Shares of Bridge Bancorp, Inc. (NASDAQ:BDGE) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.00 and traded as high as $27.30. Bridge Bancorp shares last traded at $27.20, with a volume of 6 shares.
Several research analysts have commented on the stock. BidaskClub downgraded shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, July 18th. Zacks Investment Research downgraded shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 23rd. Finally, Boenning Scattergood reaffirmed a “buy” rating and issued a $34.00 target price on shares of Bridge Bancorp in a research note on Thursday, April 25th. Three equities research analysts have rated the stock with a sell rating and one has assigned a buy rating to the stock. Bridge Bancorp currently has an average rating of “Hold” and a consensus price target of $32.50.
The company has a debt-to-equity ratio of 0.76, a current ratio of 0.93 and a quick ratio of 0.93. The firm’s 50 day moving average is $28.60 and its 200 day moving average is $29.99. The company has a market capitalization of $557.02 million, a PE ratio of 10.55 and a beta of 1.09.
The business also recently declared a quarterly dividend, which was paid on Monday, July 29th. Investors of record on Monday, July 22nd were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.28%. The ex-dividend date was Friday, July 19th. Bridge Bancorp’s dividend payout ratio (DPR) is currently 34.59%.
In related news, Director Rudolph J. Santoro sold 1,700 shares of Bridge Bancorp stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $28.47, for a total value of $48,399.00. Following the sale, the director now owns 30,347 shares in the company, valued at $863,979.09. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kevin Santacroce sold 1,500 shares of Bridge Bancorp stock in a transaction on Friday, July 26th. The shares were sold at an average price of $29.33, for a total transaction of $43,995.00. Following the completion of the sale, the insider now owns 39,198 shares in the company, valued at approximately $1,149,677.34. The disclosure for this sale can be found here. Insiders own 15.50% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can bought a new stake in Bridge Bancorp in the second quarter valued at $41,000. BNP Paribas Arbitrage SA boosted its holdings in Bridge Bancorp by 446.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,467 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 2,832 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in Bridge Bancorp by 352.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,239 shares of the financial services provider’s stock valued at $159,000 after acquiring an additional 4,860 shares in the last quarter. Virginia Retirement Systems ET AL bought a new stake in Bridge Bancorp in the first quarter valued at $211,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in Bridge Bancorp in the first quarter valued at $219,000. Institutional investors and hedge funds own 57.92% of the company’s stock.
About Bridge Bancorp (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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