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.


The 2021 Backdoor Crypto Portfolio (free)

Even if you’re not actively in crypto, you deserve to know what’s actually going on...

Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.

Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.

Sponsored


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.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free