Bridge Bancorp, Inc. (NASDAQ:BDGE) Major Shareholder Basswood Capital Management, L Acquires 9,833 Shares

Bridge Bancorp, Inc. (NASDAQ:BDGE) major shareholder Basswood Capital Management, L acquired 9,833 shares of the company’s stock in a transaction on Tuesday, March 13th. The shares were acquired at an average cost of $35.18 per share, for a total transaction of $345,924.94. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Basswood Capital Management, L also recently made the following trade(s):

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  • On Tuesday, February 13th, Basswood Capital Management, L purchased 3,590 shares of Bridge Bancorp stock. The stock was purchased at an average cost of $32.68 per share, for a total transaction of $117,321.20.
  • On Thursday, February 15th, Basswood Capital Management, L purchased 27,290 shares of Bridge Bancorp stock. The stock was purchased at an average cost of $33.52 per share, for a total transaction of $914,760.80.
  • On Friday, December 22nd, Basswood Capital Management, L purchased 3,862 shares of Bridge Bancorp stock. The stock was purchased at an average cost of $35.61 per share, for a total transaction of $137,525.82.
  • On Friday, December 22nd, Basswood Capital Management, L purchased 3,862 shares of Bridge Bancorp stock. The stock was purchased at an average cost of $35.61 per share, for a total transaction of $137,525.82.

Shares of NASDAQ BDGE opened at $32.90 on Friday. Bridge Bancorp, Inc. has a one year low of $29.80 and a one year high of $37.95. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.35. The company has a market cap of $659.67, a price-to-earnings ratio of 19.62 and a beta of 0.68.

Bridge Bancorp (NASDAQ:BDGE) last issued its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.21). Bridge Bancorp had a net margin of 12.23% and a return on equity of 7.68%. The business had revenue of $38.06 million for the quarter, compared to the consensus estimate of $37.40 million.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 20th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.80%.

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC grew its holdings in shares of Bridge Bancorp by 61.1% in the third quarter. SG Americas Securities LLC now owns 5,057 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 1,917 shares during the last quarter. Aperio Group LLC bought a new position in shares of Bridge Bancorp in the third quarter worth approximately $241,000. GSA Capital Partners LLP bought a new position in shares of Bridge Bancorp in the third quarter worth approximately $258,000. Fisher Asset Management LLC bought a new position in shares of Bridge Bancorp in the fourth quarter worth approximately $282,000. Finally, MetLife Investment Advisors LLC bought a new position in shares of Bridge Bancorp in the fourth quarter worth approximately $310,000. Hedge funds and other institutional investors own 56.37% of the company’s stock.

BDGE has been the topic of several research analyst reports. Keefe, Bruyette & Woods restated a “hold” rating and issued a $40.50 price objective on shares of Bridge Bancorp in a research report on Friday, December 22nd. Sandler O’Neill set a $41.00 price objective on shares of Bridge Bancorp and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. ValuEngine cut shares of Bridge Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, January 13th. BidaskClub cut shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. Finally, Zacks Investment Research cut shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Bridge Bancorp presently has a consensus rating of “Hold” and an average target price of $39.75.

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Bridge Bancorp Company Profile

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 loans; and mortgage-backed securities, collateralized mortgage obligations, and other asset backed securities.

Insider Buying and Selling by Quarter for Bridge Bancorp (NASDAQ:BDGE)

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