Dimensional Fund Advisors LP boosted its stake in shares of Bridge Bancorp, Inc. (NASDAQ:BDGE) by 18.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 600,096 shares of the financial services provider’s stock after acquiring an additional 92,498 shares during the period. Dimensional Fund Advisors LP owned 3.03% of Bridge Bancorp worth $21,574,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Swiss National Bank lifted its holdings in Bridge Bancorp by 7.8% during the first quarter. Swiss National Bank now owns 27,500 shares of the financial services provider’s stock worth $923,000 after acquiring an additional 2,000 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Bridge Bancorp by 10.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 92,949 shares of the financial services provider’s stock worth $3,119,000 after acquiring an additional 9,092 shares in the last quarter. Aperio Group LLC lifted its holdings in Bridge Bancorp by 21.9% during the first quarter. Aperio Group LLC now owns 9,707 shares of the financial services provider’s stock worth $326,000 after acquiring an additional 1,743 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Bridge Bancorp by 20.9% during the first quarter. Franklin Resources Inc. now owns 8,456 shares of the financial services provider’s stock worth $284,000 after acquiring an additional 1,463 shares in the last quarter. Finally, California Public Employees Retirement System lifted its holdings in Bridge Bancorp by 34.8% during the first quarter. California Public Employees Retirement System now owns 24,548 shares of the financial services provider’s stock worth $824,000 after acquiring an additional 6,344 shares in the last quarter. 57.20% of the stock is owned by institutional investors.
Shares of Bridge Bancorp stock opened at $30.70 on Friday. The stock has a market capitalization of $656.87 million, a PE ratio of 19.19 and a beta of 0.79. Bridge Bancorp, Inc. has a one year low of $30.25 and a one year high of $38.00. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.92 and a current ratio of 0.92.
Bridge Bancorp (NASDAQ:BDGE) last issued its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $0.34 EPS for the quarter. The company had revenue of $31.35 million for the quarter. Bridge Bancorp had a return on equity of 7.83% and a net margin of 12.39%.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Friday, October 19th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.00%.
Several research analysts have weighed in on BDGE shares. TheStreet lowered Bridge Bancorp from a “b” rating to a “c+” rating in a report on Thursday, August 9th. BidaskClub upgraded Bridge Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 1st. Finally, Hovde Group lifted their target price on Bridge Bancorp from $37.00 to $38.00 and gave the stock a “market perform” rating in a report on Thursday, July 26th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $39.17.
In other news, CFO John Martin Mccaffery, Jr. purchased 2,000 shares of the business’s stock in a transaction dated Friday, October 5th. The shares were bought at an average cost of $32.29 per share, for a total transaction of $64,580.00. Following the completion of the acquisition, the chief financial officer now directly owns 30,602 shares in the company, valued at approximately $988,138.58. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Basswood Capital Management, L purchased 20,095 shares of the business’s stock in a transaction dated Monday, August 13th. The stock was purchased at an average price of $35.04 per share, for a total transaction of $704,128.80. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 155,872 shares of company stock worth $5,444,001 and sold 31,008 shares worth $1,095,537. Insiders own 13.80% of the company’s stock.
Bridge Bancorp Company Profile
Bridge Bancorp, Inc operates as the bank holding company for the BNB Bank that provide commercial and consumer banking products and services to small businesses, and municipal and consumer relationships. It accepts time, savings, and demand deposits. The company offers commercial real estate, multi-family mortgage, residential mortgage, secured and unsecured commercial and consumer, home equity, and construction loans; and mortgage-backed securities, collateralized mortgage obligations, and other asset backed securities.
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