Emerald Mutual Fund Advisers Trust maintained its position in Bridge Bancorp Inc. (NASDAQ:BDGE) during the second quarter, Holdings Channel reports. The institutional investor owned 225,409 shares of the financial services provider’s stock at the end of the second quarter. Emerald Mutual Fund Advisers Trust’s holdings in Bridge Bancorp were worth $6,402,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Strategic Advisors LLC boosted its stake in shares of Bridge Bancorp by 0.5% in the second quarter. Strategic Advisors LLC now owns 8,491 shares of the financial services provider’s stock valued at $241,000 after buying an additional 41 shares in 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 valued at $381,000 after buying an additional 2,772 shares in the last quarter. Monarch Partners Asset Management LLC boosted its stake in shares of Bridge Bancorp by 23.2% in the second quarter. Monarch Partners Asset Management LLC now owns 17,552 shares of the financial services provider’s stock valued at $498,000 after buying an additional 3,300 shares in 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 valued at $2,511,000 after buying an additional 5,236 shares in the last quarter. 50.68% of the stock is currently owned by institutional investors.
Bridge Bancorp Inc. (NASDAQ:BDGE) traded down 0.66% during mid-day trading on Friday, hitting $28.40. 57,441 shares of the company were exchanged. The stock has a market cap of $487.12 million, a price-to-earnings ratio of 14.89 and a beta of 0.70. Bridge Bancorp Inc. has a 12 month low of $26.23 and a 12 month high of $32.40. The firm has a 50 day moving average price of $29.33 and a 200 day moving average price of $29.55.
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, hitting analysts’ consensus estimates of $0.52. Bridge Bancorp had a return on equity of 10.00% and a net margin of 22.65%. Analysts anticipate that Bridge Bancorp Inc. will post $2.00 EPS for the current fiscal year.
BDGE has been the topic of several research reports. Zacks Investment Research cut shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, August 1st. Keefe, Bruyette & Woods reduced their price target on shares of Bridge Bancorp from $30.00 to $28.00 and set a “market perform” rating on the stock in a research report on Thursday, August 25th.
In related news, major shareholder Basswood Capital Management, L sold 4,320 shares of Bridge Bancorp stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $29.07, for a total transaction of $125,582.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Howard H. Nolan sold 887 shares of Bridge Bancorp stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $30.29, for a total value of $26,867.23. Following the sale, the chief operating officer now owns 54,762 shares of the company’s stock, valued at approximately $1,658,740.98. The disclosure for this sale can be found here. Corporate insiders own 6.00% 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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