Bridge Bancorp, Inc. (NASDAQ:BDGE) Given Hold Rating at Keefe, Bruyette & Woods
Bridge Bancorp, Inc. (NASDAQ:BDGE)‘s stock had its “hold” rating reissued by research analysts at Keefe, Bruyette & Woods in a report issued on Thursday. They presently have a $37.00 target price on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 17.09% from the company’s current price.
A number of other equities analysts have also weighed in on BDGE. BidaskClub lowered Bridge Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Zacks Investment Research lowered Bridge Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, July 28th.
Bridge Bancorp (NASDAQ:BDGE) opened at 31.60 on Thursday. The firm’s 50-day moving average is $32.99 and its 200 day moving average is $34.58. The firm has a market cap of $620.81 million, a P/E ratio of 16.70 and a beta of 0.80. Bridge Bancorp has a 12-month low of $26.90 and a 12-month high of $38.95.
Bridge Bancorp (NASDAQ:BDGE) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.04. Bridge Bancorp had a return on equity of 9.02% and a net margin of 22.91%. The business had revenue of $35.30 million during the quarter, compared to analysts’ expectations of $36.10 million. Equities analysts forecast that Bridge Bancorp will post $1.92 earnings per share for the current year.
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In other Bridge Bancorp news, insider Kevin Santacroce sold 2,166 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $35.00, for a total transaction of $75,810.00. Following the completion of the sale, the insider now directly owns 47,534 shares in the company, valued at approximately $1,663,690. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Raymond A. Nielsen purchased 4,195 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were purchased at an average price of $34.51 per share, with a total value of $144,769.45. Following the completion of the purchase, the director now owns 17,179 shares in the company, valued at $592,847.29. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 113,234 shares of company stock valued at $3,815,829 and have sold 377,398 shares valued at $12,758,975. Insiders own 5.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in Bridge Bancorp during the second quarter worth about $105,000. AQR Capital Management LLC purchased a new stake in Bridge Bancorp during the fourth quarter worth about $356,000. Strategic Advisors LLC increased its stake in Bridge Bancorp by 6.4% in the first quarter. Strategic Advisors LLC now owns 9,891 shares of the financial services provider’s stock worth $346,000 after buying an additional 592 shares in the last quarter. American International Group Inc. increased its stake in Bridge Bancorp by 7.7% in the first quarter. American International Group Inc. now owns 10,359 shares of the financial services provider’s stock worth $363,000 after buying an additional 743 shares in the last quarter. Finally, Barings LLC purchased a new stake in Bridge Bancorp during the first quarter worth about $413,000. Institutional investors and hedge funds own 55.94% of the company’s stock.
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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