Citadel Advisors LLC raised its holdings in shares of Bridge Bancorp, Inc. (NASDAQ:BDGE) by 118.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,141 shares of the financial services provider’s stock after acquiring an additional 10,903 shares during the period. Citadel Advisors LLC owned approximately 0.10% of Bridge Bancorp worth $724,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Franklin Resources Inc. lifted its stake in Bridge Bancorp by 20.9% during the 1st quarter. Franklin Resources Inc. now owns 8,456 shares of the financial services provider’s stock valued at $284,000 after acquiring an additional 1,463 shares during the period. Aperio Group LLC lifted its stake in Bridge Bancorp by 21.9% during the 1st quarter. Aperio Group LLC now owns 9,707 shares of the financial services provider’s stock valued at $326,000 after acquiring an additional 1,743 shares during the period. Swiss National Bank lifted its stake in Bridge Bancorp by 7.8% during the 1st quarter. Swiss National Bank now owns 27,500 shares of the financial services provider’s stock valued at $923,000 after acquiring an additional 2,000 shares during the period. Saybrook Capital NC lifted its stake in Bridge Bancorp by 6.3% during the 1st quarter. Saybrook Capital NC now owns 50,727 shares of the financial services provider’s stock valued at $1,702,000 after acquiring an additional 3,000 shares during the period. Finally, GSA Capital Partners LLP lifted its stake in Bridge Bancorp by 48.5% during the 1st quarter. GSA Capital Partners LLP now owns 12,333 shares of the financial services provider’s stock valued at $414,000 after acquiring an additional 4,029 shares during the period. Institutional investors and hedge funds own 57.21% of the company’s stock.
Several analysts have commented on BDGE shares. TheStreet cut shares of Bridge Bancorp from a “b” rating to a “c+” rating in a research note on Thursday, August 9th. Hovde Group boosted their target price on shares of Bridge Bancorp from $37.00 to $38.00 and gave the company a “market perform” rating in a research note on Thursday, July 26th. Finally, BidaskClub upgraded shares of Bridge Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, September 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $39.17.
BDGE opened at $35.25 on Monday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.86. Bridge Bancorp, Inc. has a 1 year low of $30.70 and a 1 year high of $38.00. The firm has a market capitalization of $700.40 million, a P/E ratio of 20.46 and a beta of 0.77.
Bridge Bancorp (NASDAQ:BDGE) last posted its earnings results on Tuesday, July 24th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter. Bridge Bancorp had a net margin of 12.39% and a return on equity of 7.83%. The firm had revenue of $31.35 million during the quarter.
In related news, Director Emanuel Arturi sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $35.77, for a total value of $178,850.00. Following the completion of the transaction, the director now directly owns 63,085 shares in the company, valued at approximately $2,256,550.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Basswood Capital Management, L bought 20,095 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The stock was purchased at an average price of $35.04 per share, with a total value of $704,128.80. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 128,620 shares of company stock valued at $4,560,577 and sold 31,008 shares valued at $1,095,537. Insiders own 13.80% of the company’s stock.
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.
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