Teachers Advisors LLC boosted its position in shares of Bridge Bancorp, Inc. (NASDAQ:BDGE) by 9.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,167 shares of the financial services provider’s stock after buying an additional 2,968 shares during the period. Teachers Advisors LLC owned approximately 0.17% of Bridge Bancorp worth $1,104,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Bridge Bancorp during the second quarter valued at approximately $105,000. American International Group Inc. boosted its stake in Bridge Bancorp by 7.7% during the first quarter. American International Group Inc. now owns 10,359 shares of the financial services provider’s stock valued at $363,000 after buying an additional 743 shares during the last quarter. Barings LLC bought a new position in Bridge Bancorp during the first quarter valued at approximately $413,000. Franklin Resources Inc. bought a new position in Bridge Bancorp during the second quarter valued at approximately $396,000. Finally, Credit Suisse AG boosted its stake in Bridge Bancorp by 8.4% during the first quarter. Credit Suisse AG now owns 21,563 shares of the financial services provider’s stock valued at $755,000 after buying an additional 1,669 shares during the last quarter. 55.64% of the stock is owned by institutional investors.
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Shares of Bridge Bancorp, Inc. (NASDAQ:BDGE) opened at 35.50 on Wednesday. Bridge Bancorp, Inc. has a 1-year low of $26.90 and a 1-year high of $38.95. The company has a market capitalization of $687.78 million, a price-to-earnings ratio of 18.58 and a beta of 0.79. The stock has a 50 day moving average price of $33.83 and a 200 day moving average price of $33.40.
Bridge Bancorp (NASDAQ:BDGE) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.03). The company had revenue of $37.32 million for the quarter, compared to analyst estimates of $36.50 million. Bridge Bancorp had a return on equity of 8.61% and a net margin of 22.62%. On average, equities analysts anticipate that Bridge Bancorp, Inc. will post $1.92 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, October 20th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Thursday, October 19th. Bridge Bancorp’s dividend payout ratio is currently 48.42%.
Several research firms have recently issued reports on BDGE. FIG Partners reaffirmed a “market-perform” rating on shares of Bridge Bancorp in a research note on Thursday, October 26th. ValuEngine raised Bridge Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. Zacks Investment Research raised Bridge Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. BidaskClub lowered Bridge Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $37.00 price objective on shares of Bridge Bancorp in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Bridge Bancorp has a consensus rating of “Hold” and an average target price of $38.50.
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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