Northern Trust Corp lessened its position in Bridge Bancorp, Inc. (NASDAQ:BDGE) by 7.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 205,054 shares of the financial services provider’s stock after selling 16,318 shares during the period. Northern Trust Corp’s holdings in Bridge Bancorp were worth $7,372,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC bought a new stake in shares of Bridge Bancorp during the 2nd quarter valued at about $205,000. Paloma Partners Management Co bought a new stake in shares of Bridge Bancorp during the 2nd quarter valued at about $381,000. Citadel Advisors LLC boosted its stake in shares of Bridge Bancorp by 118.0% during the 2nd quarter. Citadel Advisors LLC now owns 20,141 shares of the financial services provider’s stock valued at $724,000 after purchasing an additional 10,903 shares in the last quarter. Mackay Shields LLC boosted its stake in shares of Bridge Bancorp by 48.6% during the 2nd quarter. Mackay Shields LLC now owns 23,543 shares of the financial services provider’s stock valued at $847,000 after purchasing an additional 7,700 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of Bridge Bancorp by 11.3% during the 2nd quarter. Swiss National Bank now owns 30,600 shares of the financial services provider’s stock valued at $1,100,000 after purchasing an additional 3,100 shares in the last quarter. 57.13% of the stock is currently owned by institutional investors and hedge funds.
In other Bridge Bancorp news, Director Jr. Albert E. Mccoy acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, October 15th. The shares were acquired at an average price of $30.83 per share, with a total value of $77,075.00. Following the completion of the purchase, the director now directly owns 116,001 shares of the company’s stock, valued at approximately $3,576,310.83. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Basswood Capital Management, L acquired 49,891 shares of the company’s stock in a transaction that occurred on Tuesday, September 11th. The shares were acquired at an average cost of $35.75 per share, for a total transaction of $1,783,603.25. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 151,257 shares of company stock worth $5,216,466 and have sold 16,382 shares worth $579,561. Insiders own 13.80% of the company’s stock.
Shares of BDGE opened at $29.90 on Friday. The stock has a market cap of $597.13 million, a PE ratio of 15.47 and a beta of 0.83. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.91. Bridge Bancorp, Inc. has a 1-year low of $27.74 and a 1-year high of $38.00.
Bridge Bancorp (NASDAQ:BDGE) last announced its earnings results on Tuesday, October 23rd. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.17. The firm had revenue of $39.13 million for the quarter. Bridge Bancorp had a net margin of 10.46% and a return on equity of 8.87%.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Investors of record on Friday, October 19th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Thursday, October 18th.
A number of equities research analysts have recently weighed in on the stock. ValuEngine lowered shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. BidaskClub lowered shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. Hovde Group lifted 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, TheStreet lowered shares of Bridge Bancorp from a “b” rating to a “c+” rating in a research note on Thursday, August 9th. Three 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. The stock has an average rating of “Hold” and an average target price of $39.17.
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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.
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