Bridge Bancorp, Inc. (BDGE) to Issue Quarterly Dividend of $0.23
Bridge Bancorp, Inc. (NASDAQ:BDGE) declared a quarterly dividend on Friday, October 5th, Zacks reports. Investors of record on Friday, October 19th will be paid a dividend of 0.23 per share by the financial services provider on Friday, October 26th. This represents a $0.92 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, October 18th.
Bridge Bancorp has a dividend payout ratio of 43.8% meaning its dividend is sufficiently covered by earnings.
Shares of NASDAQ:BDGE opened at $30.70 on Friday. Bridge Bancorp has a 52-week low of $30.25 and a 52-week high of $38.00. The firm has a market capitalization of $656.87 million, a P/E ratio of 19.19 and a beta of 0.79. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.86.
In other news, insider Kevin Santacroce sold 4,000 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $35.00, for a total transaction of $140,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Emanuel Arturi sold 5,000 shares of the stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $35.77, for a total transaction of $178,850.00. Following the sale, the director now owns 63,085 shares of the company’s stock, valued at $2,256,550.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 155,872 shares of company stock valued at $5,444,001 and have sold 31,008 shares valued at $1,095,537. Corporate insiders own 13.80% of the company’s stock.
BDGE has been the subject of several analyst reports. BidaskClub lowered shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, August 8th. Hovde Group upped their price target on shares of Bridge Bancorp from $37.00 to $38.00 and gave the company a “market perform” rating in a research report on Thursday, July 26th. Finally, TheStreet lowered shares of Bridge Bancorp from a “b” rating to a “c+” rating in a research report on Thursday, August 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Bridge Bancorp presently has a consensus rating of “Hold” and a consensus target price of $39.17.
About Bridge Bancorp
Bridge Bancorp, Inc operates as the bank holding company for the BNB Bank that provide commercial and consumer banking products and services to small businesses, and municipal and consumer relationships. It accepts time, savings, and demand deposits. The company offers commercial real estate, multi-family mortgage, residential mortgage, secured and unsecured commercial and consumer, home equity, and construction loans; and mortgage-backed securities, collateralized mortgage obligations, and other asset backed securities.
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