Bridge Bancorp Inc. (BDGE) Director Dennis A. Suskind Sells 2,000 Shares
Bridge Bancorp Inc. (NASDAQ:BDGE) Director Dennis A. Suskind sold 2,000 shares of Bridge Bancorp stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $29.37, for a total value of $58,740.00. Following the completion of the transaction, the director now directly owns 87,973 shares in the company, valued at $2,583,767.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of Bridge Bancorp Inc. (NASDAQ:BDGE) opened at 28.60 on Thursday. The company has a market capitalization of $490.55 million, a PE ratio of 15.00 and a beta of 0.72. The stock’s 50 day moving average price is $29.70 and its 200-day moving average price is $29.58. Bridge Bancorp Inc. has a 52-week low of $25.74 and a 52-week 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 (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.52. Bridge Bancorp had a return on equity of 10.00% and a net margin of 22.65%. On average, analysts expect that Bridge Bancorp Inc. will post $2.00 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its position 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 valued at $5,268,000 after buying an additional 81,900 shares during the period. BlackRock Fund Advisors boosted its position 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 period. State Street Corp boosted its position 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 period. Alliancebernstein L.P. boosted its position in shares of Bridge Bancorp by 227.5% in the second quarter. Alliancebernstein L.P. now owns 25,481 shares of the financial services provider’s stock valued at $724,000 after buying an additional 17,700 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its position 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 period. 50.68% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have commented on the company. Keefe, Bruyette & Woods dropped their price target on 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. Zacks Investment Research cut Bridge Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, August 1st.
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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