Bridge Bancorp (BDGE) got here out with quarterly earnings of $0.77 per share, beating the Zacks Co
Bridge Bancorp (BDGE) got here out with quarterly earnings of $0.77 per share, beating the Zacks Consensus Estimate of $0.72 per share. This compares to earnings of $0.70 per share a 12 months in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an earnings shock of 6.94%. 1 / 4 in the past, it was anticipated that this financial institution holding firm would publish earnings of $0.52 per share when it really produced earnings of $0.54, delivering a shock of three.85%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates thrice.
Bridge Bancorp, which belongs to the Zacks Banks – Northeast business, posted revenues of $47.50 million for the quarter ended September 2020, surpassing the Zacks Consensus Estimate by 1.71%. This compares to year-ago revenues of $42.96 million. The corporate has topped consensus income estimates two instances during the last 4 quarters.
The sustainability of the inventory’s quick value motion based mostly on the recently-released numbers and future earnings expectations will principally rely on administration’s commentary on the earnings name.
Bridge Bancorp shares have misplaced about 39.9% for the reason that starting of the 12 months versus the S&P 500’s achieve of 5.3%.
What’s Subsequent for Bridge Bancorp?
Whereas Bridge Bancorp has underperformed the market to date this 12 months, the query that involves traders’ minds is: what’s subsequent for the inventory?
There aren’t any straightforward solutions to this key query, however one dependable measure that may assist traders tackle that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified currently.
Empirical analysis exhibits a robust correlation between near-term inventory actions and traits in earnings estimate revisions. Traders can observe such revisions by themselves or depend on a tried-and-tested score software just like the Zacks Rank, which has a formidable observe document of harnessing the facility of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions pattern for Bridge Bancorp was blended. Whereas the magnitude and route of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out consistent with the market within the close to future. You may see the entire record of right now’s Zacks #1 Rank (Robust Purchase) shares right here.
It will likely be attention-grabbing to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is $0.72 on $48.10 million in revenues for the approaching quarter and $2.47 on $179.35 million in revenues for the present fiscal 12 months.
Traders needs to be aware of the truth that the outlook for the business can have a fabric affect on the efficiency of the inventory as properly. By way of the Zacks Trade Rank, Banks – Northeast is presently within the prime 27% of the 250 plus Zacks industries. Our analysis exhibits that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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Bridge Bancorp, Inc. (BDGE): Free Inventory Evaluation Report
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