Shares of Bridge Bancorp, Inc. (NASDAQ:BDGE) have received a consensus broker rating score of 3.00 (Hold) from the three brokers that cover the company, Zacks Investment Research reports. Three analysts have rated the stock with a hold rating.
Brokers have set a one year consensus target price of $33.58 for the company and are expecting that the company will post $0.50 EPS for the current quarter, according to Zacks. Zacks has also given Bridge Bancorp an industry rank of 36 out of 265 based on the ratings given to related companies.
Several research analysts have recently weighed in on the company. Zacks Investment Research cut Bridge Bancorp from a “hold” rating to a “strong sell” rating in a research report on Monday, October 31st. Hovde Group assumed coverage on Bridge Bancorp in a research report on Friday, January 6th. They set a “market perform” rating and a $40.00 price objective for the company.
In related news, Director Dennis A. Suskind sold 1,000 shares of the stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $27.55, for a total transaction of $27,550.00. Following the completion of the transaction, the director now directly owns 86,373 shares of the company’s stock, valued at $2,379,576.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jr. Albert E. Mccoy purchased 5,000 shares of Bridge Bancorp stock in a transaction that occurred on Wednesday, November 2nd. The shares were bought at an average cost of $27.29 per share, with a total value of $136,450.00. Following the completion of the transaction, the director now directly owns 88,672 shares of the company’s stock, valued at approximately $2,419,858.88. The disclosure for this purchase can be found here. Corporate insiders own 6.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Monarch Partners Asset Management LLC boosted its position in shares of Bridge Bancorp by 23.2% in the second quarter. Monarch Partners Asset Management LLC now owns 17,552 shares of the financial services provider’s stock valued at $498,000 after buying an additional 3,300 shares during the period. Bank of New York Mellon Corp raised its stake in Bridge Bancorp by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 77,793 shares of the financial services provider’s stock valued at $2,209,000 after buying an additional 5,751 shares in the last quarter. California State Teachers Retirement System raised its stake in Bridge Bancorp by 11.3% in the second quarter. California State Teachers Retirement System now owns 35,067 shares of the financial services provider’s stock valued at $996,000 after buying an additional 3,567 shares in the last quarter. First Trust Advisors LP raised its stake in Bridge Bancorp by 1.3% in the second quarter. First Trust Advisors LP now owns 22,377 shares of the financial services provider’s stock valued at $636,000 after buying an additional 278 shares in the last quarter. Finally, Swiss National Bank raised its stake in Bridge Bancorp by 7.5% in the second quarter. Swiss National Bank now owns 25,900 shares of the financial services provider’s stock valued at $736,000 after buying an additional 1,800 shares in the last quarter. 46.56% of the stock is owned by hedge funds and other institutional investors.
Bridge Bancorp (NASDAQ:BDGE) opened at 35.90 on Monday. Bridge Bancorp has a 12 month low of $26.33 and a 12 month high of $38.95. The company has a market capitalization of $616.33 million, a P/E ratio of 18.33 and a beta of 0.85. The firm has a 50-day moving average price of $36.88 and a 200 day moving average price of $31.16.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Monday, January 23rd will be given a dividend of $0.23 per share. The ex-dividend date is Thursday, January 19th. This represents a $0.92 annualized dividend and a yield of 2.56%. Bridge Bancorp’s dividend payout ratio (DPR) is presently 47.18%.
About Bridge Bancorp
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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