bancorp in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $40.25.

Shares of Bridge Bancorp (NASDAQ:BDGE) traded down $0.15 on Friday, hitting $35.65. 30,000 shares of the stock were exchanged, compared to its average volume of 47,681. 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 has a fifty-two week low of $29.80 and a fifty-two week high of $38.55. The stock has a market cap of $695.76, a PE ratio of 18.76 and a beta of 0.70.

Bridge Bancorp (NASDAQ:BDGE) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.03). Bridge Bancorp had a return on equity of 8.52% and a net margin of 22.62%. The business had revenue of $37.32 million for the quarter, compared to analysts’ expectations of $36.50 million. equities analysts expect that Bridge Bancorp will post 1.89 earnings per share for the current year.

In other 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 purchased at an average price of $36.09 per share, for a total transaction of $3,956,654.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.30% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in shares of 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 valued at $13,878,000 after purchasing an additional 46,127 shares during the last quarter. State Street Corp boosted its holdings in shares of Bridge Bancorp by 9.4% in the 2nd quarter. State Street Corp now owns 338,852 shares of the financial services provider’s stock valued at $11,289,000 after purchasing an additional 29,132 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Bridge Bancorp by 0.7% in the 2nd quarter. Northern Trust Corp now owns 225,325 shares of the financial services provider’s stock valued at $7,503,000 after purchasing an additional 1,494 shares during the last quarter. Kennedy Capital Management Inc. boosted its holdings in shares of Bridge Bancorp by 1.6% in the 2nd quarter. Kennedy Capital Management Inc. now owns 159,871 shares of the financial services provider’s stock valued at $5,324,000 after purchasing an additional 2,473 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Bridge Bancorp by 0.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 153,550 shares of the financial services provider’s stock valued at $5,113,000 after purchasing an additional 1,270 shares during the last quarter. Institutional investors own 56.79% of the company’s stock.

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Bridge Bancorp Company Profile

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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