Dimensional Fund Advisors LP boosted its stake in shares of Bridge Bancorp, Inc. (NASDAQ:BDGE) by 9.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 731,112 shares of the financial services provider’s stock after purchasing an additional 63,777 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Bridge Bancorp were worth $18,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently added to or reduced their stakes in BDGE. BlackRock Inc. boosted its position in Bridge Bancorp by 3.5% during the 4th quarter. BlackRock Inc. now owns 1,061,917 shares of the financial services provider’s stock worth $27,068,000 after acquiring an additional 35,652 shares during the period. Vanguard Group Inc boosted its position in Bridge Bancorp by 0.7% during the 3rd quarter. Vanguard Group Inc now owns 831,552 shares of the financial services provider’s stock worth $27,608,000 after acquiring an additional 5,767 shares during the period. Vanguard Group Inc. boosted its position in Bridge Bancorp by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 831,552 shares of the financial services provider’s stock worth $27,608,000 after acquiring an additional 5,767 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Bridge Bancorp by 9.0% in the third quarter. Renaissance Technologies LLC now owns 260,099 shares of the financial services provider’s stock valued at $8,635,000 after buying an additional 21,499 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Bridge Bancorp by 1.5% in the fourth quarter. Northern Trust Corp now owns 212,161 shares of the financial services provider’s stock valued at $5,408,000 after buying an additional 3,035 shares during the period. Institutional investors and hedge funds own 57.77% of the company’s stock.
Several brokerages have recently weighed in on BDGE. TheStreet upgraded Bridge Bancorp from a “c+” rating to a “b-” rating in a report on Thursday, February 14th. BidaskClub lowered Bridge Bancorp from a “sell” rating to a “strong sell” rating in a report on Saturday, March 9th. Boenning Scattergood began coverage on Bridge Bancorp in a report on Monday, April 1st. They issued an “outperform” rating for the company. Finally, ValuEngine lowered Bridge Bancorp from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. Bridge Bancorp presently has a consensus rating of “Hold” and an average target price of $38.00.
Shares of Bridge Bancorp stock opened at $31.34 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $630.77 million, a PE ratio of 13.52 and a beta of 1.04. Bridge Bancorp, Inc. has a fifty-two week low of $24.12 and a fifty-two week high of $38.00.
Bridge Bancorp (NASDAQ:BDGE) last announced its quarterly earnings data on Monday, January 28th. The financial services provider reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.03. The business had revenue of $39.21 million during the quarter. Bridge Bancorp had a return on equity of 10.59% and a net margin of 21.73%. Equities analysts anticipate that Bridge Bancorp, Inc. will post 2.75 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 19th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Wednesday, April 17th. Bridge Bancorp’s dividend payout ratio (DPR) is presently 34.59%.
In other news, insider Basswood Capital Management, L sold 34,737 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $30.77, for a total transaction of $1,068,857.49. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 209,692 shares of company stock worth $5,976,447 over the last ninety days. 15.50% of the stock is owned by insiders.
Bridge Bancorp Profile
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.
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