First Trust Advisors LP boosted its position in Bridge Bancorp Inc. (NASDAQ:BDGE) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,377 shares of the financial services provider’s stock after buying an additional 278 shares during the period. First Trust Advisors LP owned about 0.13% of Bridge Bancorp worth $636,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Strategic Advisors LLC raised its position in shares of 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 during the period. Swiss National Bank raised its position in shares of Bridge Bancorp by 7.5% in the second quarter. Swiss National Bank now owns 25,900 shares of the financial services provider’s stock worth $736,000 after buying an additional 1,800 shares during the period. Metropolitan Life Insurance Co. NY raised its position in shares of 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 during the period. Monarch Partners Asset Management LLC raised its position in shares of 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 during the period. Finally, California State Teachers Retirement System raised its position in shares of Bridge Bancorp by 11.3% in the second quarter. California State Teachers Retirement System now owns 35,067 shares of the financial services provider’s stock worth $996,000 after buying an additional 3,567 shares during the period. Institutional investors and hedge funds own 50.68% of the company’s stock.
Shares of Bridge Bancorp Inc. (NASDAQ:BDGE) traded up 0.53% on Monday, reaching $28.55. 9,278 shares of the company’s stock traded hands. The firm has a market capitalization of $489.69 million, a price-to-earnings ratio of 14.97 and a beta of 0.70. Bridge Bancorp Inc. has a 52 week low of $26.23 and a 52 week high of $32.40. The company has a 50 day moving average price of $29.28 and a 200 day moving average price of $29.55.
Bridge Bancorp (NASDAQ:BDGE) last posted its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.52 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.52. Bridge Bancorp had a net margin of 22.65% and a return on equity of 10.00%. On average, equities research analysts predict that Bridge Bancorp Inc. will post $2.00 earnings per share for the current fiscal year.
A number of brokerages have recently issued reports on BDGE. Zacks Investment Research upgraded shares of Bridge Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. Keefe, Bruyette & Woods dropped their price target 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, major shareholder Basswood Capital Management, L purchased 2,881 shares of Bridge Bancorp stock in a transaction dated Monday, September 19th. The shares were bought at an average cost of $29.16 per share, for a total transaction of $84,009.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Howard H. Nolan sold 887 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $30.29, for a total transaction of $26,867.23. Following the completion of the transaction, 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. Company insiders own 6.00% of the company’s stock.
About Bridge Bancorp
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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