Bridge Bancorp, Inc. (NASDAQ:BDGE) Director Daniel Rubin Sells 500 Shares

Posted by on Dec 4th, 2019 // Comments off

Bridge Bancorp, Inc. (NASDAQ:BDGE) Director Daniel Rubin sold 500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $32.75, for a total transaction of $16,375.00. Following the transaction, the director now owns 25,914 shares of the company’s stock, valued at $848,683.50. The transaction was disclosed in a filing with the SEC, which is available through this link.

NASDAQ BDGE traded up $0.35 on Wednesday, reaching $32.75. The company had a trading volume of 5,336 shares, compared to its average volume of 32,830. The firm has a market cap of $648.22 million, a price-to-earnings ratio of 12.31 and a beta of 1.11. Bridge Bancorp, Inc. has a fifty-two week low of $24.12 and a fifty-two week high of $34.13. The business has a 50 day moving average of $32.20 and a two-hundred day moving average of $29.47. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.97 and a quick ratio of 0.97.

Bridge Bancorp (NASDAQ:BDGE) last announced its earnings results on Friday, October 25th. The financial services provider reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.04. The firm had revenue of $42.96 million for the quarter, compared to the consensus estimate of $41.70 million. Bridge Bancorp had a return on equity of 10.95% and a net margin of 25.32%. As a group, research analysts predict that Bridge Bancorp, Inc. will post 2.56 earnings per share for the current fiscal year.

A number of analysts have weighed in on BDGE shares. ValuEngine lowered shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. BidaskClub cut shares of Bridge Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Zacks Investment Research upgraded shares of Bridge Bancorp from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Tuesday, November 19th. Finally, DA Davidson initiated coverage on Bridge Bancorp in a research report on Thursday, October 3rd. They issued a “neutral” rating and a $33.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $34.67.

Several hedge funds have recently made changes to their positions in the company. Bank of Montreal Can bought a new stake in shares of Bridge Bancorp during the second quarter valued at approximately $41,000. Commonwealth Equity Services LLC purchased a new stake in shares of Bridge Bancorp in the third quarter worth approximately $220,000. Municipal Employees Retirement System of Michigan bought a new position in shares of Bridge Bancorp in the second quarter valued at approximately $403,000. HighTower Advisors LLC lifted its holdings in shares of Bridge Bancorp by 42.0% in 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 purchased a new stake in shares of Bridge Bancorp in the second quarter valued at about $511,000. 59.11% of the stock is owned by institutional investors.

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

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