Bridge Bancorp (BDGE) Stock Rating Lowered by BidaskClub

Bridge Bancorp (NASDAQ:BDGE) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Friday.

Other analysts also recently issued reports about the stock. Sandler O’Neill set a $39.00 price target on shares of Bridge Bancorp and gave the company a “buy” rating in a report on Thursday, February 8th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $40.50 price target on shares of Bridge Bancorp in a report on Friday, December 22nd. ValuEngine downgraded shares of Bridge Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, January 13th. Finally, Zacks Investment Research downgraded shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, February 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $39.75.

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Shares of BDGE stock traded up $0.15 on Friday, hitting $32.15. 9,709 shares of the stock traded hands, compared to its average volume of 41,976. The company has a market capitalization of $634.95, a price-to-earnings ratio of 18.88 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 1.35, a current ratio of 0.94 and a quick ratio of 0.94.

Bridge Bancorp (NASDAQ:BDGE) last announced its quarterly earnings data on Monday, January 29th. The financial services provider reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.21). The firm had revenue of $38.06 million for the quarter, compared to the consensus estimate of $37.40 million. Bridge Bancorp had a net margin of 12.23% and a return on equity of 7.68%.

In other Bridge Bancorp news, major shareholder Basswood Capital Management, L bought 27,290 shares of Bridge Bancorp stock in a transaction dated Thursday, February 15th. The shares were purchased at an average cost of $33.52 per share, for a total transaction of $914,760.80. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jr. Albert E. Mccoy bought 6,200 shares of Bridge Bancorp stock in a transaction dated Tuesday, February 6th. The stock was acquired at an average price of $33.46 per share, for a total transaction of $207,452.00. Following the completion of the acquisition, the director now owns 107,990 shares in the company, valued at $3,613,345.40. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 46,913 shares of company stock worth $1,585,459. 13.80% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of BDGE. BlackRock Inc. increased its holdings in shares of Bridge Bancorp by 4.5% in the 4th quarter. BlackRock Inc. now owns 1,072,211 shares of the financial services provider’s stock worth $37,527,000 after buying an additional 46,173 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Bridge Bancorp by 12.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 408,778 shares of the financial services provider’s stock worth $13,878,000 after buying an additional 46,127 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Bridge Bancorp in the 4th quarter worth about $376,000. Nationwide Fund Advisors increased its holdings in shares of Bridge Bancorp by 83.0% in the 3rd quarter. Nationwide Fund Advisors now owns 22,045 shares of the financial services provider’s stock worth $748,000 after buying an additional 9,996 shares during the last quarter. Finally, MetLife Investment Advisors LLC bought a new stake in shares of Bridge Bancorp in the 4th quarter worth about $310,000. Hedge funds and other institutional investors own 56.37% of the company’s stock.

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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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