Why Shares of Bridge Bancorp Inc. (BDGE) Are Going Crazy

Bridge Bancorp Inc. (NASDAQ: BDGE) is -36.42% lower on its value in year-to-date trading and has touched a low of $17.17 and a high of $34.25 in the current 52-week trading range. The BDGE stock was last observed hovering at around $22.07 in the last trading session, with the day’s loss setting it -0.75% off its average median price target of $24.50 for the next 12 months. It is also 23.86% off the consensus price target high of $28.00 offered by 5 analysts, but current levels are 7.3% higher than the price target low of $23.00 for the same period.

Currently trading at $21.32, the stock is -4.15% and 2.89% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.21 million and changing -3.40% at the moment leaves the stock -21.80% off its SMA200. BDGE registered -25.84% loss for a year compared to 6-month loss of -37.03%. The firm has a 50-day simple moving average (SMA 50) of $21.34 and a 200-day simple moving average (SMA200) of $25.41.

The stock witnessed a -2.47% gain in the last 1 month and extending the period to 3 months gives it a 6.18%, and is -5.33% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.28% over the week and 5.03% over the month.

Bridge Bancorp Inc. (BDGE) has around 496 employees, a market worth around $409.56M and $181.60M in sales. Current P/E ratio is 8.86 and Fwd P/E is 8.46. Profit margin for the company is 25.90%. Distance from 52-week low is 24.17% and -37.75% from its 52-week high. The company has generated returns on investments over the last 12 months (21.30%).

Bridge Bancorp Inc. (BDGE) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Bridge Bancorp Inc. (BDGE) is a “Overweight”. 5 analysts offering their recommendations for the stock have an average rating of 2.60, where 3 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Bridge Bancorp Inc. is expected to release its quarterly report on 07/28/2020 and quarterly earnings per share for the current quarter are estimated at $0.58 with sales reaching $41.6M over the same period.The EPS is expected to grow by 31.20% this year, but quarterly earnings will post 18.90% year-over-year. Quarterly sales are estimated to grow 17.10% in year-over-year returns.

Bridge Bancorp Inc. (BDGE) Top Institutional Holders

145 institutions hold shares in Bridge Bancorp Inc. (BDGE), with 1.8M shares held by insiders accounting for 9.25% while institutional investors hold 66.31% of the company’s shares. The shares outstanding are 19.53M, and float is at 17.91M with Short Float at 2.35%. Institutions hold 60.18% of the Float.

The top institutional shareholder in the company is Price (T.Rowe) Associates Inc with over 2.36 million shares valued at $49.85 million. The investor’s holdings represent 11.94% of the BDGE Shares outstanding. As of Mar 30, 2020, the second largest holder is Basswood Capital Management, L.L.C. with 1.99 million shares valued at $42.2 million to account for 10.11% of the shares outstanding. The other top investors are Blackrock Inc. which holds 1.22 million shares representing 6.20% and valued at over $25.88 million, while Dimensional Fund Advisors LP holds 4.25% of the shares totaling 0.84 million with a market value of $17.75 million.

Bridge Bancorp Inc. (BDGE) Insider Activity

A total of 31 insider transactions have happened at Bridge Bancorp Inc. (BDGE) in the last six months, with sales accounting for 6 and purchases happening 25 times. The most recent transaction is an insider purchase by NIELSEN RAYMOND A, the company’s Director. SEC filings show that NIELSEN RAYMOND A bought 3,060 shares of the company’s common stock on Jun 13 at a price of $21.20 per share for a total of $64882.0. Following the purchase, the insider now owns 29102.0 shares.

Bridge Bancorp Inc. disclosed in a document filed with the SEC on Jun 02 that SANTACROCE KEVIN (Chief Lending Officer) sold a total of 2,000 shares of the company’s common stock. The trade occurred on Jun 02 and was made at $20.94 per share for $41873.0. Following the transaction, the insider now directly holds 39649.0 shares of the BDGE stock.

Still, SEC filings show that on Jun 01, MASSOUD CHARLES I (Director) acquired 1,449 shares at an average price of $21.00 for $30429.0. The insider now directly holds 22,757 shares of Bridge Bancorp Inc. (BDGE).

Bridge Bancorp Inc. (BDGE): Who are the competitors?

The company’s main competitors (and peers) include Arrow Financial Corporation (AROW) that is trading -16.73% down over the past 12 months. Short interest in the company’s stock has fallen -11.21% from the last report on May 14, 2020 to stand at a total of 0.44 million short shares sold with a short interest ratio of 5.05.