Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Bridge Bancorp, Inc. (NASDAQ:BDGE) by 35.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,539 shares of the financial services provider’s stock after buying an additional 12,000 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Bridge Bancorp were worth $1,516,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. American International Group Inc. raised its position 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 buying an additional 743 shares in the last quarter. Prudential Financial Inc. raised its stake in Bridge Bancorp by 275.3% in the first quarter. Prudential Financial Inc. now owns 40,790 shares of the financial services provider’s stock valued at $1,428,000 after buying an additional 29,920 shares during the period. TD Asset Management Inc. raised its stake in Bridge Bancorp by 7.9% in the first quarter. TD Asset Management Inc. now owns 23,300 shares of the financial services provider’s stock valued at $816,000 after buying an additional 1,700 shares during the period. Bank of New York Mellon Corp raised its stake in Bridge Bancorp by 9.2% in the first quarter. Bank of New York Mellon Corp now owns 124,013 shares of the financial services provider’s stock valued at $4,341,000 after buying an additional 10,464 shares during the period. Finally, Strategic Advisors LLC raised its stake in Bridge Bancorp by 6.4% in the first quarter. Strategic Advisors LLC now owns 9,891 shares of the financial services provider’s stock valued at $346,000 after buying an additional 592 shares during the period. 55.85% of the stock is currently owned by institutional investors and hedge funds.
Shares of Bridge Bancorp, Inc. (NASDAQ BDGE) opened at 32.00 on Friday. Bridge Bancorp, Inc. has a 12-month low of $26.90 and a 12-month high of $38.95. The company’s 50-day moving average price is $33.18 and its 200 day moving average price is $34.63. The firm has a market capitalization of $628.67 million, a price-to-earnings ratio of 16.91 and a beta of 0.80.
Bridge Bancorp (NASDAQ:BDGE) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.04. The business had revenue of $35.30 million during the quarter, compared to analyst estimates of $36.10 million. Bridge Bancorp had a return on equity of 9.02% and a net margin of 22.91%. On average, equities research analysts forecast that Bridge Bancorp, Inc. will post $1.92 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 21st were given a $0.23 dividend. The ex-dividend date was Wednesday, July 19th. This represents a $0.92 annualized dividend and a yield of 2.88%. Bridge Bancorp’s dividend payout ratio (DPR) is 47.92%.
Several analysts recently commented on BDGE shares. Zacks Investment Research lowered Bridge Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. BidaskClub lowered Bridge Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th.
In other Bridge Bancorp news, Director Dennis A. Suskind sold 1,000 shares of Bridge Bancorp stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $32.50, for a total value of $32,500.00. Following the transaction, the director now owns 79,550 shares in the company, valued at $2,585,375. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider James J. Manseau sold 2,045 shares of Bridge Bancorp stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $36.35, for a total transaction of $74,335.75. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 113,234 shares of company stock worth $3,815,829 and sold 379,443 shares worth $12,833,310. Insiders own 5.30% 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’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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