FY2016 EPS Estimates for Bridge Bancorp Inc. (BDGE) Reduced by Analyst
Bridge Bancorp Inc. (NASDAQ:BDGE) – Stock analysts at FIG Partners lowered their FY2016 earnings per share (EPS) estimates for Bridge Bancorp in a research note issued to investors on Tuesday. FIG Partners analyst D. Bishop now anticipates that the brokerage will post earnings of $1.99 per share for the year, down from their prior estimate of $2.02. FIG Partners also issued estimates for Bridge Bancorp’s Q4 2016 earnings at $0.50 EPS, Q1 2017 earnings at $0.48 EPS, Q2 2017 earnings at $0.50 EPS, Q3 2017 earnings at $0.52 EPS, Q4 2017 earnings at $0.54 EPS, FY2017 earnings at $2.05 EPS, Q1 2018 earnings at $0.53 EPS, Q2 2018 earnings at $0.54 EPS, Q3 2018 earnings at $0.56 EPS and FY2018 earnings at $2.20 EPS.
Other research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Bridge Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, September 28th. Keefe, Bruyette & Woods decreased their price target on shares of Bridge Bancorp from $30.00 to $28.00 and set a “market perform” rating for the company in a report on Thursday, August 25th.
Shares of Bridge Bancorp (NASDAQ:BDGE) opened at 32.90 on Wednesday. Bridge Bancorp has a 52-week low of $26.23 and a 52-week high of $33.10. The stock’s 50 day moving average price is $28.91 and its 200-day moving average price is $29.27. The stock has a market cap of $564.83 million, a price-to-earnings ratio of 16.79 and a beta of 0.74.
A number of hedge funds and other institutional investors have recently bought and sold shares of BDGE. SG Americas Securities LLC purchased a new position in Bridge Bancorp during the third quarter worth about $112,000. BlackRock Group LTD increased its stake in Bridge Bancorp by 6.7% in the third quarter. BlackRock Group LTD now owns 3,992 shares of the financial services provider’s stock worth $114,000 after buying an additional 252 shares during the period. BlackRock Inc. increased its stake in Bridge Bancorp by 326.5% in the second quarter. BlackRock Inc. now owns 4,431 shares of the financial services provider’s stock worth $125,000 after buying an additional 3,392 shares during the period. BlackRock Advisors LLC increased its stake in Bridge Bancorp by 11.2% in the second quarter. BlackRock Advisors LLC now owns 7,551 shares of the financial services provider’s stock worth $214,000 after buying an additional 759 shares during the period. Finally, Strategic Advisors LLC increased its stake in Bridge Bancorp by 0.5% in the second quarter. Strategic Advisors LLC now owns 8,491 shares of the financial services provider’s stock worth $241,000 after buying an additional 41 shares during the period. 50.56% of the stock is owned by hedge funds and other institutional investors.
In other news, major shareholder Basswood Partners, L.L.C. bought 585,465 shares of Bridge Bancorp stock in a transaction on Tuesday, November 22nd. The stock was purchased at an average cost of $31.00 per share, with a total value of $18,149,415.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dennis A. Suskind sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $29.37, for a total transaction of $58,740.00. Following the transaction, the director now directly owns 87,973 shares of the company’s stock, valued at $2,583,767.01. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by insiders.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Friday, October 21st were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Wednesday, October 19th. Bridge Bancorp’s dividend payout ratio (DPR) is presently 47.18%.
Bridge Bancorp Company Profile
Bridge Bancorp, Inc is a bank holding company for The Bridgehampton National Bank (the Bank). The Bank engages in commercial and consumer banking business, including accepting time, savings and demand deposits from the consumers, businesses and local municipalities surrounding its branch offices. These deposits, together with funds generated from operations and borrowings, are invested primarily in commercial real estate loans; multi-family mortgage loans; home equity loans; construction loans; residential mortgage loans; secured and unsecured commercial and consumer loans; Federal Home Loan Bank (FHLB), Federal National Mortgage Association (FNMA), Government National Mortgage Association (GNMA) and Federal Home Loan Mortgage Corporation (FHLMC) and non-agency mortgage-backed securities, collateralized mortgage obligations and other asset backed securities; New York State and local municipal obligations, and the United States government sponsored entity (U.S.
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