Bridge Bancorp (BDGE) Given “Hold” Rating at Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reiterated their hold rating on shares of Bridge Bancorp (NASDAQ:BDGE) in a research report sent to investors on Friday morning. Keefe, Bruyette & Woods currently has a $40.50 price target on the financial services provider’s stock.
Other analysts also recently issued reports about the company. FIG Partners restated a market-perform rating on shares of Bridge Bancorp in a research note on Thursday, October 26th. ValuEngine upgraded Bridge Bancorp from a hold rating to a buy rating in a research note on Wednesday, September 27th. Finally, Zacks Investment Research upgraded Bridge Bancorp from a sell rating to a hold rating in a research note on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Bridge Bancorp has an average rating of Hold and a consensus target price of $40.25.
Shares of Bridge Bancorp (NASDAQ BDGE) traded down $0.15 during mid-day trading on Friday, hitting $35.65. The company’s stock had a trading volume of 30,048 shares, compared to its average volume of 37,428. Bridge Bancorp has a one year low of $29.80 and a one year high of $38.55. The stock has a market cap of $705.62, a P/E ratio of 18.76 and a beta of 0.70. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.
Bridge Bancorp (NASDAQ:BDGE) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). Bridge Bancorp had a net margin of 22.62% and a return on equity of 8.52%. The company had revenue of $37.32 million during the quarter, compared to analysts’ expectations of $36.50 million. research analysts expect that Bridge Bancorp will post 1.89 EPS for the current year.
In other news, major shareholder Basswood Capital Management, L acquired 109,633 shares of Bridge Bancorp stock in a transaction that occurred on Thursday, November 30th. The stock was purchased at an average cost of $36.09 per share, with a total value of $3,956,654.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BDGE. SG Americas Securities LLC acquired a new position in shares of Bridge Bancorp in the second quarter worth $105,000. Aperio Group LLC acquired a new position in Bridge Bancorp in the third quarter valued at $241,000. GSA Capital Partners LLP acquired a new position in Bridge Bancorp in the third quarter valued at $258,000. Voya Investment Management LLC increased its stake in Bridge Bancorp by 14.7% in the second quarter. Voya Investment Management LLC now owns 9,766 shares of the financial services provider’s stock valued at $325,000 after purchasing an additional 1,255 shares during the last quarter. Finally, Strategic Advisors LLC increased its stake in Bridge Bancorp by 0.5% in the second quarter. Strategic Advisors LLC now owns 9,938 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 47 shares during the last quarter. 56.79% of the stock is owned by institutional investors.
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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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