Bridge Bancorp, Inc. (NASDAQ:BDGE) announced a quarterly dividend on Tuesday, January 8th, Wall Street Journal reports. Shareholders of record on Monday, January 21st will be paid a dividend of 0.23 per share by the financial services provider on Monday, January 28th. This represents a $0.92 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Thursday, January 17th.
Bridge Bancorp has a dividend payout ratio of 43.8% meaning its dividend is sufficiently covered by earnings.
Shares of BDGE opened at $27.02 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.78. Bridge Bancorp has a 1 year low of $24.12 and a 1 year high of $38.00. The company has a market cap of $534.39 million, a price-to-earnings ratio of 13.85 and a beta of 0.90.
A number of equities research analysts have issued reports on the stock. ValuEngine lowered shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. BidaskClub raised shares of Bridge Bancorp from a “strong sell” rating to a “sell” rating in a report on Saturday, October 13th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $38.50.
In other Bridge Bancorp news, Director Jr. Albert E. Mccoy bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, October 15th. The stock was purchased at an average cost of $30.83 per share, with a total value of $77,075.00. Following the completion of the acquisition, the director now owns 116,001 shares in the company, valued at approximately $3,576,310.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Basswood Capital Management, L bought 13,784 shares of the business’s stock in a transaction that occurred on Tuesday, October 16th. The stock was acquired at an average cost of $31.19 per share, with a total value of $429,922.96. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 16,401 shares of company stock valued at $510,705. 13.80% of the stock is currently owned by insiders.
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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 loans; and mortgage-backed securities, collateralized mortgage obligations, and other asset backed securities.
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