Bridge Bancorp Inc. (BDGE) Sees Unusually-High Trading Volume
Bridge Bancorp Inc. (NASDAQ:BDGE) shares saw unusually-high trading volume on Monday . Approximately 62,734 shares changed hands during trading, a decline of 9% from the previous session’s volume of 68,893 shares.The stock last traded at $29.87 and had previously closed at $29.95.
BDGE has been the subject of several research analyst reports. Keefe, Bruyette & Woods initiated coverage on Bridge Bancorp in a research note on Thursday, April 14th. They set a “market perform” rating and a $33.00 target price for the company. Zacks Investment Research raised Bridge Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. Finally, FIG Partners downgraded Bridge Bancorp from an “outperform” rating to a “market perform” rating in a research note on Friday, April 29th.
The stock’s 50-day moving average is $29.13 and its 200-day moving average is $29.15. The stock has a market capitalization of $513.17 million and a P/E ratio of 19.50.
Bridge Bancorp (NASDAQ:BDGE) last posted its quarterly earnings results on Wednesday, April 27th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.01. On average, analysts expect that Bridge Bancorp Inc. will post $2.12 EPS for the current fiscal year.
The firm also recently disclosed 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 of this dividend is Wednesday, July 20th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.07%.
In other Bridge Bancorp news, major shareholder Basswood Capital Management, L sold 12,095 shares of Bridge Bancorp stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $29.17, for a total value of $352,811.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dennis A. Suskind sold 1,000 shares of Bridge Bancorp stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $30.42, for a total transaction of $30,420.00. Following the completion of the sale, the director now directly owns 87,607 shares of the company’s stock, valued at $2,665,004.94. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Bridge Bancorp stock. Victory Capital Management Inc. increased its stake 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 SEC. 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 at the end of the most recent quarter.
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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