Bridge Bancorp, Inc. (NASDAQ:BDGE) Expected to Announce Earnings of $0.72 Per Share

Brokerages expect Bridge Bancorp, Inc. (NASDAQ:BDGE) to post earnings per share (EPS) of $0.72 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Bridge Bancorp’s earnings. The lowest EPS estimate is $0.69 and the highest is $0.75. Bridge Bancorp reported earnings per share of $0.70 during the same quarter last year, which indicates a positive year over year growth rate of 2.9%. The firm is scheduled to announce its next earnings results on Thursday, October 22nd.

On average, analysts expect that Bridge Bancorp will report full-year earnings of $2.59 per share for the current fiscal year, with EPS estimates ranging from $2.37 to $2.87. For the next fiscal year, analysts anticipate that the firm will post earnings of $2.61 per share, with EPS estimates ranging from $2.53 to $2.70. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Bridge Bancorp.

Bridge Bancorp (NASDAQ:BDGE) last issued its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Bridge Bancorp had a net margin of 23.52% and a return on equity of 9.66%. The firm had revenue of $42.68 million during the quarter, compared to the consensus estimate of $42.95 million.

BDGE has been the subject of a number of analyst reports. BidaskClub downgraded shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, September 17th. ValuEngine downgraded shares of Bridge Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, August 3rd. Zacks Investment Research downgraded shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, September 16th. Finally, DA Davidson reaffirmed a “neutral” rating on shares of Bridge Bancorp in a report on Monday, September 14th. Three research analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. The company presently has an average rating of “Sell” and an average target price of $27.50.

Bridge Bancorp stock traded down $0.58 during mid-day trading on Tuesday, reaching $17.12. The company had a trading volume of 172,971 shares, compared to its average volume of 86,020. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.83. Bridge Bancorp has a 52 week low of $17.01 and a 52 week high of $34.25. The company has a 50 day moving average of $20.03 and a 200-day moving average of $20.37. The firm has a market cap of $349.49 million, a price-to-earnings ratio of 7.07 and a beta of 1.10.

In other news, Director Daniel Rubin bought 4,971 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was acquired at an average price of $20.68 per share, for a total transaction of $102,800.28. Following the transaction, the director now directly owns 31,309 shares of the company’s stock, valued at approximately $647,470.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have purchased a total of 6,000 shares of company stock valued at $121,381 in the last quarter. 15.50% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors acquired a new stake in shares of Bridge Bancorp during the 2nd quarter worth about $33,000. Bank of Montreal Can acquired a new stake in shares of Bridge Bancorp during the 2nd quarter worth about $33,000. BNP Paribas Arbitrage SA increased its position in shares of Bridge Bancorp by 25.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,055 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 1,033 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Bridge Bancorp by 61.0% during the 1st quarter. SG Americas Securities LLC now owns 5,610 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 2,126 shares in the last quarter. Finally, Citigroup Inc. increased its position in shares of Bridge Bancorp by 54.2% during the 1st quarter. Citigroup Inc. now owns 5,623 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 1,976 shares in the last quarter. Institutional investors and hedge funds own 57.62% of the company’s stock.

Bridge Bancorp Company Profile

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.

Recommended Story: How Short Selling Works

Get a free copy of the Zacks research report on Bridge Bancorp (BDGE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Bridge Bancorp (NASDAQ:BDGE)

Receive News & Ratings for Bridge Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bridge Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.