Legal & General Group Plc reduced its stake in shares of Bridge Bancorp, Inc. (NASDAQ:BDGE) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,360 shares of the financial services provider’s stock after selling 59 shares during the period. Legal & General Group Plc’s holdings in Bridge Bancorp were worth $153,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Teachers Advisors LLC increased its position in Bridge Bancorp by 4.6% in the first quarter. Teachers Advisors LLC now owns 30,199 shares of the financial services provider’s stock valued at $1,057,000 after buying an additional 1,337 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its position in Bridge Bancorp by 71.9% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 26,272 shares of the financial services provider’s stock valued at $918,000 after buying an additional 10,990 shares during the last quarter. American International Group Inc. increased its position in Bridge Bancorp by 7.7% in 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. Prudential Financial Inc. increased its position in 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. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new position in Bridge Bancorp during the first quarter valued at about $1,174,000. 55.95% of the stock is currently owned by hedge funds and other institutional investors.

Bridge Bancorp, Inc. (NASDAQ BDGE) traded down 0.079% during midday trading on Tuesday, reaching $31.525. 3,469 shares of the company’s stock traded hands. Bridge Bancorp, Inc. has a 1-year low of $26.90 and a 1-year high of $38.95. The firm’s 50 day moving average price is $32.77 and its 200-day moving average price is $34.35. The company has a market capitalization of $619.34 million, a PE ratio of 16.662 and a beta of 0.80.

Bridge Bancorp (NASDAQ:BDGE) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by $0.04. The company had revenue of $35.30 million for the quarter, compared to analysts’ expectations of $36.10 million. Bridge Bancorp had a return on equity of 9.02% and a net margin of 22.91%. Equities analysts expect that Bridge Bancorp, Inc. will post $1.92 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 21st were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date was Wednesday, July 19th. Bridge Bancorp’s dividend payout ratio is currently 47.92%.

TRADEMARK VIOLATION WARNING: “Legal & General Group Plc Decreases Position in Bridge Bancorp, Inc. (BDGE)” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this report on another site, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this report can be viewed at https://www.thecerbatgem.com/2017/08/15/legal-general-group-plc-decreases-position-in-bridge-bancorp-inc-bdge.html.

Several equities research analysts have commented on BDGE shares. Zacks Investment Research lowered shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. BidaskClub lowered shares of Bridge Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $37.00 price target on shares of Bridge Bancorp in a report on Thursday, August 10th.

In other Bridge Bancorp news, major shareholder Basswood Capital Management, L sold 133,878 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $33.67, for a total value of $4,507,672.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Basswood Partners, L.L.C. sold 5,152 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $34.89, for a total transaction of $179,753.28. The disclosure for this sale can be found here. In the last three months, insiders have purchased 113,234 shares of company stock worth $3,815,829 and have sold 375,232 shares worth $12,683,165. 5.30% of the stock is currently owned by insiders.

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).

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)

Receive News & Stock Ratings for Bridge Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bridge Bancorp Inc. and related stocks with our FREE daily email newsletter.