Bridge Bancorp, Inc. (NASDAQ:BDGE) declared a quarterly dividend on Monday, July 8th, Zacks reports. Shareholders of record on Monday, July 22nd will be given a dividend of 0.23 per share by the financial services provider on Monday, July 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Friday, July 19th.
Bridge Bancorp has a dividend payout ratio of 43.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Bridge Bancorp to earn $2.97 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 31.0%.
Bridge Bancorp stock opened at $29.01 on Wednesday. Bridge Bancorp has a 1-year low of $24.12 and a 1-year high of $37.03. The company has a market capitalization of $576.19 million, a price-to-earnings ratio of 10.91 and a beta of 1.08. The firm has a fifty day simple moving average of $28.68. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.93 and a quick ratio of 0.93.
Several analysts have recently commented on BDGE shares. ValuEngine upgraded shares of The Western Union from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. Zacks Investment Research upgraded shares of FirstService from a “strong sell” rating to a “hold” rating and set a $110.00 target price for the company in a report on Tuesday, June 25th. BidaskClub upgraded shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. Finally, Boenning Scattergood reiterated a “neutral” rating on shares of United Bankshares in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Bridge Bancorp has an average rating of “Hold” and an average target price of $34.33.
In other news, major shareholder Nathan Lindenbaum bought 3,126 shares of the stock in a transaction dated Friday, May 31st. The stock was bought at an average price of $27.75 per share, for a total transaction of $86,746.50. Following the completion of the acquisition, the insider now directly owns 7,015 shares in the company, valued at approximately $194,666.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 15.50% of the company’s stock.
About Bridge Bancorp
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 and land loans; and mortgage-backed securities, collateralized mortgage obligations, and other asset backed securities.
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