Bridge Bancorp (NASDAQ:BDGE) Reaches New 1-Year High at $34.02

Bridge Bancorp, Inc. (NASDAQ:BDGE)’s share price reached a new 52-week high on Thursday . The company traded as high as $34.02 and last traded at $34.00, with a volume of 339 shares changing hands. The stock had previously closed at $33.53.

BDGE has been the topic of a number of recent research reports. DA Davidson initiated coverage on shares of Bridge Bancorp in a research note on Thursday, October 3rd. They issued a “neutral” rating and a $33.00 price objective on the stock. ValuEngine lowered shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Zacks Investment Research raised shares of Bridge Bancorp from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, BidaskClub raised shares of Bridge Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Bridge Bancorp currently has an average rating of “Hold” and an average price target of $32.67.

The stock has a market capitalization of $668.14 million, a P/E ratio of 12.64 and a beta of 1.10. The business’s 50 day simple moving average is $30.52 and its two-hundred day simple moving average is $29.19. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.76.

Bridge Bancorp (NASDAQ:BDGE) last released its quarterly earnings results on Friday, October 25th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.04. Bridge Bancorp had a net margin of 25.32% and a return on equity of 11.07%. The company had revenue of $42.96 million for the quarter, compared to analyst estimates of $41.70 million. Analysts predict that Bridge Bancorp, Inc. will post 2.56 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 18th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Thursday, October 17th. Bridge Bancorp’s payout ratio is currently 34.59%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BDGE. Bank of Montreal Can bought a new position in shares of Bridge Bancorp during the second quarter valued at about $41,000. Commonwealth Equity Services LLC bought a new position in shares of Bridge Bancorp during the third quarter valued at about $220,000. Municipal Employees Retirement System of Michigan bought a new position in shares of Bridge Bancorp during the second quarter valued at about $403,000. HighTower Advisors LLC lifted its position in shares of Bridge Bancorp by 42.0% during the second quarter. HighTower Advisors LLC now owns 14,534 shares of the financial services provider’s stock valued at $429,000 after purchasing an additional 4,300 shares in the last quarter. Finally, King Luther Capital Management Corp bought a new position in shares of Bridge Bancorp during the second quarter valued at about $511,000. 58.50% of the stock is currently owned by institutional investors.

Bridge Bancorp Company Profile (NASDAQ:BDGE)

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 and land loans; and mortgage-backed securities, collateralized mortgage obligations, and other asset backed securities.

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