SEC Insider Narrative: Basswood Partners – L.L.C. Purchased $18.15 million of Bridge Bancorp, Inc. (NASDAQ:BDGE) in Insider Trade

November 24, 2016 - By Linda Rogers

SEC Insider Narrative: Basswood Partners   L.L.C. Purchased $18.15 million of Bridge Bancorp, Inc. (NASDAQ:BDGE) in Insider Trade

Basswood Partners – L.L.C. Insider Buy

Basswood Partners – L.L.C. is the Bridge Bancorp Inc’s insider who picked up shares of Bridge Bancorp Inc, 585,465 to be exact. The insider shares were based on $31.0, with Basswood Partners – L.L.C.’s transaction having a total value of $18.15 million U.S. Dollars. The likelihood that the trade stays unseen is super low as a result of the substantial amount of money involved. Now, Basswood Partners – L.L.C. owns 1.44 million shares which make up roughly 10%+ of the Company’s market cap.

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. On Friday, April 29 the stock rating was downgraded by FIG Partners to “Market Perform”. The stock of Bridge Bancorp, Inc. (NASDAQ:BDGE) has “Market Perform” rating given on Thursday, August 25 by Keefe Bruyette & Woods. The firm earned “Market Perform” rating on Friday, April 15 by Wood.

Insitutional Activity: The institutional sentiment increased to 2.53 in 2016 Q2. 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.

The Massachusetts-based Rhumbline Advisers has invested 0% in Bridge Bancorp, Inc. (NASDAQ:BDGE). Price T Rowe Assoc Md owns 1.46 million shares or 0.01% of their US portfolio. Legal & General Grp Public Ltd Liability accumulated 0% or 2,556 shares. Dimensional Fund Advisors Limited Partnership holds 158,039 shares or 0% of its portfolio. Voya Inv Management Limited Liability accumulated 0% or 8,511 shares. Monarch Prns Asset Management Limited Liability last reported 17,552 shares in the company. The New York-based Strategic Advsr has invested 0.14% in Bridge Bancorp, Inc. (NASDAQ:BDGE). Diamond Hill Capital Management has invested 0% of its portfolio in Bridge Bancorp, Inc. (NASDAQ:BDGE). Manufacturers Life Insurance The reported 11,827 shares or 0% of all its holdings. Blackrock Inv Ltd Com accumulated 0% or 71,512 shares. Private Advisor Group Ltd Liability has 31,286 shares for 0.04% of their US portfolio. State Street owns 238,550 shares or 0% of their US portfolio. Retail Bank Of Mellon Corp reported 77,793 shares or 0% of all its holdings. Saybrook Nc accumulated 0.89% or 48,577 shares. Schwab Charles Investment Mgmt Incorporated holds 0% of its portfolio in Bridge Bancorp, Inc. (NASDAQ:BDGE) for 21,000 shares.

Insider Transactions: Since June 6, 2016, the stock had 1 insider buy, and 10 sales for $834,610 net activity. BASSWOOD CAPITAL MANAGEMENT – L.L.C. sold $640,151 worth of stock. SUSKIND DENNIS A sold $58,750 worth of stock or 2,000 shares. Shares for $22,328 were sold by NIELSEN RAYMOND A on Friday, August 19. Another trade for 887 shares valued at $26,865 was sold by NOLAN HOWARD H. McCOY JR. ALBERT E bought $136,436 worth of Bridge Bancorp, Inc. (NASDAQ:BDGE) on Wednesday, November 2.

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 $9.22M 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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