Bridge Bancorp Inc. (BDGE) Sees Strong Trading Volume
Bridge Bancorp Inc. (NASDAQ:BDGE) shares saw unusually-high trading volume on Monday . Approximately 61,532 shares were traded during mid-day trading, a decline of 7% from the previous session’s volume of 65,823 shares.The stock last traded at $30.05 and had previously closed at $30.09.
BDGE has been the subject of a number of analyst reports. FIG Partners downgraded shares of Bridge Bancorp from an “outperform” rating to a “market perform” rating in a research report on Friday, April 29th. Zacks Investment Research downgraded shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, May 3rd. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Bridge Bancorp in a research report on Thursday, April 14th. They issued a “market perform” rating and a $33.00 price objective for the company.
The stock has a market capitalization of $514.20 million and a price-to-earnings ratio of 19.54. The firm has a 50-day moving average price of $29.18 and a 200 day moving average price of $29.14.
Bridge Bancorp (NASDAQ:BDGE) last posted its earnings results on Wednesday, April 27th. The financial services provider reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.01. Analysts expect that Bridge Bancorp Inc. will post $2.12 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 22nd will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Wednesday, July 20th.
In related news, Director Dennis A. Suskind sold 1,000 shares of the stock in a transaction on Monday, June 6th. The shares were sold at an average price of $30.55, for a total value of $30,550.00. Following the transaction, the director now directly owns 89,373 shares of the company’s stock, valued at approximately $2,730,345.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Marcia Hefter bought 1,500 shares of the company’s stock in a transaction that occurred on Friday, June 24th. The stock was bought at an average cost of $27.95 per share, for a total transaction of $41,925.00. Following the completion of the transaction, the director now directly owns 46,427 shares in the company, valued at $1,297,634.65. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in Bridge Bancorp stock. Dimensional Fund Advisors LP increased its position in shares of Bridge Bancorp Inc. (NASDAQ:BDGE) by 17.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 157,869 shares of the financial services provider’s stock after buying an additional 23,027 shares during the period. Dimensional Fund Advisors LP owned 0.91% of Bridge Bancorp worth $4,804,000 as of its most recent filing with the SEC.
Bridge Bancorp, Inc is a bank holding company for The Bridgehampton National Bank (the Bank). The Bank engages in commercial and consumer banking business, including accepting time, savings and demand deposits from the consumers, businesses and local municipalities surrounding its branch offices. These deposits, together with funds generated from operations and borrowings, are invested primarily in commercial real estate loans; multi-family mortgage loans; home equity loans; construction loans; residential mortgage loans; secured and unsecured commercial and consumer loans; Federal Home Loan Bank (FHLB), Federal National Mortgage Association (FNMA), Government National Mortgage Association (GNMA) and Federal Home Loan Mortgage Corporation (FHLMC) and non-agency mortgage-backed securities, collateralized mortgage obligations and other asset backed securities; New York State and local municipal obligations, and the United States government sponsored entity (U.S.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.