Bridge Bancorp, Inc. (BDGE) Shares Bought by Daruma Capital Management LLC
Daruma Capital Management LLC lifted its stake in shares of Bridge Bancorp, Inc. (NASDAQ:BDGE) by 24.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,516 shares of the financial services provider’s stock after buying an additional 8,435 shares during the quarter. Daruma Capital Management LLC owned about 0.22% of Bridge Bancorp worth $1,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Citadel Advisors LLC purchased a new position in shares of Bridge Bancorp during the first quarter valued at about $817,000. BTIM Corp. purchased a new position in shares of Bridge Bancorp during the second quarter valued at about $5,987,000. Franklin Resources Inc. purchased a new position in shares of Bridge Bancorp during the second quarter valued at about $396,000. Prudential Financial Inc. increased its position in shares of Bridge Bancorp by 275.3% during the first 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 period. Finally, Bank of New York Mellon Corp increased its position in shares of Bridge Bancorp by 9.2% during the first 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 period. Institutional investors own 55.62% of the company’s stock.
In related news, Director Dennis A. Suskind sold 1,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $32.50, for a total value of $32,500.00. Following the transaction, the director now owns 79,550 shares of the company’s stock, valued at approximately $2,585,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.30% of the company’s stock.
Bridge Bancorp, Inc. (BDGE) traded down 0.43% during midday trading on Friday, reaching $34.35. 25,684 shares of the company traded hands. The company has a 50 day moving average price of $31.91 and a 200-day moving average price of $33.29. Bridge Bancorp, Inc. has a one year low of $26.90 and a one year high of $38.95. The stock has a market capitalization of $665.50 million, a P/E ratio of 17.97 and a beta of 0.79.
Bridge Bancorp (NASDAQ:BDGE) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.04). The company had revenue of $35.30 million during the quarter, compared to analysts’ expectations of $36.10 million. Bridge Bancorp had a return on equity of 8.82% and a net margin of 22.91%. Analysts forecast that Bridge Bancorp, Inc. will post $1.92 EPS for the current fiscal year.
Several equities analysts recently issued reports on BDGE shares. Zacks Investment Research cut shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. BidaskClub cut shares of Bridge Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $37.00 price target on shares of Bridge Bancorp in a research report on Thursday, August 10th. Finally, ValuEngine upgraded shares of Bridge Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $38.50.
Bridge Bancorp 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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