Bridge Bancorp, Inc. (BDGE) Shares Sold by Prudential Financial Inc.
Prudential Financial Inc. reduced its stake in Bridge Bancorp, Inc. (NASDAQ:BDGE) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,520 shares of the financial services provider’s stock after selling 270 shares during the period. Prudential Financial Inc. owned 0.21% of Bridge Bancorp worth $1,349,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Bridge Bancorp by 14.1% in the first quarter. Vanguard Group Inc. now owns 782,814 shares of the financial services provider’s stock valued at $27,399,000 after purchasing an additional 97,006 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Bridge Bancorp by 22.3% in the first quarter. Dimensional Fund Advisors LP now owns 310,820 shares of the financial services provider’s stock valued at $10,879,000 after purchasing an additional 56,723 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Bridge Bancorp by 29.2% during the 1st quarter. Renaissance Technologies LLC now owns 184,900 shares of the financial services provider’s stock worth $6,472,000 after buying an additional 41,800 shares during the last quarter. BTIM Corp. acquired a new stake in shares of Bridge Bancorp during the 2nd quarter worth about $5,987,000. Finally, Geode Capital Management LLC lifted its stake in shares of Bridge Bancorp by 3.5% during the 1st quarter. Geode Capital Management LLC now owns 176,852 shares of the financial services provider’s stock worth $6,189,000 after buying an additional 5,963 shares during the last quarter. Hedge funds and other institutional investors own 55.62% of the company’s stock.
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Bridge Bancorp, Inc. (NASDAQ BDGE) opened at 34.50 on Wednesday. The company has a market cap of $668.40 million, a price-to-earnings ratio of 18.05 and a beta of 0.79. Bridge Bancorp, Inc. has a 52 week low of $26.90 and a 52 week high of $38.95. The stock’s 50 day moving average price is $31.65 and its 200-day moving average price is $33.28.
Bridge Bancorp (NASDAQ:BDGE) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $35.30 million for the quarter, compared to analysts’ expectations of $36.10 million. On average, equities research analysts forecast that Bridge Bancorp, Inc. will post $1.92 earnings per share for the current fiscal year.
In related news, Director Dennis A. Suskind sold 1,000 shares of the company’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 value of $32,500.00. Following the transaction, the director now owns 79,550 shares in the company, valued at $2,585,375. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 5.30% of the company’s stock.
BDGE has been the subject of several research analyst reports. BidaskClub downgraded shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. ValuEngine upgraded shares of Bridge Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. Zacks Investment Research upgraded shares of Bridge Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $37.00 price target on shares of Bridge Bancorp in a report on Thursday, August 10th. 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 company’s stock. The company has a consensus 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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