Bridge Bancorp, Inc. (NASDAQ:BDGE) declared a quarterly dividend on Friday, October 4th, Zacks reports. Shareholders of record on Friday, October 18th will be given a dividend of 0.23 per share by the financial services provider on Friday, October 25th. This represents a $0.92 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Thursday, October 17th.
Bridge Bancorp has a payout ratio of 43.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bridge Bancorp to earn $2.69 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 34.2%.
NASDAQ BDGE opened at $29.49 on Tuesday. The firm’s fifty day simple moving average is $28.70 and its two-hundred day simple moving average is $29.09. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.76. Bridge Bancorp has a 12-month low of $24.12 and a 12-month high of $33.88. The firm has a market capitalization of $587.97 million, a P/E ratio of 11.09 and a beta of 1.11.
Bridge Bancorp (NASDAQ:BDGE) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.14). Bridge Bancorp had a return on equity of 11.24% and a net margin of 22.25%. The firm had revenue of $41.02 million during the quarter, compared to analysts’ expectations of $41.20 million. As a group, sell-side analysts predict that Bridge Bancorp will post 2.49 earnings per share for the current fiscal year.
In other news, insider Kevin Santacroce sold 1,500 shares of the business’s 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 sale, the insider now directly owns 39,198 shares of the company’s stock, valued at $1,149,677.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Nathan Lindenbaum acquired 3,875 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $27.16 per share, for a total transaction of $105,245.00. Following the completion of the acquisition, the insider now directly owns 10,015 shares of the company’s stock, valued at $272,007.40. The disclosure for this purchase can be found here. 15.50% of the stock is owned by insiders.
Several equities analysts have issued reports on the stock. BidaskClub raised shares of Bridge Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. DA Davidson assumed coverage on shares of Bridge Bancorp in a report on Thursday, October 3rd. They issued a “neutral” rating and a $33.00 price target on the stock. ValuEngine raised shares of Bridge Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research raised shares of Bridge Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $32.67.
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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