California State Teachers Retirement System raised its position in shares of Bridge Bancorp Inc. (NASDAQ:BDGE) by 11.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,067 shares of the financial services provider’s stock after buying an additional 3,567 shares during the period. California State Teachers Retirement System owned about 0.20% of Bridge Bancorp worth $996,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in Bridge Bancorp by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 77,793 shares of the financial services provider’s stock valued at $2,209,000 after buying an additional 5,751 shares during the last quarter. Monarch Partners Asset Management LLC raised its stake in 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 during the last quarter. Strategic Advisors LLC raised its stake in 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 during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in 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 during the last quarter. Finally, Geode Capital Management LLC raised its stake in 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 during the last quarter. Institutional investors and hedge funds own 50.68% of the company’s stock.
Shares of Bridge Bancorp Inc. (NASDAQ:BDGE) traded up 0.91% during trading on Tuesday, hitting $28.89. 86,190 shares of the company were exchanged. The stock has a market capitalization of $495.52 million, a PE ratio of 15.15 and a beta of 0.72. The company has a 50 day moving average of $29.64 and a 200-day moving average of $29.59. Bridge Bancorp Inc. has a 1-year low of $25.74 and a 1-year high of $32.40.
Bridge Bancorp (NASDAQ:BDGE) last announced its quarterly earnings results 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%. On average, analysts forecast that Bridge Bancorp Inc. will post $2.00 earnings per share for the current year.
Several analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Bridge Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. Keefe, Bruyette & Woods reduced their target price on shares of Bridge Bancorp from $30.00 to $28.00 and set a “market perform” rating for the company in a research note on Thursday, August 25th.
In other Bridge Bancorp news, COO Howard H. Nolan sold 887 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $30.29, for a total transaction of $26,867.23. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Basswood Capital Management, L acquired 2,881 shares of the stock in a transaction on Monday, September 19th. The shares were purchased at an average cost of $29.16 per share, with a total value of $84,009.96. The disclosure for this purchase can be found here. 6.00% of the stock is owned by corporate insiders.
Bridge Bancorp Company Profile
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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