Notable Mover: What’s Bridge Bancorp, Inc. Upside After Touching All Time High?

Notable Mover: What's Bridge Bancorp, Inc. Upside After Touching All Time High?

The stock of Bridge Bancorp, Inc. (NASDAQ:BDGE) reached all time high today, Nov, 24 and still has $35.53 target or 8.00% above today’s $32.90 share price. This indicates more upside for the $583.19 million company. This technical setup was reported by Barchart.com. If the $35.53 PT is reached, the company will be worth $46.66 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 1.86% or $0.6 on November 23, hitting $32.9. About 71,985 shares traded hands or 12.83% up from the average. Bridge Bancorp, Inc. (NASDAQ:BDGE) has risen 6.27% since April 22, 2016 and is uptrending. It has outperformed by 0.86% the S&P500.

Analysts await Bridge Bancorp, Inc. (NASDAQ:BDGE) to report earnings on February, 3. They expect $0.52 EPS, up 6.12% or $0.03 from last year’s $0.49 per share. BDGE’s profit will be $9.22 million for 15.82 P/E if the $0.52 EPS becomes a reality. After $0.51 actual EPS 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. Bridge Bancorp has been the topic of 3 analyst reports since April 15, 2016 according to StockzIntelligence Inc. As per Thursday, August 25, the company rating was maintained by Keefe Bruyette & Woods. FIG Partners downgraded the shares of BDGE in a report on Friday, April 29 to “Market Perform” rating. The rating was initiated by Wood on Friday, April 15 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 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.
Jpmorgan Chase last reported 0% of its portfolio in the stock. State Street has 0% invested in the company for 238,550 shares. Banc Funds Communications Limited Liability Corp holds 0.15% of its portfolio in Bridge Bancorp, Inc. (NASDAQ:BDGE) for 87,965 shares. Royal Commercial Bank Of Canada reported 6,638 shares or 0% of all its holdings. California State Teachers Retirement Sys holds 0% or 35,067 shares in its portfolio. Blackrock, a New York-based fund reported 4,431 shares. Creative Planning, a Kansas-based fund reported 1,441 shares. Moreover, State Board Of Administration Of Florida Retirement has 0% invested in Bridge Bancorp, Inc. (NASDAQ:BDGE) for 7,344 shares. Tiaa Cref Inv Mngmt Ltd Company, a New York-based fund reported 49,909 shares. Ameriprise Financial Incorporated has 0% invested in the company for 108,210 shares. First Trust Limited Partnership reported 22,377 shares or 0% of all its holdings. Vanguard Group Incorporated owns 498,217 shares or 0% of their US portfolio. Blackrock Institutional Tru Na holds 0% or 187,870 shares in its portfolio. Grp Incorporated reported 9,627 shares or 0% of all its holdings. Clover Ptnrs L P accumulated 1.53% or 136,627 shares.

Insider Transactions: Since June 6, 2016, the stock had 3 buys, and 10 selling transactions for $42.11 million net activity. BASSWOOD CAPITAL MANAGEMENT – L.L.C. sold $640,151 worth of stock or 22,005 shares. SUSKIND DENNIS A had sold 1,000 shares worth $30,550 on Monday, June 6. $22,328 worth of shares were sold by NIELSEN RAYMOND A on Friday, August 19. Shares for $18.15M were bought by BASSWOOD PARTNERS – L.L.C. on Tuesday, November 22. Another trade for 887 shares valued at $26,865 was sold by NOLAN HOWARD H. McCOY JR. ALBERT E also bought $136,436 worth of Bridge Bancorp, Inc. (NASDAQ:BDGE) on Wednesday, November 2.

More important recent Bridge Bancorp, Inc. (NASDAQ:BDGE) news were published by: Marketwatch.com which released: “/quotes/zigman/3870025/realtime” on April 18, 2011, also Streetinsider.com published article titled: “Form 5 BRIDGE BANCORP INC For: Dec 31 Filed by: Lindenbaum Nathan”, 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) was released by: Globenewswire.com and their article: “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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