Victory Capital Management Inc. Purchases 1,315 Shares of Bridge Bancorp, Inc. (BDGE)
Victory Capital Management Inc. boosted its position in Bridge Bancorp, Inc. (NASDAQ:BDGE) by 4.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,855 shares of the financial services provider’s stock after acquiring an additional 1,315 shares during the period. Victory Capital Management Inc. owned 0.15% of Bridge Bancorp worth $961,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Bridge Bancorp in the second quarter valued at about $105,000. American International Group Inc. boosted its holdings 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 acquiring an additional 743 shares during the last quarter. Barings LLC bought a new position in Bridge Bancorp in the first quarter valued at about $413,000. Nationwide Fund Advisors boosted its holdings in Bridge Bancorp by 4.2% in the first quarter. Nationwide Fund Advisors now owns 12,252 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 493 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Bridge Bancorp by 11.3% in the second quarter. Rhumbline Advisers now owns 21,655 shares of the financial services provider’s stock valued at $721,000 after acquiring an additional 2,190 shares during the last quarter. Institutional investors and hedge funds own 55.62% of the company’s stock.
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Bridge Bancorp, Inc. (BDGE) opened at 31.20 on Friday. Bridge Bancorp, Inc. has a one year low of $26.90 and a one year high of $38.95. The firm’s 50-day moving average price is $31.23 and its 200-day moving average price is $33.53. The company has a market cap of $604.47 million, a PE ratio of 16.33 and a beta of 0.81.
Bridge Bancorp (NASDAQ:BDGE) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.04). The company had revenue of $35.30 million during the quarter, compared to analyst estimates of $36.10 million. Bridge Bancorp had a net margin of 22.91% and a return on equity of 8.82%. On average, equities research analysts forecast that Bridge Bancorp, Inc. will post $1.92 earnings per share for the current fiscal year.
In related news, major shareholder Basswood Capital Management, L purchased 2,369 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The stock was bought at an average price of $33.10 per share, with a total value of $78,413.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dennis A. Suskind sold 1,000 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $32.50, for a total value of $32,500.00. Following the completion of the sale, the director now directly owns 79,550 shares of the company’s stock, valued at approximately $2,585,375. The disclosure for this sale can be found here. In the last three months, insiders sold 3,000 shares of company stock valued at $97,200. Insiders own 5.30% of the company’s stock.
BDGE has been the topic of several recent research reports. Zacks Investment Research upgraded Bridge Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $37.00 price target on shares of Bridge Bancorp in a report on Thursday, August 10th. Finally, BidaskClub cut Bridge Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th.
Bridge Bancorp Profile
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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