Bridge Bancorp (BDGE) Upgraded to Hold at BidaskClub

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BidaskClub upgraded shares of Bridge Bancorp (NASDAQ:BDGE) from a sell rating to a hold rating in a report issued on Wednesday morning.

Several other research firms have also commented on BDGE. TheStreet lowered shares of Bridge Bancorp from a b rating to a c+ rating in a research report on Thursday, August 9th. Hovde Group lifted their target price on shares of Bridge Bancorp from $37.00 to $38.00 and gave the company a market perform rating in a report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $39.17.

BDGE stock opened at $35.40 on Wednesday. The company has a market cap of $692.48 million, a PE ratio of 20.23 and a beta of 0.77. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.92 and a current ratio of 0.92. Bridge Bancorp has a one year low of $29.80 and a one year high of $38.00.

Bridge Bancorp (NASDAQ:BDGE) last released its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $0.34 EPS for the quarter. The firm had revenue of $31.35 million for the quarter. Bridge Bancorp had a net margin of 12.39% and a return on equity of 7.83%.

In related news, Director Emanuel Arturi sold 3,500 shares of Bridge Bancorp stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $35.01, for a total value of $122,535.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin M. O’connor bought 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was bought at an average price of $35.05 per share, with a total value of $52,575.00. Following the acquisition, the chief executive officer now directly owns 157,925 shares in the company, valued at approximately $5,535,271.25. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 22,595 shares of company stock valued at $791,154 and sold 24,526 shares valued at $866,214. 13.80% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC acquired a new stake in Bridge Bancorp in the 2nd quarter valued at approximately $205,000. Alpine Woods Capital Investors LLC acquired a new position in shares of Bridge Bancorp in the first quarter worth $272,000. Franklin Resources Inc. grew its stake in shares of Bridge Bancorp by 20.9% in the first quarter. Franklin Resources Inc. now owns 8,456 shares of the financial services provider’s stock worth $284,000 after acquiring an additional 1,463 shares in the last quarter. Aperio Group LLC grew its stake in shares of Bridge Bancorp by 21.9% in the first quarter. Aperio Group LLC now owns 9,707 shares of the financial services provider’s stock worth $326,000 after acquiring an additional 1,743 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new position in shares of Bridge Bancorp in the second quarter worth $381,000. Hedge funds and other institutional investors own 57.21% of the company’s stock.

About Bridge Bancorp

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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