Morgan Stanley trimmed its holdings in shares of Bridge Bancorp, Inc. (NASDAQ:BDGE) by 18.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 260,149 shares of the financial services provider’s stock after selling 57,468 shares during the quarter. Morgan Stanley owned 1.31% of Bridge Bancorp worth $8,637,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in BDGE. FNY Investment Advisers LLC purchased a new stake in shares of Bridge Bancorp during the 3rd quarter valued at about $204,000. Franklin Resources Inc. purchased a new stake in shares of Bridge Bancorp during the 3rd quarter valued at about $270,000. Alpine Woods Capital Investors LLC raised its position in shares of Bridge Bancorp by 55.5% during the 3rd quarter. Alpine Woods Capital Investors LLC now owns 12,613 shares of the financial services provider’s stock valued at $419,000 after buying an additional 4,500 shares in the last quarter. MetLife Investment Advisors LLC raised its position in shares of Bridge Bancorp by 54.8% during the 3rd quarter. MetLife Investment Advisors LLC now owns 13,730 shares of the financial services provider’s stock valued at $456,000 after buying an additional 4,860 shares in the last quarter. Finally, GSA Capital Partners LLP raised its position in shares of Bridge Bancorp by 44.7% during the 3rd quarter. GSA Capital Partners LLP now owns 15,630 shares of the financial services provider’s stock valued at $519,000 after buying an additional 4,832 shares in the last quarter. Hedge funds and other institutional investors own 58.25% of the company’s stock.
Several equities analysts recently commented on the stock. ValuEngine downgraded shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. BidaskClub downgraded shares of Bridge Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 24th.
Shares of NASDAQ:BDGE opened at $31.87 on Tuesday. The stock has a market cap of $627.15 million, a P/E ratio of 13.39 and a beta of 1.06. Bridge Bancorp, Inc. has a 12 month low of $24.12 and a 12 month high of $38.00. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.91 and a current ratio of 0.91.
Bridge Bancorp (NASDAQ:BDGE) last issued its quarterly earnings results on Monday, January 28th. The financial services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.67 by $0.03. The company had revenue of $39.21 million for the quarter. Bridge Bancorp had a net margin of 21.73% and a return on equity of 10.68%.
The company also recently declared a quarterly dividend, which was paid on Monday, January 28th. Investors of record on Monday, January 21st were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, January 17th. This represents a $0.92 annualized dividend and a yield of 2.89%.
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About Bridge Bancorp
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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