Insider Buying: Bridge Bancorp, Inc. (BDGE) Major Shareholder Purchases $3,956,654.97 in Stock

Bridge Bancorp, Inc. (NASDAQ:BDGE) major shareholder Basswood Capital Management, L bought 109,633 shares of the stock in a transaction on Thursday, November 30th. The shares were acquired at an average price of $36.09 per share, with a total value of $3,956,654.97. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Bridge Bancorp, Inc. (NASDAQ:BDGE) opened at $35.80 on Monday. The stock has a market cap of $705.62, a PE ratio of 18.84 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.92. Bridge Bancorp, Inc. has a 12-month low of $29.80 and a 12-month high of $38.95.

Bridge Bancorp (NASDAQ:BDGE) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.03). The company had revenue of $37.32 million during the quarter, compared to the consensus estimate of $36.50 million. Bridge Bancorp had a net margin of 22.62% and a return on equity of 8.52%. equities analysts forecast that Bridge Bancorp, Inc. will post 1.89 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of BDGE. Teachers Advisors LLC lifted its holdings in Bridge Bancorp by 4.6% in the 1st quarter. Teachers Advisors LLC now owns 30,199 shares of the financial services provider’s stock valued at $1,057,000 after acquiring an additional 1,337 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in Bridge Bancorp by 4.5% during the first quarter. TIAA CREF Investment Management LLC now owns 55,707 shares of the financial services provider’s stock valued at $1,950,000 after buying an additional 2,421 shares in the last quarter. Vanguard Group Inc. lifted its stake in Bridge Bancorp by 14.1% during the first quarter. Vanguard Group Inc. now owns 782,814 shares of the financial services provider’s stock valued at $27,399,000 after buying an additional 97,006 shares in the last quarter. Geode Capital Management LLC lifted its stake in Bridge Bancorp by 3.5% during the first quarter. Geode Capital Management LLC now owns 176,852 shares of the financial services provider’s stock valued at $6,189,000 after buying an additional 5,963 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Bridge Bancorp by 22.3% during the first quarter. Dimensional Fund Advisors LP now owns 310,820 shares of the financial services provider’s stock valued at $10,879,000 after buying an additional 56,723 shares in the last quarter. 56.75% of the stock is owned by institutional investors.

Several research firms have weighed in on BDGE. FIG Partners reiterated a “market-perform” rating on shares of Bridge Bancorp in a research note on Thursday, October 26th. Keefe, Bruyette & Woods restated a “hold” rating and set a $37.00 price target on shares of Bridge Bancorp in a research report on Thursday, August 10th. ValuEngine upgraded shares of Bridge Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, September 27th. Finally, Zacks Investment Research upgraded shares of Bridge Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $38.50.

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About Bridge Bancorp

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).

Insider Buying and Selling by Quarter for Bridge Bancorp (NASDAQ:BDGE)

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