Bank of New York Mellon Corp increased its position in shares of Bridge Bancorp Inc. (NASDAQ:BDGE) by 8.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 77,793 shares of the financial services provider’s stock after buying an additional 5,751 shares during the period. Bank of New York Mellon Corp owned 0.45% of Bridge Bancorp worth $2,209,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in BDGE. Monarch Partners Asset Management LLC boosted its stake in Bridge Bancorp by 23.2% in the second quarter. Monarch Partners Asset Management LLC now owns 17,552 shares of the financial services provider’s stock worth $498,000 after buying an additional 3,300 shares in the last quarter. Strategic Advisors LLC boosted its stake in Bridge Bancorp by 0.5% in the second quarter. Strategic Advisors LLC now owns 8,491 shares of the financial services provider’s stock worth $241,000 after buying an additional 41 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Bridge Bancorp by 28.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 12,491 shares of the financial services provider’s stock worth $381,000 after buying an additional 2,772 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Bridge Bancorp by 6.8% in the first quarter. Geode Capital Management LLC now owns 82,440 shares of the financial services provider’s stock worth $2,511,000 after buying an additional 5,236 shares in the last quarter. 50.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Bridge Bancorp Inc. (NASDAQ:BDGE) traded up 0.18% during midday trading on Wednesday, reaching $28.58. 21,424 shares of the company’s stock traded hands. The company has a market capitalization of $490.20 million, a PE ratio of 14.99 and a beta of 0.70. The stock’s 50 day moving average is $29.42 and its 200-day moving average is $29.57. Bridge Bancorp Inc. has a 52 week low of $26.23 and a 52 week high of $32.40.
Bridge Bancorp (NASDAQ:BDGE) last announced its earnings results on Thursday, July 28th. The financial services provider reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. Bridge Bancorp had a return on equity of 10.00% and a net margin of 22.65%. On average, analysts forecast that Bridge Bancorp Inc. will post $2.00 earnings per share for the current fiscal year.
A number of research firms recently issued reports on BDGE. Zacks Investment Research raised shares of Bridge Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, September 28th. Keefe, Bruyette & Woods lowered their target price on shares of Bridge Bancorp from $30.00 to $28.00 and set a “market perform” rating on the stock in a research note on Thursday, August 25th.
In other Bridge Bancorp news, Director Dennis A. Suskind sold 1,900 shares of Bridge Bancorp stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $30.19, for a total transaction of $57,361.00. Following the sale, the director now directly owns 89,273 shares in the company, valued at approximately $2,695,151.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Howard H. Nolan sold 887 shares of Bridge Bancorp stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $30.29, for a total value of $26,867.23. Following the sale, the chief operating officer now owns 54,762 shares in the company, valued at $1,658,740.98. The disclosure for this sale can be found here. Corporate insiders own 6.00% 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 engages in commercial and consumer banking business, including accepting time, savings and demand deposits from the consumers, businesses and local municipalities surrounding its branch offices. These deposits, together with funds generated from operations and borrowings, are invested primarily in commercial real estate loans; multi-family mortgage loans; home equity loans; construction loans; residential mortgage loans; secured and unsecured commercial and consumer loans; Federal Home Loan Bank (FHLB), Federal National Mortgage Association (FNMA), Government National Mortgage Association (GNMA) and Federal Home Loan Mortgage Corporation (FHLMC) and non-agency mortgage-backed securities, collateralized mortgage obligations and other asset backed securities; New York State and local municipal obligations, and the United States government sponsored entity (U.S.
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