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Bridge Q3 Earnings: Can NasdaqGS:BDGE Hit Its $0.73 EPS Target?

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Bridge Bancorp, Inc. (NasdaqGS:BDGE) is scheduled to report Q3 earnings results after markets close for trading on October 27, 2020.

The company is expected to report earnings of $0.73/share on revenue of $47.525 million. The consensus earnings per share (EPS) of $0.73/share is based on a poll of 4 analysts and represents a growth in eps of 4.3% over the same quarter last year, when the company reported earnings of $0.70/share.

The revenue forecast of $47.525 million based on a poll of 4 analysts implies a year-over-year (YoY) growth in revenue of 10.6%. Last year the company reported $42.959 million in revenue for the quarter.

Expected to report EPS growth of 4.3% for Q3, 2020
Metric Expected Prior Year YoY Change
Revenue $47.52 $42.96 10.6%
EPS $0.73 $0.70 4.3%

Earnings Call Trends

Historically, management has exceeded analyst expectations 5 out of the last 8 tracked quarters, missed 2 quarters, and met expectations 1 quarter.

What are your expectations from Bridge Bancorp, Inc. for earnings this quarter? Let us know in the comments!

Analyst Expected vs. Reported EPS
Quarter Expected Reported Surprise Result
Q2, 2020 $0.51 $0.54 5.1% Beat
Q1, 2020 $0.56 $0.47 −16.7% Missed
Q4, 2019 $0.68 $0.71 3.8% Beat
Q3, 2019 $0.66 $0.70 6.4% Beat
Q2, 2019 $0.66 $0.53 −20.0% Missed
Q1, 2019 $0.65 $0.65 0% Met
Q4, 2018 $0.67 $0.70 4.5% Beat
Q3, 2018 $0.66 $0.70 6.1% Beat

In the following table, we summarize the company’s stock price movements after earnings releases. The “Price Day Prior” column shows the closing stock price on the day before the earnings report, and the “Price Next Day” column shows the stock price at the end of the trading day after the earnings report. After the last earnings report for the period ending June 30, 2020, the stock price reacted by increasing 3.3%.

Stock Price Performance After Earnings
Report Date Price Day Prior Price Next Day Change % Result
July 28, 2020 $18.02 $18.61 3.3% Increase
April 29, 2020 $20.84 $20.69 −0.7% Decline
January 29, 2020 $31.60 $31.71 0.3% Increase
October 24, 2019 $30 $31.96 6.5% Increase

Fundamentals And Technical Analysis

Bridge Bancorp, Inc. is currently trading at $19.43/share, up 0.7% for the day. The company is trading at approximately 56.7% of its 52-week high of $34.25/share. The company’s stock price is up 4.4% since the last earnings report and up 2.9% over the previous week.

The company’s 14 Day Relative Price Index (RSI) of 51.03 suggests the company is trading in technically neutral territory. The RSI is considered overbought when above 70 and oversold when below 30.


NasdaqGS:BDGE Stock Price Chart
Source: Finbox

The current share price implies a price-to-earnings (P/E) multiple of 8.03 and a forward P/E multiple of 7.25.

Bridge Bancorp, Inc.’s current share price also implies a price-to-book (P/B) multiple of 0.75. The following table summarizes some other key fundamental ratios:

Data as of October 21, 2020
Metric Value
Last Reported Fiscal Period Key FY2020.Q2
Period End Date June 30, 2020
Stock Price (Current) $19.43
P/E Ratio 8.0x
P/E Ratio (Fwd) 7.3x
PEG Ratio 0.8
Total Debt / Total Capital 55.9%
Levered Free Cash Flow $59.959 million
Price To Sales 2.4x

Finbox

Bridge Bancorp, Inc. is a small-cap stock with a market capitalization of $378.4 million. The company operates in the Financials sector and the Banks industry.

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. In addition, it offers certificate of deposit account registry service and insured cash sweep programs; merchant credit and debit card processing, cash management, lockbox processing, online banking, and remote deposit capture services; automated teller machines, safe deposit boxes, and individual retirement accounts; and investment products and services through a third party broker dealer, as well as title insurance brokerage services. As of April 20, 2020, the company operated 39 branch locations serving Long Island and the greater New York metropolitan area. Bridge Bancorp, Inc. was founded in 1910 and is headquartered in Bridgehampton, New York.

Expertise: financial modeling, mergers & acquisitions. Andy is also a founder at finbox.io, where he’s focused on building tools that make it faster and easier for investors to do investment research. Andy’s background is in investment banking where he led the analysis on over 50 board advisory engagements involving mergers and acquisitions, fairness opinions and solvency opinions. Some of his board advisory highlights: - Sears Holdings Corp.’s $620 mm spin-off via rights offering of Sears Outlet, Hometown Stores and Sears Hardware Stores. - Cerberus Capital Management’s $3.3 bn acquisition of SUPERVALU Inc.’s New Albertsons, Inc. assets. Andy can be reached at andy@finbox.io or at +1 (516) 778-6257.

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