Dennis A. Suskind Sells 1,000 Shares of Bridge Bancorp, Inc. (BDGE) Stock
Bridge Bancorp, Inc. (NASDAQ:BDGE) Director Dennis A. Suskind sold 1,000 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $32.50, for a total value of $32,500.00. Following the completion of the sale, the director now owns 79,550 shares in the company, valued at $2,585,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Bridge Bancorp, Inc. (NASDAQ:BDGE) traded up 1.40% during mid-day trading on Monday, reaching $32.50. The company’s stock had a trading volume of 53,136 shares. The stock has a market capitalization of $638.49 million, a P/E ratio of 17.18 and a beta of 0.80. The stock’s 50 day moving average price is $33.32 and its 200 day moving average price is $34.73. Bridge Bancorp, Inc. has a 1-year low of $26.90 and a 1-year high of $38.95.
Bridge Bancorp (NASDAQ:BDGE) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by $0.04. Bridge Bancorp had a return on equity of 9.02% and a net margin of 22.91%. The business had revenue of $35.30 million for the quarter, compared to analysts’ expectations of $36.10 million. Analysts expect that Bridge Bancorp, Inc. will post $1.98 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 21st were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, July 19th. This represents a $0.92 dividend on an annualized basis and a yield of 2.83%. Bridge Bancorp’s dividend payout ratio (DPR) is 47.92%.
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A number of hedge funds have recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY boosted its stake in shares of Bridge Bancorp by 2.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 12,742 shares of the financial services provider’s stock worth $483,000 after buying an additional 251 shares during the period. Nationwide Fund Advisors boosted its stake in shares of Bridge Bancorp by 4.2% in the first quarter. Nationwide Fund Advisors now owns 12,252 shares of the financial services provider’s stock worth $429,000 after buying an additional 493 shares during the period. Strategic Advisors LLC raised its position in shares of Bridge Bancorp by 6.4% in the first quarter. Strategic Advisors LLC now owns 9,891 shares of the financial services provider’s stock worth $346,000 after buying an additional 592 shares in the last quarter. American International Group Inc. raised its position in shares of Bridge Bancorp by 7.7% in the first quarter. American International Group Inc. now owns 10,359 shares of the financial services provider’s stock worth $363,000 after buying an additional 743 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Bridge Bancorp by 4.6% in the first quarter. Teachers Advisors LLC now owns 30,199 shares of the financial services provider’s stock worth $1,057,000 after buying an additional 1,337 shares in the last quarter. 55.85% of the stock is owned by hedge funds and other institutional investors.
BDGE has been the topic of several analyst reports. Zacks Investment Research cut Bridge Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. BidaskClub cut Bridge Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $37.00 price objective on shares of Bridge Bancorp in a research note on Wednesday, April 5th.
About Bridge Bancorp
Bridge Bancorp, Inc is a bank holding company for The Bridgehampton National Bank (the Bank). The Bank’s operations include its real estate investment trust subsidiary, Bridgehampton Community, Inc (BCI), a financial title insurance subsidiary, Bridge Abstract LLC (Bridge Abstract), and an investment services subsidiary, Bridge Financial Services LLC (Bridge Financial Services).
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