Insider Buying: Bridge Bancorp, Inc. (NASDAQ:BDGE) Insider Buys 13,784 Shares of Stock

Bridge Bancorp, Inc. (NASDAQ:BDGE) insider Basswood Capital Management, L purchased 13,784 shares of the company’s stock in a transaction on Tuesday, October 16th. The shares were purchased at an average price of $31.19 per share, with a total value of $429,922.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Basswood Capital Management, L also recently made the following trade(s):

  • On Thursday, October 11th, Basswood Capital Management, L purchased 579 shares of Bridge Bancorp stock. The shares were purchased at an average price of $31.89 per share, with a total value of $18,464.31.
  • On Tuesday, October 2nd, Basswood Capital Management, L purchased 945 shares of Bridge Bancorp stock. The shares were purchased at an average price of $32.09 per share, with a total value of $30,325.05.
  • On Thursday, October 4th, Basswood Capital Management, L purchased 24,307 shares of Bridge Bancorp stock. The shares were purchased at an average price of $32.44 per share, with a total value of $788,519.08.
  • On Thursday, September 13th, Basswood Capital Management, L bought 41,303 shares of Bridge Bancorp stock. The stock was bought at an average cost of $35.35 per share, with a total value of $1,460,061.05.
  • On Tuesday, September 11th, Basswood Capital Management, L bought 49,891 shares of Bridge Bancorp stock. The stock was bought at an average cost of $35.75 per share, with a total value of $1,783,603.25.
  • On Thursday, September 6th, Basswood Capital Management, L bought 14,831 shares of Bridge Bancorp stock. The stock was bought at an average cost of $35.45 per share, with a total value of $525,758.95.
  • On Monday, August 13th, Basswood Capital Management, L bought 20,095 shares of Bridge Bancorp stock. The stock was bought at an average cost of $35.04 per share, with a total value of $704,128.80.

NASDAQ:BDGE traded down $0.41 during trading hours on Friday, reaching $30.12. 34,130 shares of the stock were exchanged, compared to its average volume of 38,427. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.86. Bridge Bancorp, Inc. has a 52 week low of $27.74 and a 52 week high of $38.00. The company has a market cap of $591.78 million, a PE ratio of 15.34 and a beta of 0.83.

Bridge Bancorp (NASDAQ:BDGE) last released its earnings results on Tuesday, October 23rd. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.17. The company had revenue of $39.13 million for the quarter. Bridge Bancorp had a return on equity of 8.90% and a net margin of 10.46%.

The business also recently declared a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Friday, October 19th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend was Thursday, October 18th.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC acquired a new stake in Bridge Bancorp in the 2nd quarter valued at approximately $205,000. FNY Investment Advisers LLC acquired a new position in shares of Bridge Bancorp during the 3rd quarter valued at $204,000. Franklin Resources Inc. increased its position in shares of Bridge Bancorp by 20.9% during the 1st quarter. Franklin Resources Inc. now owns 8,456 shares of the financial services provider’s stock valued at $284,000 after purchasing an additional 1,463 shares during the period. Paloma Partners Management Co acquired a new position in shares of Bridge Bancorp during the 2nd quarter valued at $381,000. Finally, GSA Capital Partners LLP increased its position in shares of Bridge Bancorp by 48.5% during the 1st quarter. GSA Capital Partners LLP now owns 12,333 shares of the financial services provider’s stock valued at $414,000 after purchasing an additional 4,029 shares during the period. Hedge funds and other institutional investors own 57.20% of the company’s stock.

BDGE has been the subject of several analyst reports. BidaskClub raised Bridge Bancorp from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 13th. TheStreet downgraded Bridge Bancorp from a “b” rating to a “c+” rating in a research report on Thursday, August 9th. Hovde Group upped their target price on Bridge Bancorp from $37.00 to $38.00 and gave the stock a “market perform” rating in a research report on Thursday, July 26th. Finally, ValuEngine downgraded Bridge Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $39.17.

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About Bridge Bancorp

Bridge Bancorp, Inc operates as the bank holding company for the BNB Bank that provide commercial and consumer banking products and services to small businesses, and municipal and consumer relationships. It accepts time, savings, and demand deposits. The company offers commercial real estate, multi-family mortgage, residential mortgage, secured and unsecured commercial and consumer, home equity, and construction loans; and mortgage-backed securities, collateralized mortgage obligations, and other asset backed securities.

Further Reading: How to calculate the intrinsic value of a stock

Insider Buying and Selling by Quarter for Bridge Bancorp (NASDAQ:BDGE)

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