ValuEngine Downgrades Bridge Bancorp (BDGE) to Sell

Bridge Bancorp (NASDAQ:BDGE) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Several other analysts have also issued reports on BDGE. BidaskClub lowered Bridge Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Hovde Group upped their price objective on Bridge Bancorp from $37.00 to $38.00 and gave the company a “market perform” rating in a research note on Thursday, July 26th. Finally, TheStreet lowered Bridge Bancorp from a “b” rating to a “c+” rating in a research note on Thursday, August 9th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Bridge Bancorp has a consensus rating of “Hold” and a consensus target price of $39.17.

NASDAQ:BDGE traded up $0.15 on Wednesday, hitting $29.26. The company’s stock had a trading volume of 349 shares, compared to its average volume of 41,197. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $591.58 million, a price-to-earnings ratio of 17.28 and a beta of 0.79. Bridge Bancorp has a one year low of $27.74 and a one year high of $38.00.



Bridge Bancorp (NASDAQ:BDGE) last released its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.17. The firm had revenue of $39.13 million for the quarter. Bridge Bancorp had a return on equity of 7.83% and a net margin of 12.39%.

In other news, insider Basswood Capital Management, L bought 49,891 shares of the stock in a transaction dated Tuesday, September 11th. The shares were bought at an average price of $35.75 per share, for a total transaction of $1,783,603.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jr. Albert E. Mccoy bought 2,500 shares of the stock in a transaction dated Monday, October 15th. The shares were purchased at an average price of $30.83 per share, for a total transaction of $77,075.00. Following 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. In the last quarter, insiders have bought 172,852 shares of company stock worth $5,973,170 and have sold 31,008 shares worth $1,095,537. 13.80% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. California Public Employees Retirement System grew its position in Bridge Bancorp by 34.8% during the first quarter. California Public Employees Retirement System now owns 24,548 shares of the financial services provider’s stock worth $824,000 after buying an additional 6,344 shares in the last quarter. Mackay Shields LLC grew its position in Bridge Bancorp by 48.6% during the second quarter. Mackay Shields LLC now owns 23,543 shares of the financial services provider’s stock worth $847,000 after buying an additional 7,700 shares in the last quarter. Swiss National Bank grew its position in Bridge Bancorp by 11.3% during the second quarter. Swiss National Bank now owns 30,600 shares of the financial services provider’s stock worth $1,100,000 after buying an additional 3,100 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Bridge Bancorp by 10.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 92,949 shares of the financial services provider’s stock worth $3,119,000 after buying an additional 9,092 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Bridge Bancorp by 20.4% during the second quarter. Renaissance Technologies LLC now owns 238,600 shares of the financial services provider’s stock worth $8,578,000 after buying an additional 40,500 shares in the last quarter. 57.20% of the stock is currently owned by institutional investors and hedge funds.

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.

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