Bridge Bancorp, Inc. (BDGE) Major Shareholder Basswood Capital Management, L Acquires 109,633 Shares of Stock
Bridge Bancorp, Inc. (NASDAQ:BDGE) major shareholder Basswood Capital Management, L purchased 109,633 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was bought at an average price of $36.09 per share, with a total value of $3,956,654.97. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Bridge Bancorp, Inc. (BDGE) traded down $0.15 during trading on Friday, hitting $35.80. The stock had a trading volume of 23,942 shares, compared to its average volume of 29,443. The stock has a market cap of $705.62, a PE ratio of 18.92 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92. Bridge Bancorp, Inc. has a 12 month low of $29.80 and a 12 month high of $38.95.
Bridge Bancorp (NASDAQ:BDGE) last released its earnings results on Wednesday, October 25th. The financial services provider reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.03). The business had revenue of $37.32 million for the quarter, compared to analysts’ expectations of $36.50 million. Bridge Bancorp had a net margin of 22.62% and a return on equity of 8.52%. equities analysts forecast that Bridge Bancorp, Inc. will post 1.89 EPS for the current year.
BDGE has been the subject of a number of analyst reports. FIG Partners restated a “market-perform” rating on shares of Bridge Bancorp in a report on Thursday, October 26th. ValuEngine upgraded Bridge Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $37.00 price target on shares of Bridge Bancorp in a report on Thursday, August 10th. Finally, Zacks Investment Research upgraded Bridge Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Bridge Bancorp currently has an average rating of “Hold” and a consensus target price of $38.50.
Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Bridge Bancorp during the 2nd quarter valued at approximately $105,000. Aperio Group LLC purchased a new position in shares of Bridge Bancorp during the 3rd quarter valued at approximately $241,000. GSA Capital Partners LLP purchased a new position in shares of Bridge Bancorp during the 3rd quarter valued at approximately $258,000. Voya Investment Management LLC boosted its stake in shares of Bridge Bancorp by 14.7% during the 2nd quarter. Voya Investment Management LLC now owns 9,766 shares of the financial services provider’s stock valued at $325,000 after buying an additional 1,255 shares during the last quarter. Finally, Strategic Advisors LLC boosted its stake in shares of Bridge Bancorp by 0.5% during the 2nd quarter. Strategic Advisors LLC now owns 9,938 shares of the financial services provider’s stock valued at $331,000 after buying an additional 47 shares during the last quarter. Institutional investors own 56.75% of the company’s stock.
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About Bridge Bancorp
Bridge Bancorp, Inc is a bank holding company for The Bridgehampton National Bank (the Bank). The Bank’s operations include its real estate investment trust subsidiary, Bridgehampton Community, Inc (BCI), a financial title insurance subsidiary, Bridge Abstract LLC (Bridge Abstract), and an investment services subsidiary, Bridge Financial Services LLC (Bridge Financial Services).
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