Bridge Bancorp Inc. (NASDAQ:BDGE) major shareholder Basswood Partners, L.L.C. acquired 585,465 shares of the business’s stock in a transaction on Tuesday, November 22nd. The stock was acquired at an average price of $31.00 per share, with a total value of $18,149,415.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Shares of Bridge Bancorp Inc. (NASDAQ:BDGE) traded up 1.86% during mid-day trading on Wednesday, hitting $32.90. 71,985 shares of the stock were exchanged. Bridge Bancorp Inc. has a one year low of $26.23 and a one year high of $33.10. The company has a 50-day moving average of $28.79 and a 200 day moving average of $29.24. The stock has a market cap of $564.83 million, a PE ratio of 16.79 and a beta of 0.74.

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Friday, October 21st were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Wednesday, October 19th. Bridge Bancorp’s dividend payout ratio is currently 47.18%.

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods cut their price target on shares of Bridge Bancorp from $30.00 to $28.00 and set a “market perform” rating for the company in a report on Thursday, August 25th. Zacks Investment Research downgraded shares of Bridge Bancorp from a “hold” rating to a “strong sell” rating in a report on Monday, October 31st.

A number of hedge funds have recently added to or reduced their stakes in BDGE. Strategic Advisors LLC increased its stake in Bridge Bancorp by 0.5% in the second quarter. Strategic Advisors LLC now owns 8,491 shares of the financial services provider’s stock worth $241,000 after buying an additional 41 shares in the last quarter. Rhumbline Advisers increased its stake in Bridge Bancorp by 0.6% in the third quarter. Rhumbline Advisers now owns 17,451 shares of the financial services provider’s stock worth $499,000 after buying an additional 110 shares in the last quarter. BlackRock Inc. increased its stake in Bridge Bancorp by 4.0% in the third quarter. BlackRock Inc. now owns 4,610 shares of the financial services provider’s stock worth $132,000 after buying an additional 179 shares in the last quarter. California State Teachers Retirement System increased its stake in Bridge Bancorp by 0.6% in the third quarter. California State Teachers Retirement System now owns 35,267 shares of the financial services provider’s stock worth $1,008,000 after buying an additional 200 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in Bridge Bancorp by 6.7% in the third quarter. BlackRock Group LTD now owns 3,992 shares of the financial services provider’s stock worth $114,000 after buying an additional 252 shares in the last quarter. 50.56% of the stock is currently owned by hedge funds and other institutional investors.

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Bridge Bancorp Company Profile

Bridge Bancorp, Inc is a bank holding company for The Bridgehampton National Bank (the Bank). The Bank engages in commercial and consumer banking business, including accepting time, savings and demand deposits from the consumers, businesses and local municipalities surrounding its branch offices. These deposits, together with funds generated from operations and borrowings, are invested primarily in commercial real estate loans; multi-family mortgage loans; home equity loans; construction loans; residential mortgage loans; secured and unsecured commercial and consumer loans; Federal Home Loan Bank (FHLB), Federal National Mortgage Association (FNMA), Government National Mortgage Association (GNMA) and Federal Home Loan Mortgage Corporation (FHLMC) and non-agency mortgage-backed securities, collateralized mortgage obligations and other asset backed securities; New York State and local municipal obligations, and the United States government sponsored entity (U.S.

5 Day Chart for NASDAQ:BDGE

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