BDGE - Bridge Bancorp's Price Dip Creates Opportunity
Bridge Bancorp’s (BDGE) earnings are expected to continue to rise in 2020, mostly on the back of continued loan portfolio expansion. However, some pressure on the bottom-line is expected from growth in salary expenses. Slight contraction in net interest margin following the interest rate cuts is also expected to somewhat impact earnings. Based on my outlook on the operating environment and management’s guidance, I have updated BDGE’s target price, which is almost unchanged from my previous target. Due to the market price decline this year, the target price suggests a double-digit upside from