Bridge Bancorp (BDGE) Upgraded to “Sell” at BidaskClub

BidaskClub upgraded shares of Bridge Bancorp (NASDAQ:BDGE) from a strong sell rating to a sell rating in a research note published on Saturday morning.

A number of other equities research analysts have also issued reports on the stock. ValuEngine lowered shares of Bridge Bancorp from a buy rating to a hold rating in a research note on Saturday, January 13th. Sandler O’Neill set a $41.00 target price on shares of Bridge Bancorp and gave the company a buy rating in a research note on Wednesday, January 3rd. Keefe, Bruyette & Woods reissued a hold rating and set a $40.50 target price on shares of Bridge Bancorp in a research note on Friday, December 22nd. Zacks Investment Research lowered shares of Bridge Bancorp from a hold rating to a sell rating in a research note on Wednesday, January 31st. Finally, FIG Partners reissued a market-perform rating on shares of Bridge Bancorp in a research note on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $39.75.

Shares of Bridge Bancorp (BDGE) opened at $34.35 on Friday. The stock has a market cap of $677.04, a price-to-earnings ratio of 18.08 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 company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92.

Bridge Bancorp (NASDAQ:BDGE) last issued its earnings results on Monday, January 29th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.21). The company had revenue of $38.06 million for the quarter, compared to analyst estimates of $37.40 million. Bridge Bancorp had a net margin of 12.23% and a return on equity of 7.65%. equities research analysts expect that Bridge Bancorp will post 2.1 earnings per share for the current fiscal year.

The business 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date was Friday, January 19th. Bridge Bancorp’s dividend payout ratio (DPR) is currently 48.42%.

In other Bridge Bancorp news, major shareholder Basswood Capital Management, L acquired 109,633 shares of Bridge Bancorp stock in a transaction that occurred on Thursday, November 30th. The stock was acquired at an average price of $36.09 per share, with a total value of $3,956,654.97. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jr. Albert E. Mccoy acquired 6,200 shares of Bridge Bancorp stock in a transaction that occurred on Tuesday, February 6th. The stock was acquired at an average cost of $33.46 per share, with a total value of $207,452.00. Following the purchase, 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. Insiders have acquired a total of 154,437 shares of company stock valued at $5,471,241 in the last three months. Company insiders own 5.30% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its stake in shares of Bridge Bancorp by 61.1% in the 3rd quarter. SG Americas Securities LLC now owns 5,057 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 1,917 shares during the last quarter. Aperio Group LLC acquired a new stake in shares of Bridge Bancorp in the 3rd quarter valued at $241,000. GSA Capital Partners LLP acquired a new stake in shares of Bridge Bancorp in the 3rd quarter valued at $258,000. Fisher Asset Management LLC acquired a new stake in shares of Bridge Bancorp in the 4th quarter valued at $282,000. Finally, MetLife Investment Advisors LLC acquired a new stake in shares of Bridge Bancorp in the 4th quarter valued at $310,000. 56.55% of the stock is owned by institutional investors and hedge funds.

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About Bridge Bancorp

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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