Bridge Bancorp, Inc. Declares Quarterly Dividend of $0.23 (BDGE)

Bridge Bancorp, Inc. (NASDAQ:BDGE) announced a quarterly dividend on Tuesday, January 8th, Wall Street Journal reports. Stockholders of record on Monday, January 21st will be given a dividend of 0.23 per share by the financial services provider on Monday, January 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Thursday, January 17th.

Bridge Bancorp has a dividend payout ratio of 43.8% indicating that its dividend is sufficiently covered by earnings.

BDGE opened at $27.37 on Wednesday. Bridge Bancorp has a one year low of $24.12 and a one year high of $38.00. The company has a market capitalization of $533.40 million, a P/E ratio of 13.82 and a beta of 0.90. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.91 and a current ratio of 0.91.

Bridge Bancorp (NASDAQ:BDGE) last released its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.17. Bridge Bancorp had a return on equity of 8.87% and a net margin of 10.46%. The firm had revenue of $39.13 million for the quarter.

In related news, insider Basswood Capital Management, L acquired 13,784 shares of Bridge Bancorp stock in a transaction dated Tuesday, October 16th. The shares were acquired at an average cost of $31.19 per share, for a total transaction of $429,922.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jr. Albert E. Mccoy acquired 2,500 shares of Bridge Bancorp stock in a transaction dated Monday, October 15th. The stock was bought at an average price of $30.83 per share, for a total transaction of $77,075.00. Following the completion of the purchase, the director now owns 116,001 shares of the company’s stock, valued at approximately $3,576,310.83. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 16,980 shares of company stock worth $529,169. Insiders own 13.80% of the company’s stock.

A number of research analysts have commented on BDGE shares. ValuEngine cut Bridge Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. BidaskClub upgraded Bridge Bancorp from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 13th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. Bridge Bancorp has an average rating of “Hold” and an average price target of $38.50.

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Bridge Bancorp Company Profile

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.

Further Reading: What is Net Asset Value (NAV)?

Dividend History for Bridge Bancorp (NASDAQ:BDGE)

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