Bridge Bancorp Inc. (BDGE) Major Shareholder Sells $125,582.40 in Stock
Bridge Bancorp Inc. (NASDAQ:BDGE) major shareholder Basswood Capital Management, L sold 4,320 shares of the business’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $29.07, for a total transaction of $125,582.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Basswood Capital Management, L also recently made the following trade(s):
- On Monday, September 19th, Basswood Capital Management, L bought 2,881 shares of Bridge Bancorp stock. The shares were bought at an average cost of $29.16 per share, with a total value of $84,009.96.
Shares of Bridge Bancorp Inc. (NASDAQ:BDGE) traded down 1.00% during mid-day trading on Wednesday, reaching $28.60. 74,401 shares of the company traded hands. Bridge Bancorp Inc. has a 52 week low of $25.74 and a 52 week high of $32.40. The company has a market capitalization of $490.55 million, a P/E ratio of 15.00 and a beta of 0.72. The stock’s 50-day moving average is $29.70 and its 200-day moving average is $29.58.
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Bridge Bancorp (NASDAQ:BDGE) last issued its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.52. Bridge Bancorp had a net margin of 22.65% and a return on equity of 10.00%. On average, equities analysts predict that Bridge Bancorp Inc. will post $2.00 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of BDGE. BlackRock Group LTD acquired a new position in shares of Bridge Bancorp during the first quarter valued at about $117,000. BlackRock Inc. increased its position in shares of Bridge Bancorp by 326.5% in the second quarter. BlackRock Inc. now owns 4,431 shares of the financial services provider’s stock valued at $125,000 after buying an additional 3,392 shares during the last quarter. BlackRock Advisors LLC increased its position in shares of Bridge Bancorp by 11.2% in the second quarter. BlackRock Advisors LLC now owns 7,551 shares of the financial services provider’s stock valued at $214,000 after buying an additional 759 shares during the last quarter. Strategic Advisors LLC increased its position in shares of Bridge Bancorp by 0.5% in the second quarter. Strategic Advisors LLC now owns 8,491 shares of the financial services provider’s stock valued at $241,000 after buying an additional 41 shares during the last quarter. Finally, American International Group Inc. increased its position in shares of Bridge Bancorp by 16.1% in the second quarter. American International Group Inc. now owns 9,627 shares of the financial services provider’s stock valued at $273,000 after buying an additional 1,333 shares during the last quarter. 50.68% of the stock is currently owned by institutional investors.
A number of analysts have recently commented on BDGE shares. Keefe, Bruyette & Woods cut their target price on shares of Bridge Bancorp from $30.00 to $28.00 and set a “market perform” rating for the company in a research note on Thursday, August 25th. Zacks Investment Research cut shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a research note 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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