Bridge Bancorp, Inc. (NASDAQ:BDGE) – Investment analysts at Boenning Scattergood upped their Q2 2019 earnings per share estimates for Bridge Bancorp in a note issued to investors on Thursday, April 25th. Boenning Scattergood analyst E. Zwick now anticipates that the financial services provider will post earnings per share of $0.70 for the quarter, up from their prior forecast of $0.67. Boenning Scattergood currently has a “Buy” rating and a $34.00 target price on the stock. Boenning Scattergood also issued estimates for Bridge Bancorp’s Q3 2019 earnings at $0.71 EPS, Q4 2019 earnings at $0.73 EPS and FY2019 earnings at $2.81 EPS.
Other analysts also recently issued reports about the company. TheStreet raised Bridge Bancorp from a “c+” rating to a “b-” rating in a research note on Thursday, February 14th. BidaskClub raised Bridge Bancorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 31st. Finally, ValuEngine downgraded Bridge Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $36.00.
Bridge Bancorp (NASDAQ:BDGE) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Bridge Bancorp had a return on equity of 10.71% and a net margin of 21.69%. The firm had revenue of $39.54 million for the quarter, compared to analyst estimates of $40.10 million.
Several institutional investors have recently modified their holdings of BDGE. BNP Paribas Arbitrage SA raised its stake in shares of 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 worth $102,000 after purchasing an additional 2,832 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Bridge Bancorp by 13.6% in the fourth quarter. Citigroup Inc. now owns 5,111 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 613 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in shares of 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. Acadian Asset Management LLC bought a new position in shares of Bridge Bancorp in the fourth quarter valued at approximately $180,000. Finally, Virginia Retirement Systems ET AL bought a new position in shares of Bridge Bancorp in the first quarter valued at approximately $211,000. 57.77% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Basswood Capital Management, L sold 11,692 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $31.41, for a total value of $367,245.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 209,692 shares of company stock valued at $5,976,447. Company insiders own 15.50% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 19th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.99%. The ex-dividend date was Wednesday, April 17th. Bridge Bancorp’s dividend payout ratio (DPR) is presently 34.59%.
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 and land loans; and mortgage-backed securities, collateralized mortgage obligations, and other asset backed securities.
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