Bridge Bancorp, Inc. (BDGE) Director Raymond A. Nielsen Acquires 4,195 Shares

Bridge Bancorp, Inc. (NASDAQ:BDGE) Director Raymond A. Nielsen bought 4,195 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was bought at an average cost of $34.51 per share, with a total value of $144,769.45. Following the completion of the transaction, the director now owns 17,179 shares in the company, valued at approximately $592,847.29. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Bridge Bancorp, Inc. (NASDAQ BDGE) opened at 33.60 on Friday. The company’s 50-day moving average is $34.74 and its 200-day moving average is $35.50. Bridge Bancorp, Inc. has a 12 month low of $26.90 and a 12 month high of $38.95. The stock has a market capitalization of $650.63 million, a PE ratio of 17.02 and a beta of 0.90.

Bridge Bancorp (NASDAQ:BDGE) last posted its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $0.47 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.47. The firm had revenue of $34.58 million for the quarter, compared to analysts’ expectations of $34.80 million. Bridge Bancorp had a net margin of 23.17% and a return on equity of 9.33%. Equities research analysts forecast that Bridge Bancorp, Inc. will post $2.01 EPS for the current year.

Insider Buying and Selling by Quarter for Bridge Bancorp (NASDAQ:BDGE)

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Hedge funds have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY raised its stake in Bridge Bancorp by 2.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 12,742 shares of the financial services provider’s stock worth $483,000 after buying an additional 251 shares during the period. Nationwide Fund Advisors raised its stake 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 worth $429,000 after buying an additional 493 shares during the period. Strategic Advisors LLC raised its stake in Bridge Bancorp by 6.4% in the first quarter. Strategic Advisors LLC now owns 9,891 shares of the financial services provider’s stock worth $346,000 after buying an additional 592 shares during the period. American International Group Inc. raised its stake 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 worth $363,000 after buying an additional 743 shares during the period. Finally, Teachers Advisors LLC raised its stake in Bridge Bancorp by 4.6% in the first quarter. Teachers Advisors LLC now owns 30,199 shares of the financial services provider’s stock worth $1,057,000 after buying an additional 1,337 shares during the period. 56.88% of the stock is owned by institutional investors.

BDGE has been the subject of several research analyst reports. Zacks Investment Research cut shares of Bridge Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, March 29th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $37.00 target price on shares of Bridge Bancorp in a research report on Wednesday, April 5th.

Bridge Bancorp Company 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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