Shares of Bridge Bancorp (BDGE) Sees Large Outflow of Money

Bridge Bancorp (BDGE): The stock had negative money flow to the tune of ($6.71 million) on Wednesday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $0.16 million, whereas, the outflow of money on downticks was $6.88 million and the ratio between the two was 0.02. The block trade had a negative net money flow of ($6.7 million). On the other hand, downticks amounted to $6.7 million of the traded value, which shows distribution in the stock by traders. Bridge Bancorp (BDGE) closed with marginal gains of 3 cents to end the day at $29.99, an increase of 0.1% over the previous days close. The stock recorded -0.33% for the week.


Also, Keefe Bruyette & Woods initiates coverage on Bridge Bancorp (NASDAQ:BDGE) The brokerage firm has issued a Market Perform rating on the shares. The Analysts at the ratings agency announces the price target to $33 per share. The rating by the firm was issued on April 15, 2016.

Bridge Bancorp (NASDAQ:BDGE): The stock opened at $30.11 on Wednesday but the bulls could not build on the opening and the stock topped out at $30.14 for the day. The stock traded down to $29.84 during the day, due to lack of any buying support eventually closed down at $29.90 with a loss of -0.96% for the day. The stock had closed at $30.19 on the previous day. The total traded volume was 309,665 shares.

The stock has recorded a 20-day Moving Average of 4.2% and the 50-Day Moving Average is 2.17%. In a related news, Hefter Marcia, Director of BRIDGE BANCORP INC, executed a transaction worth $41,925 on June 24, 2016. A total of 1,500 shares were purchased at an average price of $27.95. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.

Bridge Bancorp, Inc. is a bank holding company for The Bridgehampton National Bank (the Bank). The Company, through its subsidiaries, engages in service commercial and consumer banking business, including accepting time, savings and demand deposits from the consumers, businesses and local municipalities surrounding its branch offices. The Bank operates approximately 40 retail branch locations serving Long Island and the greater New York metropolitan area. The Bank offers merchant credit and debit card processing, automated teller machines, cash management services, online banking services, remote deposit capture, individual retirement accounts and investment services, among others through Bridge Investment Services. The Bank operations include its real estate investment trust subsidiary, Bridgehampton Community, Inc. (BCI), a financial title insurance subsidiary, Bridge Abstract LLC (Bridge Abstract) and an investment services subsidiary, Bridge Financial Services LLC.

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