Ownership Change: Bridge Bancorp Inc: Matthew Lindenbaum’s Basswood Capital Management. Opened Big New Position

Ownership Change: Bridge Bancorp Inc: Matthew Lindenbaum's Basswood Capital Management. Opened Big New Position

The New Matthew Lindenbaum’s Basswood Capital Management. Holding in Bridge Bancorp Inc

Basswood Capital Management. filed with the SEC SC 13D/A form for Bridge Bancorp Inc. The form can be accessed here: 000089914016001703. As reported in Matthew Lindenbaum’s Basswood Capital Management.’s form, the filler as of late owns 11.5% or 2,190,086 shares of the Finance–company.

Bridge Bancorp Inc stake is a new one for the for the hedge fund and it was filed because of activity on November 22, 2016. We feel this shows Matthew Lindenbaum’s Basswood Capital Management.’s positive view for the stock. For a hedge fund managing $2.47 billion in assets and having 14+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.

The hedge fund is active investor in the Finance sector. In the manager’s last 13-F, we saw 25% of Matthew Lindenbaum’s Basswood Capital Management.’s US equities portfolio is in this sector.

Bridge Bancorp Inc Institutional Sentiment

Latest Security and Exchange filings show 69 investors own Bridge Bancorp Inc. The institutional ownership in Q3 2015 is high, at 66.47% of the outstanding shares. This is increased by 4985337 the total institutional shares. 12688299 were the shares owned by these institutional investors. In total 6 funds opened new Bridge Bancorp Inc stakes, 31 increased stakes. There were 5 that closed positions and 16 reduced them.

3 managers had the stock in their top Ten. Notable investors are: Basswood Capital Management L.L.C., Fj Capital Management Llc..

Gator Capital Management Llc is an institutional investor bullish on Bridge Bancorp Inc, owning 53690 shares as of Q3 2015 for 2.35% of its portfolio. Joshua Nash Ulysses Management Llc owns 521400 shares or 1.49% of its portfolio. VA Fj Capital Management Llc have 3.18% of their stock portfolio for 544000 shares. Further, Clover Partners Lp reported stake worth 4.38% of its US stock portfolio. The NY Basswood Capital Management Llc owns 1772772 shares. Bridge Bancorp Inc is 2.33% of the manager’s US portfolio.

Business Profile

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. GSE) securities.

SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.

Matthew Lindenbaum’s Basswood Capital Management. website.

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.

Highlander Capital Ltd Liability reported 2,000 shares or 0.05% of all its holdings. Tower Research Capital Limited Company (Trc) accumulated 0% or 789 shares. Diamond Hill Capital Mgmt last reported 17,480 shares in the company. Swiss Bancorp last reported 0% of its portfolio in the stock. Deutsche Retail Bank Ag holds 105,091 shares or 0% of its portfolio. Moreover, Oberweis Asset Management has 0.12% invested in Bridge Bancorp, Inc. (NASDAQ:BDGE) for 13,680 shares. Penn Management last reported 180,157 shares in the company. California State Teachers Retirement Systems last reported 35,067 shares in the company. Ulysses reported 461,814 shares or 1.54% of all its holdings. Credit Suisse Ag has invested 0% of its portfolio in Bridge Bancorp, Inc. (NASDAQ:BDGE). Blackrock Ltd Liability Corporation, a Delaware-based fund reported 7,551 shares. Banc Funds Commerce Ltd Com accumulated 87,965 shares or 0.15% of the stock. The New York-based Jpmorgan Chase And has invested 0% in Bridge Bancorp, Inc. (NASDAQ:BDGE). Amg National Financial Bank holds 17,212 shares or 0.04% of its portfolio. Creative Planning has 0% invested in the company for 1,441 shares.

Insider Transactions: Since June 6, 2016, the stock had 3 insider buys, and 10 selling transactions for $42.11 million net activity. BASSWOOD CAPITAL MANAGEMENT – L.L.C. sold $640,151 worth of stock or 22,005 shares. On Monday, August 22 the insider SUSKIND DENNIS A sold $57,358. Shares for $18.15M were bought by BASSWOOD PARTNERS – L.L.C.. McCOY JR. ALBERT E bought $136,436 worth of Bridge Bancorp, Inc. (NASDAQ:BDGE) on Wednesday, November 2. NOLAN HOWARD H sold $26,865 worth of stock. NIELSEN RAYMOND A had sold 734 shares worth $22,328.

Analysts await Bridge Bancorp, Inc. (NASDAQ:BDGE) to report earnings on February, 3. They expect $0.52 EPS, up 6.12% or $0.03 from last year’s $0.49 per share. BDGE’s profit will be $9.26M for 15.82 P/E if the $0.52 EPS becomes a reality. After $0.51 actual EPS reported by Bridge Bancorp, Inc. for the previous quarter, Wall Street now forecasts 1.96% EPS growth.

The stock increased 1.86% or $0.6 on November 23, hitting $32.9. Bridge Bancorp, Inc. (NASDAQ:BDGE) has risen 6.27% since April 22, 2016 and is uptrending. It has outperformed by 0.86% the S&P500.

Bridge Bancorp, Inc. is a bank holding firm for The Bridgehampton National Bank . The company has a market cap of $585.75 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.

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 company was downgraded on Friday, April 29 by FIG Partners. Keefe Bruyette & Woods maintained it with “Market Perform” rating and $28 target price in Thursday, August 25 report. As per Friday, April 15, the company rating was initiated by Wood.

More notable recent Bridge Bancorp, Inc. (NASDAQ:BDGE) news were published by: Marketwatch.com which released: “/quotes/zigman/3870025/realtime” on April 18, 2011, also Nasdaq.com with their article: “Bridge Bancorp, Inc. Announces Pricing of Public Offering of 1613000 Shares of …” published on November 22, 2016, 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 Streetinsider.com‘s news article titled: “Form 5 BRIDGE BANCORP INC For: Dec 31 Filed by: Lindenbaum Nathan” with publication date: November 23, 2016.

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

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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