First Trust Advisors LP decreased its holdings in Bridge Bancorp, Inc. (NASDAQ:BDGE) by 9.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,635 shares of the financial services provider’s stock after selling 4,505 shares during the period. First Trust Advisors LP owned about 0.23% of Bridge Bancorp worth $1,520,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Citadel Advisors LLC bought a new position in Bridge Bancorp in the first quarter worth approximately $817,000. BTIM Corp. bought a new position in Bridge Bancorp in the second quarter worth approximately $5,987,000. Prudential Financial Inc. raised its stake in Bridge Bancorp by 275.3% in the first quarter. Prudential Financial Inc. now owns 40,790 shares of the financial services provider’s stock worth $1,428,000 after buying an additional 29,920 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Bridge Bancorp by 9.2% in the first quarter. Bank of New York Mellon Corp now owns 124,013 shares of the financial services provider’s stock worth $4,341,000 after buying an additional 10,464 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Bridge Bancorp by 7.4% in the first quarter. Wells Fargo & Company MN now owns 45,184 shares of the financial services provider’s stock worth $1,582,000 after buying an additional 3,101 shares in the last quarter. 55.62% of the stock is owned by institutional investors.
In other Bridge Bancorp news, Director Dennis A. Suskind sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $32.00, for a total value of $48,000.00. Following the completion of the transaction, the director now owns 79,550 shares of the company’s stock, valued at approximately $2,545,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Basswood Capital Management, L purchased 2,369 shares of the firm’s stock in a transaction on Tuesday, June 20th. The stock was acquired at an average cost of $33.10 per share, with a total value of $78,413.90. The disclosure for this purchase can be found here. Insiders sold a total of 3,000 shares of company stock valued at $97,200 in the last three months. 5.30% of the stock is currently owned by corporate insiders.
A number of equities analysts recently commented on BDGE shares. Zacks Investment Research raised shares of Bridge Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. BidaskClub downgraded shares of Bridge Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $37.00 price objective on shares of Bridge Bancorp in a research note on Thursday, August 10th.
Bridge Bancorp, Inc. (BDGE) opened at 31.20 on Friday. The company has a market cap of $604.47 million, a P/E ratio of 16.33 and a beta of 0.81. The company has a 50-day moving average of $31.23 and a 200-day moving average of $33.53. Bridge Bancorp, Inc. has a 52 week low of $26.90 and a 52 week high of $38.95.
Bridge Bancorp (NASDAQ:BDGE) last issued 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). Bridge Bancorp had a net margin of 22.91% and a return on equity of 8.82%. The business had revenue of $35.30 million during the quarter, compared to analysts’ expectations of $36.10 million. On average, equities research analysts predict that Bridge Bancorp, Inc. will post $1.92 EPS for the current year.
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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