Boston Trust Walden Corp Acquires 2,827 Shares of Bridge Bancorp, Inc. (NASDAQ:BDGE)

Boston Trust Walden Corp boosted its holdings in shares of Bridge Bancorp, Inc. (NASDAQ:BDGE) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 184,227 shares of the financial services provider’s stock after purchasing an additional 2,827 shares during the period. Boston Trust Walden Corp owned about 0.93% of Bridge Bancorp worth $5,446,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Municipal Employees Retirement System of Michigan bought a new position in Bridge Bancorp during the 2nd quarter valued at $403,000. Acadian Asset Management LLC lifted its position in shares of Bridge Bancorp by 127.9% during the 2nd quarter. Acadian Asset Management LLC now owns 37,289 shares of the financial services provider’s stock valued at $1,097,000 after acquiring an additional 20,930 shares during the last quarter. LSV Asset Management lifted its position in shares of Bridge Bancorp by 3.0% during the 2nd quarter. LSV Asset Management now owns 85,700 shares of the financial services provider’s stock valued at $2,524,000 after acquiring an additional 2,500 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Bridge Bancorp by 19.6% during the 2nd quarter. Prudential Financial Inc. now owns 22,160 shares of the financial services provider’s stock valued at $653,000 after acquiring an additional 3,630 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Bridge Bancorp during the 2nd quarter valued at $41,000. Hedge funds and other institutional investors own 58.56% of the company’s stock.

A number of equities research analysts have recently commented on the company. DA Davidson assumed coverage on Bridge Bancorp in a research report on Thursday, October 3rd. They set a “neutral” rating and a $33.00 price objective for the company. ValuEngine upgraded Bridge Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. BidaskClub upgraded Bridge Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. Finally, Zacks Investment Research upgraded Bridge Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, September 17th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $32.67.

In other news, Director Rudolph J. Santoro sold 1,700 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $28.47, for a total value of $48,399.00. Following the completion of the sale, the director now owns 30,347 shares in the company, valued at $863,979.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Nathan Lindenbaum bought 3,875 shares of Bridge Bancorp stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $27.16 per share, with a total value of $105,245.00. Following the acquisition, the insider now directly owns 10,015 shares of the company’s stock, valued at $272,007.40. The disclosure for this purchase can be found here. 15.50% of the stock is owned by corporate insiders.

BDGE opened at $29.99 on Wednesday. The stock has a fifty day moving average of $29.16 and a 200-day moving average of $29.09. The firm has a market capitalization of $587.18 million, a P/E ratio of 11.27 and a beta of 1.11. Bridge Bancorp, Inc. has a 12-month low of $24.12 and a 12-month high of $33.88. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.76.

Bridge Bancorp (NASDAQ:BDGE) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.14). The business had revenue of $41.02 million during the quarter, compared to analysts’ expectations of $41.20 million. Bridge Bancorp had a net margin of 22.25% and a return on equity of 11.24%. On average, analysts expect that Bridge Bancorp, Inc. will post 2.49 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 18th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.07%. Bridge Bancorp’s payout ratio is currently 34.59%.

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 and land loans; and mortgage-backed securities, collateralized mortgage obligations, and other asset backed securities.

Further Reading: What are the benefits of investing in REITs?

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 & Ratings for Bridge Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bridge Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.