Bridge Bancorp, Inc. (NASDAQ:BDGE) Given Hold Rating at Keefe, Bruyette & Woods
Bridge Bancorp, Inc. (NASDAQ:BDGE)‘s stock had its “hold” rating reiterated by investment analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Thursday. They presently have a $37.00 price target on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 17.09% from the stock’s current price.
Several other research analysts have also recently issued reports on the company. BidaskClub cut Bridge Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Zacks Investment Research cut Bridge Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, July 28th.
Shares of Bridge Bancorp (BDGE) opened at 31.60 on Thursday. The firm’s 50 day moving average price is $32.99 and its 200-day moving average price is $34.58. The company has a market capitalization of $620.81 million, a P/E ratio of 16.70 and a beta of 0.80. Bridge Bancorp has a 1-year low of $26.90 and a 1-year high of $38.95.
Bridge Bancorp (NASDAQ:BDGE) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $35.30 million during the quarter, compared to analysts’ expectations of $36.10 million. Analysts expect that Bridge Bancorp will post $1.92 EPS for the current year.
In related news, insider Kevin Santacroce sold 2,166 shares of Bridge Bancorp stock in a transaction that occurred on 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 transaction, the insider now directly owns 47,534 shares in the company, valued at $1,663,690. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dennis A. Suskind sold 2,000 shares of Bridge Bancorp stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $33.92, for a total value of $67,840.00. Following the transaction, the director now owns 81,800 shares of the company’s stock, valued at $2,774,656. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 113,234 shares of company stock valued at $3,815,829 and have sold 377,398 shares valued at $12,758,975. 5.30% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Bridge Bancorp by 14.1% in the first quarter. Vanguard Group Inc. now owns 782,814 shares of the financial services provider’s stock valued at $27,399,000 after buying an additional 97,006 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Bridge Bancorp by 22.3% in the first quarter. Dimensional Fund Advisors LP now owns 310,820 shares of the financial services provider’s stock valued at $10,879,000 after buying an additional 56,723 shares in the last quarter. State Street Corp boosted its position in shares of Bridge Bancorp by 20.4% in the fourth quarter. State Street Corp now owns 304,800 shares of the financial services provider’s stock valued at $11,551,000 after buying an additional 51,688 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Bridge Bancorp by 29.2% in the first quarter. Renaissance Technologies LLC now owns 184,900 shares of the financial services provider’s stock valued at $6,472,000 after buying an additional 41,800 shares in the last quarter. Finally, BTIM Corp. bought a new position in shares of Bridge Bancorp during the second quarter valued at $5,987,000. Institutional investors own 55.94% of the company’s stock.
About Bridge Bancorp
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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