Bridge Bancorp, Inc. (BDGE) Position Maintained by Ulysses Management LLC
Ulysses Management LLC maintained its position in Bridge Bancorp, Inc. (NASDAQ:BDGE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 378,805 shares of the financial services provider’s stock at the close of the second quarter. Bridge Bancorp accounts for 1.6% of Ulysses Management LLC’s investment portfolio, making the stock its 10th biggest holding. Ulysses Management LLC owned about 1.93% of Bridge Bancorp worth $12,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in BDGE. Citadel Advisors LLC purchased a new stake in shares of Bridge Bancorp during the first quarter worth approximately $817,000. BTIM Corp. acquired a new stake in shares of Bridge Bancorp during the second quarter worth $5,987,000. Prudential Financial Inc. grew its position in Bridge Bancorp by 275.3% in the 1st quarter. Prudential Financial Inc. now owns 40,790 shares of the financial services provider’s stock valued at $1,428,000 after buying an additional 29,920 shares during the last quarter. Bank of New York Mellon Corp grew its position in Bridge Bancorp by 9.2% in the 1st quarter. Bank of New York Mellon Corp now owns 124,013 shares of the financial services provider’s stock valued at $4,341,000 after buying an additional 10,464 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Bridge Bancorp by 7.4% in the 1st quarter. Wells Fargo & Company MN now owns 45,184 shares of the financial services provider’s stock valued at $1,582,000 after buying an additional 3,101 shares during the last quarter. 55.62% of the stock is currently owned by institutional investors and hedge funds.
Shares of Bridge Bancorp, Inc. (NASDAQ BDGE) traded down 0.87% during midday trading on Tuesday, reaching $34.15. The company’s stock had a trading volume of 8,643 shares. The company has a market capitalization of $661.62 million, a P/E ratio of 17.87 and a beta of 0.78. Bridge Bancorp, Inc. has a 1-year low of $26.90 and a 1-year high of $38.95. The stock has a 50 day moving average of $31.56 and a 200-day moving average of $33.29.
Bridge Bancorp (NASDAQ:BDGE) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.04). Bridge Bancorp had a return on equity of 8.82% and a net margin of 22.91%. The firm had revenue of $35.30 million during the quarter, compared to the consensus estimate of $36.10 million. On average, equities research analysts anticipate that Bridge Bancorp, Inc. will post $1.92 earnings per share for the current year.
In other news, Director Dennis A. Suskind sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $32.50, for a total transaction of $32,500.00. Following the completion of the transaction, the director now directly owns 79,550 shares in the company, valued at $2,585,375. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.30% of the company’s stock.
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BDGE has been the topic of several recent research reports. BidaskClub cut shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research upgraded shares of Bridge Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $37.00 target price on shares of Bridge Bancorp in a research note on Thursday, August 10th. Finally, ValuEngine upgraded shares of Bridge Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Bridge Bancorp currently has an average rating of “Hold” and an average target price of $39.00.
Bridge Bancorp Company Profile
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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