Sandler O’Neill Analysts Give Bridge Bancorp (BDGE) a $39.00 Price Target
Sandler O’Neill set a $39.00 target price on Bridge Bancorp (NASDAQ:BDGE) in a research note issued to investors on Thursday morning. The brokerage currently has a buy rating on the financial services provider’s stock.
Other equities research analysts have also issued research reports about the stock. ValuEngine lowered shares of Bridge Bancorp from a buy rating to a hold rating in a report on Saturday, January 13th. Keefe, Bruyette & Woods reissued a hold rating and issued a $40.50 price target on shares of Bridge Bancorp in a report on Friday, December 22nd. FIG Partners reissued a market-perform rating on shares of Bridge Bancorp in a report on Thursday, October 26th. Zacks Investment Research lowered shares of Bridge Bancorp from a hold rating to a sell rating in a report on Wednesday, January 31st. Finally, BidaskClub cut shares of Bridge Bancorp from a hold rating to a sell rating in a research note on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Bridge Bancorp has a consensus rating of Hold and a consensus price target of $39.75.
Bridge Bancorp (NASDAQ BDGE) traded up $0.10 during trading hours on Thursday, hitting $32.35. 8,149 shares of the stock traded hands, compared to its average volume of 39,111. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $649.44, a price-to-earnings ratio of 30.71 and a beta of 0.68. Bridge Bancorp has a 52-week low of $29.80 and a 52-week high of $37.95.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Monday, January 22nd were paid a dividend of $0.23 per share. The ex-dividend date was Friday, January 19th. This represents a $0.92 annualized dividend and a yield of 2.84%. Bridge Bancorp’s dividend payout ratio (DPR) is presently 87.62%.
In other news, major shareholder Basswood Capital Management, L purchased 109,633 shares of the stock in a transaction dated Thursday, November 30th. The shares were purchased at an average price of $36.09 per share, with a total value of $3,956,654.97. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jr. Albert E. Mccoy purchased 6,200 shares of the stock in a transaction dated Tuesday, February 6th. The shares were purchased at an average cost of $33.46 per share, for a total transaction of $207,452.00. Following the transaction, the director now owns 107,990 shares in the company, valued at approximately $3,613,345.40. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 123,557 shares of company stock worth $4,439,159. 5.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in Bridge Bancorp by 16.7% in the second quarter. Dimensional Fund Advisors LP now owns 362,651 shares of the financial services provider’s stock valued at $12,077,000 after buying an additional 51,831 shares during the last quarter. State Street Corp increased its stake in shares of Bridge Bancorp by 9.4% during the second quarter. State Street Corp now owns 338,852 shares of the financial services provider’s stock worth $11,289,000 after buying an additional 29,132 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Bridge Bancorp by 42.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 64,825 shares of the financial services provider’s stock worth $2,201,000 after buying an additional 19,286 shares during the period. Moors & Cabot Inc. purchased a new stake in shares of Bridge Bancorp during the second quarter worth approximately $345,000. Finally, Nationwide Fund Advisors increased its stake in Bridge Bancorp by 83.0% in the third quarter. Nationwide Fund Advisors now owns 22,045 shares of the financial services provider’s stock valued at $748,000 after purchasing an additional 9,996 shares during the last quarter. 56.80% of the stock is currently owned by hedge funds and other institutional investors.
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Bridge Bancorp Company Profile
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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