Price Action Report: Some Traders Are Very Bearish on Bridge Bancorp, Inc. After Today’s Gap Down

Price Action Report: Some Traders Are Very Bearish on Bridge Bancorp, Inc. After Today's Gap Down

The stock of Bridge Bancorp, Inc. (NASDAQ:BDGE) gapped down by $0.05 today and has $24.48 target or 14.00% below today’s $28.46 share price. The 7 months technical chart setup indicates high risk for the $499.84 million company. The gap down was reported on Oct, 4 by If the $24.48 price target is reached, the company will be worth $69.98M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 0.45% or $0.13 during the last trading session, hitting $28.46. About 27,974 shares traded hands. Bridge Bancorp, Inc. (NASDAQ:BDGE) has declined 0.45% since March 1, 2016 and is downtrending. It has underperformed by 12.67% the S&P500.

Analysts await Bridge Bancorp, Inc. (NASDAQ:BDGE) to report earnings on October, 25. They expect $0.52 EPS, up 6.12% or $0.03 from last year’s $0.49 per share. BDGE’s profit will be $9.13M for 13.68 P/E if the $0.52 EPS becomes a reality. After $0.52 actual EPS reported by Bridge Bancorp, Inc. for the previous quarter, Wall Street now forecasts 0.00% 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. Bridge Bancorp has been the topic of 3 analyst reports since April 15, 2016 according to StockzIntelligence Inc. The stock of Bridge Bancorp, Inc. (NASDAQ:BDGE) has “Market Perform” rating given on Friday, April 15 by Wood. FIG Partners downgraded the stock to “Market Perform” rating in Friday, April 29 report. On Thursday, August 25 the stock rating was maintained by Keefe Bruyette & Woods with “Market Perform”.

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

Insitutional Activity: The institutional sentiment decreased to 1.23 in Q2 2016. Its down 0.08, from 1.31 in 2016Q1. The ratio dived, 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.
Bancorp Of America Corp De has invested 0% of its portfolio in Bridge Bancorp, Inc. (NASDAQ:BDGE). The Massachusetts-based Monarch Partners Asset Ltd Llc has invested 0.05% in Bridge Bancorp, Inc. (NASDAQ:BDGE). Clover L P holds 1.53% of its portfolio in Bridge Bancorp, Inc. (NASDAQ:BDGE) for 136,627 shares. Geode Capital Mngmt Ltd Liability Company has invested 0% of its portfolio in Bridge Bancorp, Inc. (NASDAQ:BDGE). American Grp Inc Inc has 0% invested in the company for 9,627 shares. Northern Trust Corp accumulated 0% or 171,027 shares. Brave Asset Management has 0.01% invested in the company for 450 shares. Blackrock Limited holds 3,740 shares or 0% of its portfolio. Fj Capital Mgmt Ltd Limited Liability Company accumulated 3.08% or 546,000 shares. The Pennsylvania-based Penn Mgmt has invested 0.29% in Bridge Bancorp, Inc. (NASDAQ:BDGE). Victory Mngmt holds 0% of its portfolio in Bridge Bancorp, Inc. (NASDAQ:BDGE) for 17,266 shares. Emerald Mutual Fund Advisers Trust has invested 0.36% of its portfolio in Bridge Bancorp, Inc. (NASDAQ:BDGE). Moreover, State Board Of Administration Of Florida Retirement Sys has 0% invested in Bridge Bancorp, Inc. (NASDAQ:BDGE) for 7,344 shares. Invesco Ltd accumulated 0% or 9,013 shares. Td Asset holds 0% or 13,200 shares in its portfolio.

Insider Transactions: Since May 2, 2016, the stock had 0 buys, and 11 selling transactions for $1.57 million net activity. Shares for $640,151 were sold by BASSWOOD CAPITAL MANAGEMENT – L.L.C.. 1,900 Bridge Bancorp, Inc. (NASDAQ:BDGE) shares with value of $57,358 were sold by SUSKIND DENNIS A. BASSWOOD PARTNERS – L.L.C. sold $328,636 worth of stock or 11,219 shares. Another trade for 887 shares valued at $26,865 was made by NOLAN HOWARD H on Thursday, August 18. 734 shares were sold by NIELSEN RAYMOND A, worth $22,328 on Friday, August 19.

More news for Bridge Bancorp, Inc. (NASDAQ:BDGE) were recently published by:, which released: “Quotes are delayed by 20 min” on April 18, 2011.‘s article titled: “Bridge Bancorp, Inc. Announces Agreement to Acquire Community National Bank” and published on December 15, 2014 is yet another important article.

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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