Janney Montgomery Scott LLC maintained its position in shares of Bridge Bancorp, Inc. (NASDAQ:BDGE) during the second quarter, Holdings Channel reports. The institutional investor owned 16,633 shares of the financial services provider’s stock at the end of the second quarter. Janney Montgomery Scott LLC’s holdings in Bridge Bancorp were worth $554,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Bridge Bancorp by 14.1% in 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. Dimensional Fund Advisors LP boosted its position in shares of Bridge Bancorp by 22.3% in 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. Renaissance Technologies LLC boosted its position in shares of Bridge Bancorp by 29.2% in the first quarter. Renaissance Technologies LLC now owns 184,900 shares of the financial services provider’s stock valued at $6,472,000 after buying an additional 41,800 shares in the last quarter. BTIM Corp. acquired a new position in shares of Bridge Bancorp during the second quarter valued at approximately $5,987,000. Finally, Geode Capital Management LLC boosted its position in shares of Bridge Bancorp by 3.5% in 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. 55.95% of the stock is currently owned by institutional investors.
Bridge Bancorp, Inc. (NASDAQ BDGE) opened at 30.65 on Friday. Bridge Bancorp, Inc. has a 52 week low of $26.90 and a 52 week high of $38.95. The company has a 50-day moving average of $32.57 and a 200-day moving average of $34.23. The company has a market capitalization of $593.81 million, a PE ratio of 16.04 and a beta of 0.80.
Bridge Bancorp (NASDAQ:BDGE) last posted its 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. The firm had revenue of $35.30 million for the quarter, compared to the consensus estimate of $36.10 million. Bridge Bancorp had a return on equity of 8.82% and a net margin of 22.91%. On average, equities research analysts anticipate that Bridge Bancorp, Inc. will post $1.92 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 21st were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date was Wednesday, July 19th. Bridge Bancorp’s dividend payout ratio (DPR) is presently 47.92%.
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BDGE has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $37.00 price objective on shares of Bridge Bancorp in a research note on Thursday, August 10th. Finally, BidaskClub cut shares of Bridge Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st.
In related news, Director Dennis A. Suskind sold 1,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 79,550 shares of the company’s stock, valued at approximately $2,585,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Basswood Capital Management, L bought 106,670 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were purchased at an average cost of $33.68 per share, for a total transaction of $3,592,645.60. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 113,234 shares of company stock worth $3,815,829 and have sold 374,232 shares worth $12,648,705. Corporate 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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