Bridge Bancorp Inc. (NASDAQ:BDGE) declared a quarterly dividend on Monday, October 10th. Shareholders of record on Friday, October 21st will be given a dividend of 0.23 per share by the financial services provider on Friday, October 28th. This represents a $0.92 annualized dividend and a yield of 3.28%. The ex-dividend date is Wednesday, October 19th.
Bridge Bancorp (NASDAQ:BDGE) opened at 28.04 on Friday. The firm has a 50-day moving average of $29.06 and a 200 day moving average of $29.51. The stock has a market capitalization of $480.94 million, a price-to-earnings ratio of 14.70 and a beta of 0.70. Bridge Bancorp has a 12-month low of $26.23 and a 12-month high of $32.40.
Bridge Bancorp (NASDAQ:BDGE) last posted its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.52 earnings per share for the quarter, hitting 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, analysts predict that Bridge Bancorp will post $2.00 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Bridge Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, June 29th. Keefe, Bruyette & Woods lowered their price objective on shares of Bridge Bancorp from $30.00 to $28.00 and set a “market perform” rating for the company in a research report on Thursday, August 25th.
In other news, COO Howard H. Nolan sold 887 shares of Bridge Bancorp stock in a transaction dated Thursday, August 18th. The shares were 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 $1,658,740.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Dennis A. Suskind sold 1,900 shares of Bridge Bancorp stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $30.19, for a total transaction of $57,361.00. Following the completion of the sale, the director now directly owns 89,273 shares in the company, valued at approximately $2,695,151.87. The disclosure for this sale can be found here. Company insiders own 6.00% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Bridge Bancorp by 2.4% in the second quarter. Vanguard Group Inc. now owns 498,217 shares of the financial services provider’s stock valued at $14,150,000 after buying an additional 11,485 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Bridge Bancorp by 14.1% in the second quarter. BlackRock Fund Advisors now owns 431,570 shares of the financial services provider’s stock valued at $12,257,000 after buying an additional 53,273 shares during the last quarter. State Street Corp increased its stake in shares of Bridge Bancorp by 17.0% in the second quarter. State Street Corp now owns 238,550 shares of the financial services provider’s stock valued at $6,777,000 after buying an additional 34,668 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Bridge Bancorp by 10.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 187,870 shares of the financial services provider’s stock valued at $5,336,000 after buying an additional 17,107 shares during the last quarter. Finally, BlackRock Investment Management LLC increased its stake in shares of Bridge Bancorp by 25.5% in the second quarter. BlackRock Investment Management LLC now owns 71,512 shares of the financial services provider’s stock valued at $2,031,000 after buying an additional 14,542 shares during the last quarter. 50.68% of the stock is currently owned by institutional investors and hedge funds.
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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