Goldman Sachs Group Inc. Purchases New Position in Bridge Bancorp, Inc. (NASDAQ:BDGE)

Goldman Sachs Group Inc. purchased a new position in shares of Bridge Bancorp, Inc. (NASDAQ:BDGE) during the first quarter, Holdings Channel reports. The institutional investor purchased 33,966 shares of the financial services provider’s stock, valued at approximately $1,189,000.

Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake 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 during the period. Dimensional Fund Advisors LP increased its stake 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 during the period. State Street Corp increased its stake in shares of Bridge Bancorp by 20.4% in the fourth quarter. State Street Corp now owns 304,800 shares of the financial services provider’s stock valued at $11,551,000 after buying an additional 51,688 shares during the period. Renaissance Technologies LLC increased its stake 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 during the period. Finally, Geode Capital Management LLC increased its stake 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 during the period. Institutional investors and hedge funds own 55.94% of the company’s stock.

Bridge Bancorp, Inc. (NASDAQ BDGE) traded down 1.29% during mid-day trading on Friday, hitting $30.50. 13,973 shares of the stock were exchanged. The stock has a 50 day moving average price of $32.84 and a 200 day moving average price of $34.46. The company has a market capitalization of $599.20 million, a PE ratio of 16.12 and a beta of 0.80. Bridge Bancorp, Inc. has a 1-year low of $26.90 and a 1-year high of $38.95.

Bridge Bancorp (NASDAQ:BDGE) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by $0.04. Bridge Bancorp had a return on equity of 9.02% and a net margin of 22.91%. The firm 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 company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, July 21st were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Wednesday, July 19th. Bridge Bancorp’s payout ratio is 47.92%.

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Several analysts have commented on BDGE shares. Zacks Investment Research downgraded shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a report on Friday, July 28th. BidaskClub downgraded shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $37.00 target price on shares of Bridge Bancorp in a report on Thursday.

In other news, major shareholder Basswood Capital Management, L sold 133,878 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $33.67, for a total transaction of $4,507,672.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dennis A. Suskind sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $32.00, for a total value of $48,000.00. Following the transaction, the director now directly owns 79,550 shares in the company, valued at $2,545,600. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 113,234 shares of company stock worth $3,815,829 and have sold 377,398 shares worth $12,758,975. 5.30% of the stock is owned by corporate insiders.

Bridge Bancorp Company 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).

Want to see what other hedge funds are holding BDGE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bridge Bancorp, Inc. (NASDAQ:BDGE).

Institutional Ownership by Quarter for Bridge Bancorp (NASDAQ:BDGE)

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