Bridge Bancorp (BDGE) Upgraded by BidaskClub to “Sell”
BidaskClub upgraded shares of Bridge Bancorp (NASDAQ:BDGE) from a strong sell rating to a sell rating in a research report sent to investors on Wednesday.
BDGE has been the subject of several other reports. TheStreet raised Bridge Bancorp from a c+ rating to a b- rating in a report on Thursday, February 14th. ValuEngine lowered Bridge Bancorp from a hold rating to a sell rating in a report on Friday, March 22nd.
BDGE stock opened at $29.17 on Wednesday. The company has a market capitalization of $578.31 million, a PE ratio of 12.40 and a beta of 1.06. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.91 and a quick ratio of 0.91. Bridge Bancorp has a 12-month low of $24.12 and a 12-month high of $38.00.
In other Bridge Bancorp news, Director Basswood Capital Management, L sold 11,692 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $31.41, for a total transaction of $367,245.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 209,692 shares of company stock valued at $5,976,447. 13.80% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the business. Citigroup Inc. raised its position in Bridge Bancorp by 13.6% during the fourth quarter. Citigroup Inc. now owns 5,111 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 613 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in Bridge Bancorp by 352.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,239 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 4,860 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Bridge Bancorp during the fourth quarter valued at about $180,000. Franklin Resources Inc. bought a new position in shares of Bridge Bancorp during the third quarter valued at about $270,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Bridge Bancorp during the fourth quarter valued at about $402,000. Hedge funds and other institutional investors own 57.77% of the company’s stock.
About Bridge Bancorp
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 loans; and mortgage-backed securities, collateralized mortgage obligations, and other asset backed securities.
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