Moors & Cabot Inc. acquired a new position in Bridge Bancorp, Inc. (NASDAQ:BDGE) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,335 shares of the financial services provider’s stock, valued at approximately $345,000. Moors & Cabot Inc. owned 0.05% of Bridge Bancorp at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Bridge Bancorp in the second quarter worth $105,000. Voya Investment Management LLC increased its stake in shares of Bridge Bancorp by 14.7% in the second quarter. Voya Investment Management LLC now owns 9,766 shares of the financial services provider’s stock worth $325,000 after acquiring an additional 1,255 shares during the period. Strategic Advisors LLC increased its stake in shares of Bridge Bancorp by 0.5% in the second quarter. Strategic Advisors LLC now owns 9,938 shares of the financial services provider’s stock worth $331,000 after acquiring an additional 47 shares during the period. American International Group Inc. increased its stake in shares of Bridge Bancorp by 7.7% in the first quarter. American International Group Inc. now owns 10,359 shares of the financial services provider’s stock worth $363,000 after acquiring an additional 743 shares during the period. Finally, Franklin Resources Inc. acquired a new stake in shares of Bridge Bancorp in the second quarter worth $396,000. Hedge funds and other institutional investors own 55.62% of the company’s stock.
In other news, Director Dennis A. Suskind sold 1,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $32.50, for a total transaction of $32,500.00. Following the transaction, the director now directly owns 79,550 shares of the company’s stock, valued at approximately $2,585,375. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.30% of the company’s stock.
A number of analysts have recently weighed in on BDGE shares. BidaskClub lowered shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research downgraded shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $37.00 price target on shares of Bridge Bancorp in a report on Thursday, August 10th. Finally, ValuEngine raised shares of Bridge Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Bridge Bancorp has an average rating of “Hold” and an average price target of $38.50.
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Bridge Bancorp, Inc. (NASDAQ BDGE) traded down 0.14% during trading on Thursday, reaching $34.60. 2,257 shares of the company’s stock traded hands. Bridge Bancorp, Inc. has a one year low of $26.90 and a one year high of $38.95. The firm’s 50 day moving average price is $32.25 and its 200-day moving average price is $33.30. The stock has a market cap of $670.34 million, a P/E ratio of 18.11 and a beta of 0.79.
Bridge Bancorp (NASDAQ:BDGE) last posted its quarterly earnings results 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). Bridge Bancorp had a return on equity of 8.82% and a net margin of 22.91%. The company had revenue of $35.30 million for the quarter, compared to analyst estimates of $36.10 million. On average, equities analysts anticipate that Bridge Bancorp, Inc. will post $1.92 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 20th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, October 19th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.66%. Bridge Bancorp’s dividend payout ratio (DPR) is presently 47.92%.
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).
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