Bridge Bancorp Inc. (NASDAQ:BDGE) major shareholder Basswood Capital Management, L sold 4,320 shares of the business’s stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $29.07, for a total value of $125,582.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Basswood Capital Management, L also recently made the following trade(s):
- On Monday, September 19th, Basswood Capital Management, L purchased 2,881 shares of Bridge Bancorp stock. The stock was acquired at an average price of $29.16 per share, with a total value of $84,009.96.
Shares of Bridge Bancorp Inc. (NASDAQ:BDGE) opened at 28.60 on Thursday. The firm has a market capitalization of $490.55 million, a P/E ratio of 15.00 and a beta of 0.72. Bridge Bancorp Inc. has a 12-month low of $25.74 and a 12-month high of $32.40. The stock’s 50 day moving average price is $29.70 and its 200-day moving average price is $29.58.
Bridge Bancorp (NASDAQ:BDGE) last posted its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.52 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.52. Bridge Bancorp had a net margin of 22.65% and a return on equity of 10.00%. On average, equities analysts expect that Bridge Bancorp Inc. will post $2.00 EPS for the current year.
BDGE has been the subject of several analyst reports. Zacks Investment Research upgraded Bridge Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, June 29th. Keefe, Bruyette & Woods dropped their price objective on Bridge Bancorp from $30.00 to $28.00 and set a “market perform” rating for the company in a report on Thursday, August 25th.
Several hedge funds and other institutional investors have recently bought and sold shares of BDGE. BlackRock Group LTD acquired a new stake in shares of Bridge Bancorp during the first quarter worth $117,000. State Street Corp boosted its stake in shares of Bridge Bancorp by 4.4% in the first quarter. State Street Corp now owns 203,882 shares of the financial services provider’s stock worth $6,212,000 after buying an additional 8,505 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of Bridge Bancorp by 28.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 12,491 shares of the financial services provider’s stock worth $381,000 after buying an additional 2,772 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Bridge Bancorp by 90.0% in the first quarter. Renaissance Technologies LLC now owns 172,900 shares of the financial services provider’s stock worth $5,268,000 after buying an additional 81,900 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Bridge Bancorp by 6.8% in the first quarter. Geode Capital Management LLC now owns 82,440 shares of the financial services provider’s stock worth $2,511,000 after buying an additional 5,236 shares during the last quarter. Institutional investors and hedge funds own 50.68% of the company’s stock.
About Bridge Bancorp
Bridge Bancorp, Inc is a bank holding company for The Bridgehampton National Bank (the Bank). The Bank engages in commercial and consumer banking business, including accepting time, savings and demand deposits from the consumers, businesses and local municipalities surrounding its branch offices. These deposits, together with funds generated from operations and borrowings, are invested primarily in commercial real estate loans; multi-family mortgage loans; home equity loans; construction loans; residential mortgage loans; secured and unsecured commercial and consumer loans; Federal Home Loan Bank (FHLB), Federal National Mortgage Association (FNMA), Government National Mortgage Association (GNMA) and Federal Home Loan Mortgage Corporation (FHLMC) and non-agency mortgage-backed securities, collateralized mortgage obligations and other asset backed securities; New York State and local municipal obligations, and the United States government sponsored entity (U.S.
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