Wellington Management Group LLP cut its position in shares of Bridge Bancorp, Inc. (NASDAQ:BDGE) by 15.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 247,230 shares of the financial services provider’s stock after selling 46,452 shares during the period. Wellington Management Group LLP owned approximately 1.27% of Bridge Bancorp worth $8,653,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. State Street Corp raised its position in shares of Bridge Bancorp by 20.4% in the fourth quarter. State Street Corp now owns 304,800 shares of the financial services provider’s stock worth $11,551,000 after buying an additional 51,688 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Bridge Bancorp by 19.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 254,097 shares of the financial services provider’s stock worth $9,630,000 after buying an additional 41,451 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. purchased a new position in shares of Bridge Bancorp during the first quarter worth approximately $1,174,000. 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 valued at $1,428,000 after buying an additional 29,920 shares during the period. Finally, Highbridge Capital Management LLC bought a new stake in Bridge Bancorp during the fourth quarter valued at about $554,000. Institutional investors and hedge funds own 54.94% of the company’s stock.
Bridge Bancorp, Inc. (BDGE) traded up 1.42% during trading on Friday, reaching $32.05. The company’s stock had a trading volume of 48,970 shares. The stock has a 50-day moving average price of $33.32 and a 200 day moving average price of $34.73. Bridge Bancorp, Inc. has a 52-week low of $26.90 and a 52-week high of $38.95. The company has a market cap of $629.65 million, a PE ratio of 16.94 and a beta of 0.80.
Bridge Bancorp (NASDAQ:BDGE) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.04. The firm had revenue of $35.30 million for the quarter, compared to analysts’ expectations of $36.10 million. Bridge Bancorp had a net margin of 22.91% and a return on equity of 9.02%. On average, analysts expect that Bridge Bancorp, Inc. will post $1.98 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 21st were given a $0.23 dividend. The ex-dividend date was Wednesday, July 19th. This represents a $0.92 annualized dividend and a yield of 2.87%. Bridge Bancorp’s dividend payout ratio is currently 47.92%.
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Several analysts have recently issued reports on BDGE shares. Zacks Investment Research lowered Bridge Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $37.00 target price on shares of Bridge Bancorp in a report on Wednesday, April 5th. Finally, BidaskClub lowered Bridge Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th.
In related news, major shareholder Basswood Capital Management, L purchased 2,369 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The stock was purchased at an average price of $33.10 per share, with a total value of $78,413.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dennis A. Suskind sold 1,500 shares of Bridge Bancorp stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $32.00, for a total transaction of $48,000.00. Following the sale, the director now directly owns 79,550 shares of the company’s stock, valued at approximately $2,545,600. The disclosure for this sale can be found here. In the last quarter, insiders purchased 113,234 shares of company stock valued at $3,815,829 and sold 380,443 shares valued at $12,873,370. Company insiders own 5.30% of the company’s stock.
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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