Insider Buying: Bridge Bancorp, Inc. (BDGE) Major Shareholder Buys 109,633 Shares of Stock

Bridge Bancorp, Inc. (NASDAQ:BDGE) major shareholder Basswood Capital Management, L acquired 109,633 shares of Bridge Bancorp stock in a transaction on Thursday, November 30th. The shares were purchased at an average price of $36.09 per share, with a total value of $3,956,654.97. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Bridge Bancorp, Inc. (BDGE) traded down $0.15 during trading hours on Friday, reaching $35.80. 23,942 shares of the company’s stock were exchanged, compared to its average volume of 48,371. The company has a market cap of $716.46, a price-to-earnings ratio of 19.13 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92. Bridge Bancorp, Inc. has a 1-year low of $29.80 and a 1-year high of $38.95.

Bridge Bancorp (NASDAQ:BDGE) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). Bridge Bancorp had a return on equity of 8.52% and a net margin of 22.62%. The company had revenue of $37.32 million during the quarter, compared to the consensus estimate of $36.50 million. sell-side analysts anticipate that Bridge Bancorp, Inc. will post 1.89 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Bridge Bancorp by 14.1% in the first quarter. Vanguard Group Inc. now owns 782,814 shares of the financial services provider’s stock worth $27,399,000 after acquiring an additional 97,006 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Bridge Bancorp by 12.7% in the third quarter. Dimensional Fund Advisors LP now owns 408,778 shares of the financial services provider’s stock worth $13,878,000 after acquiring an additional 46,127 shares during the period. State Street Corp grew its stake in shares of Bridge Bancorp by 9.4% in the second quarter. State Street Corp now owns 338,852 shares of the financial services provider’s stock worth $11,289,000 after acquiring an additional 29,132 shares during the period. Northern Trust Corp grew its stake in shares of Bridge Bancorp by 0.7% in the second quarter. Northern Trust Corp now owns 225,325 shares of the financial services provider’s stock worth $7,503,000 after acquiring an additional 1,494 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Bridge Bancorp by 3.5% in the first quarter. Geode Capital Management LLC now owns 176,852 shares of the financial services provider’s stock worth $6,189,000 after acquiring an additional 5,963 shares during the period. Hedge funds and other institutional investors own 56.75% of the company’s stock.

A number of research firms have weighed in on BDGE. FIG Partners restated a “market-perform” rating on shares of Bridge Bancorp in a research note on Thursday, October 26th. ValuEngine upgraded shares of Bridge Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. Zacks Investment Research upgraded shares of Bridge Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $37.00 price objective on shares of Bridge Bancorp in a research note on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Bridge Bancorp currently has a consensus rating of “Hold” and an average price target of $38.50.

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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).

Insider Buying and Selling by Quarter for Bridge Bancorp (NASDAQ:BDGE)

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