Insider Filing Note: Basswood Capital Management – L.L.C. Insider Trade for 800,000 Shares of Bridge Bancorp, Inc. (NASDAQ:BDGE)

November 24, 2016 - By Winifred Garcia

Insider Filing Note: Basswood Capital Management   L.L.C. Insider Trade for 800,000 Shares of Bridge Bancorp, Inc. (NASDAQ:BDGE)

Basswood Capital Management – L.L.C. Insider Buy

Bridge Bancorp Inc’s insider Basswood Capital Management – L.L.C. paid for 800,000 shares of the New York-based company in a stock market purchase dated November 23, 2016. These transaction’s shares were acquired at an avg. market stock price per share of $31.0, for a total purchase of $24.80 million. Basswood Capital Management – L.L.C. has around 10.05% of Bridge Bancorp Inc’s total market cap or 1.76 million shares. Considering the size of the deal, it is difficult to stay ignored. Basswood Capital Management – L.L.C. finished this purchase on November 23, 2016. The Form 4 is accessible for free here at the Washington-based Security and Exchange Commission website.

Bridge Bancorp, Inc. (NASDAQ:BDGE) Ratings Coverage

Out of 3 analysts covering Bridge Bancorp (NASDAQ:BDGE), 0 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 0 are positive. $33 is the highest target while $28 is the lowest. The $30.50 average target is -7.29% below today’s ($32.9) stock price. Bridge Bancorp has been the topic of 3 analyst reports since April 15, 2016 according to StockzIntelligence Inc. The firm earned “Market Perform” rating on Friday, April 15 by Wood. On Friday, April 29 the stock rating was downgraded by FIG Partners to “Market Perform”. As per Thursday, August 25, the company rating was maintained by Keefe Bruyette & Woods.

Insitutional Activity: The institutional sentiment increased to 2.53 in Q2 2016. Its up 1.30, from 1.23 in 2016Q1. The ratio improved, as 7 funds sold all Bridge Bancorp, Inc. shares owned while 19 reduced positions. 2 funds bought stakes while 30 increased positions. They now own 8.81 million shares or 0.61% more from 8.75 million shares in 2016Q1.

Blackrock Fund Advisors has 431,570 shares for 0% of their US portfolio. California Public Employees Retirement Systems accumulated 18,204 shares or 0% of the stock. Blackrock Advisors Ltd Liability Company holds 7,551 shares or 0% of its portfolio. Dimensional Fund Advisors Limited Partnership last reported 0% of its portfolio in the stock. Legal & General Gru Public Ltd accumulated 2,556 shares or 0% of the stock. Ameriprise holds 0% or 108,210 shares in its portfolio. Saybrook Cap Nc holds 0.89% or 48,577 shares in its portfolio. First Advisors Limited Partnership owns 22,377 shares or 0% of their US portfolio. Monarch Prtn Asset Mgmt Lc last reported 0.05% of its portfolio in the stock. Teachers reported 26,666 shares or 0% of all its holdings. Wells Fargo & Company Mn owns 5,789 shares or 0% of their US portfolio. Emerald Mutual Fund Advisers Tru accumulated 225,409 shares or 0.36% of the stock. Amg Trust Bancorporation accumulated 0.04% or 17,212 shares. Geode Capital Mngmt Ltd Limited Liability Company has invested 0% of its portfolio in Bridge Bancorp, Inc. (NASDAQ:BDGE). Bancshares Of Mellon last reported 77,793 shares in the company.

Insider Transactions: Since June 6, 2016, the stock had 1 insider purchase, and 10 sales for $834,610 net activity. $57,358 worth of Bridge Bancorp, Inc. (NASDAQ:BDGE) was sold by SUSKIND DENNIS A on Monday, August 22. $136,436 worth of Bridge Bancorp, Inc. (NASDAQ:BDGE) was bought by McCOY JR. ALBERT E on Wednesday, November 2. NIELSEN RAYMOND A also sold $22,328 worth of Bridge Bancorp, Inc. (NASDAQ:BDGE) shares. NOLAN HOWARD H also sold $26,865 worth of Bridge Bancorp, Inc. (NASDAQ:BDGE) on Thursday, August 18. 22,005 Bridge Bancorp, Inc. (NASDAQ:BDGE) shares with value of $640,151 were sold by BASSWOOD CAPITAL MANAGEMENT – L.L.C.

The stock increased 1.86% or $0.6 during the last trading session, hitting $32.9. About 71,985 shares traded hands or 12.83% up from the average. Bridge Bancorp, Inc. (NASDAQ:BDGE) has risen 6.67% since April 21, 2016 and is uptrending. It has outperformed by 1.34% the S&P500.

Bridge Bancorp, Inc. is a bank holding firm for The Bridgehampton National Bank . The company has a market cap of $583.19 million. 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. It has a 17.05 P/E ratio. These deposits, together with funds generated from activities 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.

According to Zacks Investment Research, “Bridge Bancorp, Inc. is the bank holding company of The Bridgehampton National Bank.”

Analysts await Bridge Bancorp, Inc. (NASDAQ:BDGE) to report earnings on February, 3. They expect $0.52 earnings per share, up 6.12% or $0.03 from last year’s $0.49 per share. BDGE’s profit will be $9.22 million for 15.82 P/E if the $0.52 EPS becomes a reality. After $0.51 actual earnings per share reported by Bridge Bancorp, Inc. for the previous quarter, Wall Street now forecasts 1.96% EPS growth.

More notable recent Bridge Bancorp, Inc. (NASDAQ:BDGE) news were published by: Streetinsider.com which released: “Form 5 BRIDGE BANCORP INC For: Dec 31 Filed by: Lindenbaum Nathan” on November 23, 2016, also Marketwatch.com with their article: “/quotes/zigman/3870025/realtime” published on April 18, 2011, Globenewswire.com published: “Bridge Bancorp, Inc. Announces Agreement to Acquire Community National Bank” on December 15, 2014. More interesting news about Bridge Bancorp, Inc. (NASDAQ:BDGE) were released by: Globenewswire.com and their article: “Bridge Bancorp, Inc. Reports Second Quarter 2016 Results” published on July 28, 2016 as well as Reuters.com‘s news article titled: “BRIEF-Bridge Bancorp reports pricing of public offering of 1613000 share..” with publication date: November 22, 2016.

BDGE Company Profile

Bridge Bancorp, Inc., incorporated on October 13, 1988, is a bank holding firm 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 activities 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. GSE) securities. The Bank’s activities include Bridgehampton Community, Inc. (BCI), which is its real estate investment trust subsidiary; Bridge Abstract LLC (Bridge Abstract), which is a financial title insurance subsidiary, and Bridge Financial Services LLC (Bridge Financial Services), which is an investment services subsidiary.

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