Bridge Bancorp Inc. (BDGE) Stake Held by JPMorgan Chase & Co.
JPMorgan Chase & Co. continued to hold its position in shares of Bridge Bancorp Inc. (NASDAQ:BDGE) during the second quarter, Holdings Channel reports. The institutional investor owned 213,833 shares of the financial services provider’s stock at the end of the second quarter. JPMorgan Chase & Co. owned about 1.23% of Bridge Bancorp worth $6,073,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Strategic Advisors LLC boosted its position in shares of 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 during the period. TD Asset Management Inc. boosted its position in shares of Bridge Bancorp by 40.4% in the second quarter. TD Asset Management Inc. now owns 13,200 shares of the financial services provider’s stock worth $375,000 after buying an additional 3,800 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in shares of Bridge Bancorp by 28.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 12,491 shares of the financial services provider’s stock worth $381,000 after buying an additional 2,772 shares during the period. Monarch Partners Asset Management LLC boosted its position in shares of Bridge Bancorp by 23.2% in the second quarter. Monarch Partners Asset Management LLC now owns 17,552 shares of the financial services provider’s stock worth $498,000 after buying an additional 3,300 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Bridge Bancorp by 1.3% in the second quarter. First Trust Advisors LP now owns 22,377 shares of the financial services provider’s stock worth $636,000 after buying an additional 278 shares during the period. 50.68% of the stock is owned by institutional investors.
Bridge Bancorp Inc. (NASDAQ:BDGE) traded down 0.07% during mid-day trading on Tuesday, reaching $28.47. 8,805 shares of the company’s stock traded hands. The company has a market capitalization of $488.32 million, a price-to-earnings ratio of 14.93 and a beta of 0.70. The company has a 50-day moving average of $29.23 and a 200-day moving average of $29.54. Bridge Bancorp Inc. has a 52-week low of $26.23 and a 52-week high of $32.40.
Bridge Bancorp (NASDAQ:BDGE) last posted its earnings results on Thursday, July 28th. The financial services provider reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. Bridge Bancorp had a net margin of 22.65% and a return on equity of 10.00%. Equities research analysts expect that Bridge Bancorp Inc. will post $2.00 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 21st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Wednesday, October 19th. Bridge Bancorp’s dividend payout ratio is currently 48.42%.
A number of brokerages have recently weighed in on BDGE. Zacks Investment Research raised shares of Bridge Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. Keefe, Bruyette & Woods dropped their price objective on shares of Bridge Bancorp from $30.00 to $28.00 and set a “market perform” rating for the company in a research note on Thursday, August 25th.
In related news, major shareholder Basswood Capital Management, L purchased 2,881 shares of Bridge Bancorp stock in a transaction dated Monday, September 19th. The stock was bought at an average cost of $29.16 per share, with a total value of $84,009.96. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dennis A. Suskind sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $29.37, for a total transaction of $58,740.00. Following the completion of the sale, the director now directly owns 87,973 shares of the company’s stock, valued at $2,583,767.01. The disclosure for this sale can be found here. 6.00% 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 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.
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