Bridge Bancorp, Inc. (NASDAQ:BDGE) major shareholder Nathan Lindenbaum purchased 3,126 shares of Bridge Bancorp stock in a transaction dated Friday, May 31st. The shares were purchased at an average cost of $27.75 per share, with a total value of $86,746.50. Following the acquisition, the insider now owns 7,015 shares of the company’s stock, valued at approximately $194,666.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

BDGE stock traded up $0.79 during trading on Tuesday, hitting $28.76. The company had a trading volume of 15,168 shares, compared to its average volume of 28,420. The company has a market capitalization of $570.89 million, a P/E ratio of 10.81 and a beta of 1.08. Bridge Bancorp, Inc. has a fifty-two week low of $24.12 and a fifty-two week high of $38.00. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.97.

Bridge Bancorp (NASDAQ:BDGE) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $39.54 million during the quarter, compared to analyst estimates of $40.10 million. Bridge Bancorp had a return on equity of 10.59% and a net margin of 21.69%. Equities analysts anticipate that Bridge Bancorp, Inc. will post 2.81 EPS for the current year.

Several brokerages have recently issued reports on BDGE. BidaskClub raised shares of Bridge Bancorp from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 27th. Boenning Scattergood reissued a “buy” rating and set a $34.00 price target on shares of Bridge Bancorp in a report on Thursday, April 25th. ValuEngine downgraded shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. TheStreet raised shares of Bridge Bancorp from a “c+” rating to a “b-” rating in a report on Thursday, February 14th. Finally, Zacks Investment Research raised shares of Bridge Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Monday. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $34.33.

A number of hedge funds have recently bought and sold shares of the stock. Basswood Capital Management L.L.C. lifted its holdings in Bridge Bancorp by 2.0% in the fourth quarter. Basswood Capital Management L.L.C. now owns 2,410,626 shares of the financial services provider’s stock worth $61,447,000 after purchasing an additional 47,832 shares during the period. BlackRock Inc. lifted its holdings in Bridge Bancorp by 3.5% in the fourth quarter. BlackRock Inc. now owns 1,061,917 shares of the financial services provider’s stock worth $27,068,000 after purchasing an additional 35,652 shares during the period. Vanguard Group Inc. lifted its holdings in Bridge Bancorp by 0.7% in the third quarter. Vanguard Group Inc. now owns 831,552 shares of the financial services provider’s stock worth $27,608,000 after purchasing an additional 5,767 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Bridge Bancorp by 6.8% in the first quarter. Dimensional Fund Advisors LP now owns 781,045 shares of the financial services provider’s stock worth $22,885,000 after purchasing an additional 49,933 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Bridge Bancorp by 1.6% in the first quarter. Renaissance Technologies LLC now owns 265,900 shares of the financial services provider’s stock worth $7,791,000 after purchasing an additional 4,200 shares during the period. 58.04% of the stock is owned by institutional investors and hedge funds.

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About Bridge Bancorp

Bridge Bancorp, Inc operates as the bank holding company for the BNB Bank that provide commercial and consumer banking products and services to small businesses, and municipal and consumer relationships. It accepts time, savings, and demand deposits. The company offers commercial real estate, multi-family mortgage, residential mortgage, secured and unsecured commercial and consumer, home equity, and construction and land loans; and mortgage-backed securities, collateralized mortgage obligations, and other asset backed securities.

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