Wells Fargo & Company MN lowered its position in Bridge Bancorp, Inc. (NASDAQ:BDGE) by 68.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,229 shares of the financial services provider’s stock after selling 30,955 shares during the period. Wells Fargo & Company MN owned about 0.07% of Bridge Bancorp worth $474,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BDGE. Schwab Charles Investment Management Inc. boosted its stake in Bridge Bancorp by 12.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 76,422 shares of the financial services provider’s stock worth $2,545,000 after purchasing an additional 8,418 shares during the period. Franklin Resources Inc. acquired a new position in Bridge Bancorp in the 2nd quarter worth $396,000. BTIM Corp. acquired a new position in Bridge Bancorp in the 2nd quarter worth $5,987,000. Vanguard Group Inc. boosted its stake in Bridge Bancorp by 14.1% in the 1st quarter. Vanguard Group Inc. now owns 782,814 shares of the financial services provider’s stock worth $27,399,000 after purchasing an additional 97,006 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Bridge Bancorp by 22.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 310,820 shares of the financial services provider’s stock worth $10,879,000 after purchasing an additional 56,723 shares during the period. Institutional investors and hedge funds own 55.78% of the company’s stock.
Bridge Bancorp, Inc. (BDGE) opened at $33.75 on Tuesday. Bridge Bancorp, Inc. has a one year low of $29.80 and a one year high of $38.95. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $656.34, a PE ratio of 17.53 and a beta of 0.71.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, October 20th were paid a dividend of $0.23 per share. The ex-dividend date was Thursday, October 19th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.73%. Bridge Bancorp’s dividend payout ratio is 48.42%.
BDGE has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. BidaskClub lowered shares of Bridge Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $37.00 target price on shares of Bridge Bancorp in a research note on Thursday, August 10th. ValuEngine raised shares of Bridge Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. Finally, FIG Partners reaffirmed a “market-perform” rating on shares of Bridge Bancorp in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Bridge Bancorp presently has a consensus rating of “Hold” and a consensus target price of $38.50.
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Bridge Bancorp Profile
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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