Bridge rectifier output voltage at no load?
Note: I am assuming no filter capacitor is connected. 

Well, it sort-of makes sense but you won't get a good reading without a resistive load. 

The average voltage of a (full wave rectified) sine wave is 0.9 times the RMS voltage, or about 19.8V in your case (minus a volt or so because of two diodes with little loading), so maybe 19V. 

However, with no loading the output voltage of a transformer will be higher than the rated (full current) load, typically by 10-20% for a smallish transformer. 

There's another 'however'- the input to your voltmeter will actually have a small capacitor across it and it will act to filter the voltage (since the back leakage of the bridge will be small). So, you'll get a higher than expected voltage, but not reliably. 

I suggest you try putting a resistor such as 10K across the output and measure again. I would expect a reading in the 20-22V range with a basically negligible load.