Rhumbline Advisers decreased its holdings in Bridge Bancorp, Inc. (NASDAQ:BDGE) by 15.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,353 shares of the financial services provider’s stock after selling 3,412 shares during the quarter. Rhumbline Advisers owned about 0.09% of Bridge Bancorp worth $642,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in Bridge Bancorp by 7.3% during the fourth quarter. Victory Capital Management Inc. now owns 38,080 shares of the financial services provider’s stock valued at $1,333,000 after buying an additional 2,580 shares during the period. Wells Fargo & Company MN lifted its position in Bridge Bancorp by 52.3% during the third quarter. Wells Fargo & Company MN now owns 21,674 shares of the financial services provider’s stock valued at $736,000 after buying an additional 7,445 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Bridge Bancorp by 5.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 80,269 shares of the financial services provider’s stock valued at $2,726,000 after buying an additional 3,847 shares during the period. GSA Capital Partners LLP purchased a new position in Bridge Bancorp during the third quarter valued at $258,000. Finally, Fisher Asset Management LLC purchased a new position in Bridge Bancorp during the fourth quarter valued at $282,000. 56.37% of the stock is owned by institutional investors and hedge funds.
In other Bridge Bancorp news, major shareholder Basswood Capital Management, L acquired 27,290 shares of Bridge Bancorp stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average cost of $33.52 per share, for a total transaction of $914,760.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jr. Albert E. Mccoy acquired 6,200 shares of Bridge Bancorp stock in a transaction that occurred on Tuesday, February 6th. The stock was acquired at an average price of $33.46 per share, with a total value of $207,452.00. Following the completion of the acquisition, the director now directly owns 107,990 shares in the company, valued at approximately $3,613,345.40. The disclosure for this purchase can be found here. Insiders purchased a total of 46,913 shares of company stock valued at $1,585,459 over the last quarter. 13.80% of the stock is owned by corporate insiders.
Several equities analysts have commented on BDGE shares. Sandler O’Neill set a $39.00 price objective on Bridge Bancorp and gave the company a “buy” rating in a research report on Thursday, February 8th. BidaskClub downgraded Bridge Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, February 27th. Zacks Investment Research downgraded Bridge Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. Keefe, Bruyette & Woods restated a “hold” rating and set a $40.50 price target on shares of Bridge Bancorp in a report on Friday, December 22nd. Finally, ValuEngine downgraded Bridge Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, January 13th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Bridge Bancorp has a consensus rating of “Hold” and a consensus price target of $39.75.
Shares of NASDAQ:BDGE opened at $32.30 on Wednesday. Bridge Bancorp, Inc. has a 1-year low of $29.80 and a 1-year high of $37.95. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.35. The firm has a market cap of $645.83, a PE ratio of 19.21 and a beta of 0.68.
Bridge Bancorp (NASDAQ:BDGE) last issued its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.21). Bridge Bancorp had a net margin of 12.23% and a return on equity of 7.68%. The company had revenue of $38.06 million for the quarter, compared to the consensus estimate of $37.40 million.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 20th will be issued a $0.23 dividend. The ex-dividend date is Thursday, April 19th. This represents a $0.92 annualized dividend and a yield of 2.85%.
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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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