Today’s Stock Alert: Will Bridge Bancorp, Inc. Run Out of Steam Soon?

Today's Stock Alert: Will Bridge Bancorp, Inc. Run Out of Steam Soon?

The stock of Bridge Bancorp, Inc. (NASDAQ:BDGE) hit a new 52-week high and has $34.08 target or 6.00% above today’s $32.15 share price. The 6 months bullish chart indicates low risk for the $572.69M company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $34.08 price target is reached, the company will be worth $34.36 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 101,113 shares traded hands or 81.25% up from the average. Bridge Bancorp, Inc. (NASDAQ:BDGE) has risen 4.46% since April 20, 2016 and is uptrending. It has underperformed by 0.10% the S&P500.

Bridge Bancorp, Inc. (NASDAQ:BDGE) Ratings Coverage

Out of 3 analysts covering Bridge Bancorp (NASDAQ:BDGE), 0 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 0 are positive. $33 is the highest target while $28 is the lowest. The $30.50 average target is -5.13% below today’s ($32.15) stock price. Bridge Bancorp has been the topic of 3 analyst reports since April 15, 2016 according to StockzIntelligence Inc. The stock has “Market Perform” rating given by Wood on Friday, April 15. Keefe Bruyette & Woods maintained the shares of BDGE in a report on Thursday, August 25 with “Market Perform” rating. The company was downgraded on Friday, April 29 by FIG Partners.

According to Zacks Investment Research, “Bridge Bancorp, Inc. is the bank holding company of The Bridgehampton National Bank.”

Insitutional Activity: The institutional sentiment increased to 2.53 in 2016 Q2. Its up 1.30, from 1.23 in 2016Q1. The ratio is positive, as 7 funds sold all Bridge Bancorp, Inc. shares owned while 19 reduced positions. 2 funds bought stakes while 30 increased positions. They now own 8.81 million shares or 0.61% more from 8.75 million shares in 2016Q1.
Deutsche Natl Bank Ag holds 0% or 105,091 shares in its portfolio. Price T Rowe Assocs Md owns 1.46M shares or 0.01% of their US portfolio. Diamond Hill Capital Mngmt reported 17,480 shares or 0% of all its holdings. Zurcher Kantonalbank (Zurich Cantonalbank) last reported 0% of its portfolio in the stock. American Int Gp holds 0% of its portfolio in Bridge Bancorp, Inc. (NASDAQ:BDGE) for 9,627 shares. Moreover, Northern Tru Corp has 0% invested in Bridge Bancorp, Inc. (NASDAQ:BDGE) for 171,027 shares. Private Advisor Ltd Liability has invested 0.04% of its portfolio in Bridge Bancorp, Inc. (NASDAQ:BDGE). New York State Common Retirement Fund owns 19,300 shares or 0% of their US portfolio. Moreover, Clover Prtnrs Limited Partnership has 1.53% invested in Bridge Bancorp, Inc. (NASDAQ:BDGE) for 136,627 shares. Creative Planning has 1,441 shares for 0% of their US portfolio. Tiaa Cref Invest Mgmt Limited Liability Corporation holds 49,909 shares or 0% of its portfolio. Teachers Advsr Inc accumulated 0% or 26,666 shares. Nationwide Fund Advsr, a Pennsylvania-based fund reported 10,913 shares. National Bank & Trust Of America Corp De last reported 31,121 shares in the company. Credit Suisse Ag has 0% invested in the company for 15,908 shares.

Insider Transactions: Since June 6, 2016, the stock had 1 insider buy, and 10 sales for $834,610 net activity. Another trade for 1,000 shares valued at $27,550 was made by SUSKIND DENNIS A on Monday, October 31. $136,436 worth of Bridge Bancorp, Inc. (NASDAQ:BDGE) shares were bought by McCOY JR. ALBERT E. $26,865 worth of Bridge Bancorp, Inc. (NASDAQ:BDGE) was sold by NOLAN HOWARD H. Another trade for 22,005 shares valued at $640,151 was sold by BASSWOOD CAPITAL MANAGEMENT – L.L.C.. $22,328 worth of Bridge Bancorp, Inc. (NASDAQ:BDGE) was sold by NIELSEN RAYMOND A on Friday, August 19.

More notable recent Bridge Bancorp, Inc. (NASDAQ:BDGE) news were published by: Reuters.com which released: “BRIEF-Bridge Bancorp reports pricing of public offering of 1613000 share…” on November 22, 2016, also Marketwatch.com with their article: “Virtual Stock Exchange” published on April 18, 2011, Globenewswire.com published: “Bridge Bancorp, Inc. Announces Agreement to Acquire Community National Bank” on December 15, 2014. More interesting news about Bridge Bancorp, Inc. (NASDAQ:BDGE) were released by: Globenewswire.com and their article: “Bridge Bancorp, Inc. Reports Second Quarter 2016 Results” published on July 28, 2016 as well as Globenewswire.com‘s news article titled: “Bridge Bancorp, Inc. Announces Third Quarter 2016 Dividend” with publication date: January 29, 2015.

BDGE Company Profile

Bridge Bancorp, Inc., incorporated on October 13, 1988, is a bank holding firm for The Bridgehampton National Bank (the Bank). The Bank engages in commercial and consumer banking business, including accepting time, savings and demand deposits from the consumers, businesses and local municipalities surrounding its branch offices. These deposits, together with funds generated from activities and borrowings, are invested primarily in commercial real estate loans; multi-family mortgage loans; home equity loans; construction loans; residential mortgage loans; secured and unsecured commercial and consumer loans; Federal Home Loan Bank (FHLB), Federal National Mortgage Association (FNMA), Government National Mortgage Association (GNMA) and Federal Home Loan Mortgage Corporation (FHLMC) and non-agency mortgage-backed securities, collateralized mortgage obligations and other asset backed securities; New York State and local municipal obligations, and the United States government sponsored entity (U.S. GSE) securities. The Bank’s activities include Bridgehampton Community, Inc. (BCI), which is its real estate investment trust subsidiary; Bridge Abstract LLC (Bridge Abstract), which is a financial title insurance subsidiary, and Bridge Financial Services LLC (Bridge Financial Services), which is an investment services subsidiary.

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