Stock On Watch: Time to Reconsider Bridge Bancorp, Inc. After Reaching 52-Week High?

Stock On Watch: Time to Reconsider Bridge Bancorp, Inc. After Reaching 52 Week High?

The stock of Bridge Bancorp, Inc. (NASDAQ:BDGE) hit a new 52-week high and has $36.41 target or 9.00% above today’s $33.40 share price. The 5 months bullish chart indicates low risk for the $632.03 million company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $36.41 price target is reached, the company will be worth $56.88M 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 11,745 shares traded hands. Bridge Bancorp, Inc. (NASDAQ:BDGE) has risen 6.17% since April 26, 2016 and is uptrending. It has outperformed by 0.91% the S&P500.

Analysts await Bridge Bancorp, Inc. (NASDAQ:BDGE) to report earnings on February, 3. They expect $0.52 earnings per share, up 6.12% or $0.03 from last year’s $0.49 per share. BDGE’s profit will be $9.84M for 16.06 P/E if the $0.52 EPS becomes a reality. After $0.51 actual earnings per share reported by Bridge Bancorp, Inc. for the previous quarter, Wall Street now forecasts 1.96% EPS growth.

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 -8.68% below today’s ($33.4) stock price. Bridge Bancorp has been the topic of 3 analyst reports since April 15, 2016 according to StockzIntelligence Inc. Wood initiated the stock with “Market Perform” rating in Friday, April 15 report. The firm has “Market Perform” rating given on Friday, April 29 by FIG Partners. As per Thursday, August 25, the company rating was maintained by Keefe Bruyette & Woods.

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 Q2 2016. Its up 1.30, from 1.23 in 2016Q1. The ratio improved, 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.
The Maryland-based Price T Rowe Associate Md has invested 0.01% in Bridge Bancorp, Inc. (NASDAQ:BDGE). The Pennsylvania-based Vanguard has invested 0% in Bridge Bancorp, Inc. (NASDAQ:BDGE). Castine Capital Mngmt Ltd Limited Liability Company last reported 2.21% of its portfolio in the stock. The Illinois-based Banc Funds Limited Liability Co has invested 0.15% in Bridge Bancorp, Inc. (NASDAQ:BDGE). Blackrock Advsrs Limited Liability Company has 0% invested in the company for 7,551 shares. Alliancebernstein Lp has 0% invested in the company for 25,481 shares. Blackrock Institutional Na last reported 187,870 shares in the company. Great West Life Assurance Can holds 0% or 3,399 shares in its portfolio. Monarch Prns Asset Mngmt Ltd owns 17,552 shares or 0.05% of their US portfolio. Voya Invest Mgmt Ltd Company reported 8,511 shares or 0% of all its holdings. Penn Cap Inc has 0.29% invested in the company for 180,157 shares. Wells Fargo & Mn holds 0% or 5,789 shares in its portfolio. Royal Bank Of Canada has 6,638 shares for 0% of their US portfolio. Basswood Capital Mgmt Ltd Liability Corp, a New York-based fund reported 1.63M shares. Morgan Stanley has 392,793 shares for 0% of their US portfolio.

Insider Transactions: Since June 6, 2016, the stock had 3 insider purchases, and 10 insider sales for $42.11 million net activity. The insider NIELSEN RAYMOND A sold $22,328. SUSKIND DENNIS A sold $61,084 worth of Bridge Bancorp, Inc. (NASDAQ:BDGE) on Friday, November 11. $24.80M worth of Bridge Bancorp, Inc. (NASDAQ:BDGE) was bought by BASSWOOD CAPITAL MANAGEMENT – L.L.C.. On Tuesday, November 22 the insider BASSWOOD PARTNERS – L.L.C. bought $18.15M. $26,865 worth of Bridge Bancorp, Inc. (NASDAQ:BDGE) shares were sold by NOLAN HOWARD H. McCOY JR. ALBERT E bought $136,436 worth of stock or 5,000 shares.

More notable recent Bridge Bancorp, Inc. (NASDAQ:BDGE) news were published by: Globenewswire.com which released: “Bridge Bancorp, Inc. Announces Closing of Public Offering” on November 28, 2016, also Marketwatch.com with their article: “/quotes/zigman/3870025/realtime” 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. Announces Commencement of Common Stock Offering” published on November 21, 2016 as well as Globenewswire.com‘s news article titled: “Bridge Bancorp, Inc. Reports Second Quarter 2016 Results” with publication date: July 28, 2016.

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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