Bridge Bancorp Inc. (BDGE) Sees Unusually-High Trading Volume
Bridge Bancorp Inc. (NASDAQ:BDGE) shares saw strong trading volume on Monday . 61,532 shares changed hands during 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.
Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Bridge Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, June 29th. FIG Partners lowered shares of Bridge Bancorp from an “outperform” rating to a “market perform” rating in a research report on Friday, April 29th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Bridge Bancorp in a research report on Thursday, April 14th. They set a “market perform” rating and a $33.00 target price on the stock.
The firm has a 50-day moving average of $29.15 and a 200 day moving average of $29.14. The company has a market capitalization of $514.71 million and a P/E ratio of 19.56.
Bridge Bancorp (NASDAQ:BDGE) last announced its earnings results on Wednesday, April 27th. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.50 by $0.01. On average, equities research analysts predict that Bridge Bancorp Inc. will post $2.12 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, July 22nd will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, July 20th. This represents a $0.92 annualized dividend and a dividend yield of 3.06%.
In related news, Director Dennis A. Suskind sold 1,000 shares of the firm’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $30.42, for a total value of $30,420.00. Following the completion of the transaction, the director now directly owns 87,607 shares of the company’s stock, valued at $2,665,004.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Marcia Hefter bought 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 24th. The stock was purchased at an average cost of $27.95 per share, with a total value of $41,925.00. Following the completion of the purchase, the director now directly owns 46,427 shares of the company’s stock, valued at approximately $1,297,634.65. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in Bridge Bancorp stock. Victory Capital Management Inc. boosted its position in 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 institutional investor 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 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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