Fisher Asset Management LLC purchased a new position in shares of Bridge Bancorp, Inc. (NASDAQ:BDGE) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 23,171 shares of the financial services provider’s stock, valued at approximately $769,000.
A number of other large investors also recently made changes to their positions in BDGE. Commonwealth Equity Services LLC acquired a new stake in Bridge Bancorp during the 2nd quarter worth $205,000. Paloma Partners Management Co acquired a new stake in Bridge Bancorp during the 2nd quarter worth $381,000. Citadel Advisors LLC raised its stake in Bridge Bancorp by 118.0% during the 2nd quarter. Citadel Advisors LLC now owns 20,141 shares of the financial services provider’s stock worth $724,000 after acquiring an additional 10,903 shares in the last quarter. California Public Employees Retirement System raised its stake in Bridge Bancorp by 34.8% during the 1st quarter. California Public Employees Retirement System now owns 24,548 shares of the financial services provider’s stock worth $824,000 after acquiring an additional 6,344 shares in the last quarter. Finally, Mackay Shields LLC raised its stake in Bridge Bancorp by 48.6% during the 2nd quarter. Mackay Shields LLC now owns 23,543 shares of the financial services provider’s stock worth $847,000 after acquiring an additional 7,700 shares in the last quarter. Hedge funds and other institutional investors own 57.16% of the company’s stock.
Several research analysts have issued reports on BDGE shares. BidaskClub downgraded shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. Hovde Group raised their price objective on shares of Bridge Bancorp from $37.00 to $38.00 and gave the stock a “market perform” rating in a research report on Thursday, July 26th. TheStreet downgraded shares of Bridge Bancorp from a “b” rating to a “c+” rating in a research report on Thursday, August 9th. Finally, ValuEngine downgraded shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $39.17.
Bridge Bancorp (NASDAQ:BDGE) last issued its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.17. Bridge Bancorp had a net margin of 10.46% and a return on equity of 8.90%. The company had revenue of $39.13 million for the quarter.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Friday, October 19th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.08%. The ex-dividend date was Thursday, October 18th.
In other Bridge Bancorp news, Director Emanuel Arturi sold 1,612 shares of the firm’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $35.01, for a total transaction of $56,436.12. Following the transaction, the director now directly owns 61,673 shares of the company’s stock, valued at approximately $2,159,171.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin M. O’connor acquired 1,500 shares of the stock in a transaction on Wednesday, August 15th. The shares were acquired at an average cost of $35.05 per share, for a total transaction of $52,575.00. Following the completion of the transaction, the chief executive officer now directly owns 157,925 shares in the company, valued at approximately $5,535,271.25. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 172,852 shares of company stock worth $5,973,170 and have sold 26,008 shares worth $916,687. Company 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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