Bridge Bancorp Inc. (BDGE) Major Shareholder Acquires $84,009.96 in Stock
Bridge Bancorp Inc. (NASDAQ:BDGE) major shareholder Basswood Capital Management, L bought 2,881 shares of Bridge Bancorp stock in a transaction on Monday, September 19th. The stock was acquired at an average price of $29.16 per share, for a total transaction of $84,009.96. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Basswood Capital Management, L also recently made the following trade(s):
- On Tuesday, September 20th, Basswood Capital Management, L sold 4,320 shares of Bridge Bancorp stock. The shares were sold at an average price of $29.07, for a total value of $125,582.40.
Bridge Bancorp Inc. (NASDAQ:BDGE) traded down 1.00% during midday trading on Wednesday, hitting $28.60. The company had a trading volume of 74,401 shares. Bridge Bancorp Inc. has a 52-week low of $25.74 and a 52-week high of $32.40. The firm has a market cap of $490.55 million, a price-to-earnings ratio of 15.00 and a beta of 0.72. The stock has a 50 day moving average of $29.70 and a 200 day moving average of $29.58.
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Bridge Bancorp (NASDAQ:BDGE) last released its earnings results on Thursday, July 28th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.52. Bridge Bancorp had a net margin of 22.65% and a return on equity of 10.00%. On average, analysts anticipate that Bridge Bancorp Inc. will post $2.00 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BDGE. First Trust Advisors LP increased its position in Bridge Bancorp by 1.3% in the second quarter. First Trust Advisors LP now owns 22,377 shares of the financial services provider’s stock worth $636,000 after buying an additional 278 shares during the last quarter. TD Asset Management Inc. increased its position in Bridge Bancorp by 40.4% in the second quarter. TD Asset Management Inc. now owns 13,200 shares of the financial services provider’s stock worth $375,000 after buying an additional 3,800 shares during the last quarter. Swiss National Bank increased its position in Bridge Bancorp by 7.5% in the second quarter. Swiss National Bank now owns 25,900 shares of the financial services provider’s stock worth $736,000 after buying an additional 1,800 shares during the last quarter. California State Teachers Retirement System increased its position in Bridge Bancorp by 11.3% in the second quarter. California State Teachers Retirement System now owns 35,067 shares of the financial services provider’s stock worth $996,000 after buying an additional 3,567 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Bridge Bancorp by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 77,793 shares of the financial services provider’s stock worth $2,209,000 after buying an additional 5,751 shares during the last quarter. Institutional investors own 50.68% of the company’s stock.
Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods cut their price objective on Bridge Bancorp from $30.00 to $28.00 and set a “market perform” rating on the stock in a report on Thursday, August 25th. Zacks Investment Research downgraded Bridge Bancorp from a “hold” rating to a “sell” rating in a report on Monday, August 1st.
Bridge Bancorp Company Profile
Bridge Bancorp, Inc is a bank holding company for The Bridgehampton National Bank (the Bank). The Bank engages in commercial and consumer banking business, including accepting time, savings and demand deposits from the consumers, businesses and local municipalities surrounding its branch offices. These deposits, together with funds generated from operations and borrowings, are invested primarily in commercial real estate loans; multi-family mortgage loans; home equity loans; construction loans; residential mortgage loans; secured and unsecured commercial and consumer loans; Federal Home Loan Bank (FHLB), Federal National Mortgage Association (FNMA), Government National Mortgage Association (GNMA) and Federal Home Loan Mortgage Corporation (FHLMC) and non-agency mortgage-backed securities, collateralized mortgage obligations and other asset backed securities; New York State and local municipal obligations, and the United States government sponsored entity (U.S.
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