Northern Trust Corp Buys 1,494 Shares of Bridge Bancorp, Inc. (BDGE)
Northern Trust Corp boosted its stake in Bridge Bancorp, Inc. (NASDAQ:BDGE) by 0.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 225,325 shares of the financial services provider’s stock after purchasing an additional 1,494 shares during the period. Northern Trust Corp owned about 1.15% of Bridge Bancorp worth $7,503,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of BDGE. New York State Common Retirement Fund boosted its position in Bridge Bancorp by 16.1% during the second quarter. New York State Common Retirement Fund now owns 22,400 shares of the financial services provider’s stock valued at $746,000 after acquiring an additional 3,099 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Bridge Bancorp by 0.8% during the second quarter. Ameriprise Financial Inc. now owns 153,550 shares of the financial services provider’s stock valued at $5,113,000 after acquiring an additional 1,270 shares during the last quarter. Strategic Advisors LLC boosted its position in Bridge Bancorp by 0.5% during the second quarter. Strategic Advisors LLC now owns 9,938 shares of the financial services provider’s stock valued at $331,000 after acquiring an additional 47 shares during the last quarter. Teachers Advisors LLC boosted its position in Bridge Bancorp by 9.8% during the second quarter. Teachers Advisors LLC now owns 33,167 shares of the financial services provider’s stock valued at $1,104,000 after acquiring an additional 2,968 shares during the last quarter. Finally, Franklin Resources Inc. bought a new stake in Bridge Bancorp during the second quarter valued at $396,000. Institutional investors and hedge funds own 55.84% of the company’s stock.
Shares of Bridge Bancorp, Inc. (BDGE) opened at $33.30 on Friday. The company has a market cap of $651.41, a price-to-earnings ratio of 17.40 and a beta of 0.71. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.26. Bridge Bancorp, Inc. has a 1 year low of $28.35 and a 1 year high of $38.95.
Bridge Bancorp (NASDAQ:BDGE) last released its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.03). The company had revenue of $37.32 million for the quarter, compared to the consensus estimate of $36.50 million. Bridge Bancorp had a return on equity of 8.52% and a net margin of 22.62%. equities research analysts expect that Bridge Bancorp, Inc. will post 1.89 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, October 20th were given a dividend of $0.23 per share. The ex-dividend date was Thursday, October 19th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.76%. Bridge Bancorp’s dividend payout ratio (DPR) is presently 48.42%.
A number of analysts have commented on BDGE shares. ValuEngine raised shares of Bridge Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, September 27th. Zacks Investment Research raised shares of Bridge Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $37.00 price target on shares of Bridge Bancorp in a research report on Thursday, August 10th. FIG Partners reaffirmed a “market-perform” rating on shares of Bridge Bancorp in a research report on Thursday, October 26th. Finally, BidaskClub cut shares of Bridge Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Bridge Bancorp presently has a consensus rating of “Hold” and a consensus price target of $38.50.
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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