Bridge Bancorp (NASDAQ:BDGE) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Thursday, BidAskClub reports.

A number of other equities analysts have also recently issued reports on BDGE. ValuEngine cut Bridge Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, August 3rd. Zacks Investment Research cut Bridge Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday. Three analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. The company has an average rating of “Sell” and a consensus target price of $27.50.

NASDAQ:BDGE opened at $19.73 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.00 and a quick ratio of 1.00. The business’s 50-day simple moving average is $19.93 and its 200-day simple moving average is $20.58. Bridge Bancorp has a fifty-two week low of $17.17 and a fifty-two week high of $34.25. The stock has a market capitalization of $389.57 million, a PE ratio of 8.15 and a beta of 1.10.

Bridge Bancorp (NASDAQ:BDGE) last announced its earnings results on Tuesday, July 28th. The financial services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. The firm had revenue of $42.68 million for the quarter, compared to the consensus estimate of $42.95 million. Bridge Bancorp had a net margin of 23.52% and a return on equity of 9.66%. On average, research analysts expect that Bridge Bancorp will post 2.59 earnings per share for the current year.

In other Bridge Bancorp news, Director Daniel Rubin bought 4,971 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The stock was acquired at an average price of $20.68 per share, with a total value of $102,800.28. Following the completion of the transaction, the director now owns 31,309 shares in the company, valued at $647,470.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 6,000 shares of company stock valued at $121,381 in the last 90 days. 16.50% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Bridge Bancorp by 3.1% during the first quarter. BlackRock Inc. now owns 1,223,288 shares of the financial services provider’s stock valued at $25,884,000 after purchasing an additional 36,517 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Bridge Bancorp by 5.5% in the 2nd quarter. Vanguard Group Inc. now owns 884,712 shares of the financial services provider’s stock valued at $20,206,000 after buying an additional 46,193 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Bridge Bancorp by 8.0% in the first quarter. Geode Capital Management LLC now owns 273,876 shares of the financial services provider’s stock valued at $5,795,000 after buying an additional 20,310 shares in the last quarter. Boston Trust Walden Corp grew its stake in shares of Bridge Bancorp by 9.1% in the second quarter. Boston Trust Walden Corp now owns 209,184 shares of the financial services provider’s stock valued at $4,777,000 after buying an additional 17,423 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Bridge Bancorp by 7.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 118,130 shares of the financial services provider’s stock worth $2,699,000 after buying an additional 8,307 shares during the last quarter. Institutional investors and hedge funds own 57.62% 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.

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