Bridge Bancorp Inc. (BDGE) Shares Down 2.6%
Shares of Bridge Bancorp Inc. (NASDAQ:BDGE) dropped 2.6% on Friday . The stock traded as low as $29.02 and last traded at $29.11, with a volume of 100,571 shares traded. The stock had previously closed at $29.90.
BDGE has been the topic of several recent research reports. Keefe, Bruyette & Woods initiated coverage on Bridge Bancorp in a research note on Thursday, April 14th. They issued a “market perform” rating and a $33.00 price target on the stock. FIG Partners downgraded Bridge Bancorp from an “outperform” rating to a “market perform” rating in a research note on Friday, April 29th. Finally, Zacks Investment Research downgraded Bridge Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, May 3rd.
The firm has a market cap of $508.20 million and a price-to-earnings ratio of 15.39. The company’s 50 day moving average is $29.07 and its 200 day moving average is $29.17.
Bridge Bancorp (NASDAQ:BDGE) last announced its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. Analysts anticipate that Bridge Bancorp Inc. will post $2.07 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 22nd were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, July 20th. This represents a $0.92 dividend on an annualized basis and a yield of 3.16%.
In other Bridge Bancorp news, Director Marcia Hefter bought 1,500 shares of the firm’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 of the company’s stock, valued at approximately $1,297,634.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dennis A. Suskind sold 1,000 shares of the business’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $30.55, for a total transaction of $30,550.00. Following the transaction, the director now owns 89,373 shares of the company’s stock, valued at $2,730,345.15. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Bridge Bancorp stock. Victory Capital Management Inc. raised its position in shares of Bridge Bancorp Inc. (NASDAQ:BDGE) by 16.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,471 shares of the financial services provider’s stock after buying an additional 4,785 shares during the period. Victory Capital Management Inc. owned about 0.20% of Bridge Bancorp worth $1,049,000 as of its most recent SEC filing.
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.
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