Insider Selling: Bridge Bancorp, Inc. (NASDAQ:BDGE) Director Sells 1,000 Shares of Stock

Bridge Bancorp, Inc. (NASDAQ:BDGE) Director Dennis A. Suskind sold 1,000 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $32.50, for a total transaction of $32,500.00. Following the completion of the transaction, the director now owns 79,550 shares in the company, valued at $2,585,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Bridge Bancorp, Inc. (NASDAQ BDGE) opened at 30.65 on Friday. Bridge Bancorp, Inc. has a 12-month low of $26.90 and a 12-month high of $38.95. The company has a market cap of $593.81 million, a PE ratio of 16.04 and a beta of 0.80. The stock has a 50 day moving average of $32.57 and a 200-day moving average of $34.23.

Bridge Bancorp (NASDAQ:BDGE) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.45 EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $35.30 million for the quarter, compared to analysts’ expectations of $36.10 million. On average, equities research analysts anticipate that Bridge Bancorp, Inc. will post $1.92 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, July 21st were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Wednesday, July 19th. Bridge Bancorp’s payout ratio is 47.92%.

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BDGE has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $37.00 price objective on shares of Bridge Bancorp in a research note on Thursday, August 10th. Zacks Investment Research upgraded shares of Bridge Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, BidaskClub downgraded shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th.

Several hedge funds and other institutional investors have recently modified their holdings of BDGE. Prudential Financial Inc. raised its position in shares of 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 last quarter. Tokio Marine Asset Management Co. Ltd. purchased a new stake in Bridge Bancorp during the first quarter worth $1,174,000. TD Asset Management Inc. increased 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 worth $816,000 after buying an additional 1,700 shares during the last quarter. Bank of New York Mellon Corp increased 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 worth $4,341,000 after buying an additional 10,464 shares during the last quarter. Finally, Strategic Advisors LLC increased 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 worth $346,000 after buying an additional 592 shares during the last quarter. 55.95% of the stock is owned by institutional investors.

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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