Bridgewater Bancshares, Inc. (NASDAQ:BWB) Sees Significant Drop in Short Interest

Bridgewater Bancshares, Inc. (NASDAQ:BWB) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 127,200 shares, a drop of 5.1% from the August 15th total of 134,000 shares. Approximately 0.7% of the company’s stock are short sold. Based on an average trading volume of 48,000 shares, the days-to-cover ratio is currently 2.7 days.

Analyst Ratings Changes

A number of research firms have commented on BWB. DA Davidson increased their price target on Bridgewater Bancshares from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Piper Sandler increased their price objective on shares of Bridgewater Bancshares from $13.00 to $17.00 and gave the company an “overweight” rating in a research report on Monday, July 29th.

Insider Buying and Selling at Bridgewater Bancshares

In other news, CEO Jerry J. Baack sold 11,500 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $14.15, for a total value of $162,725.00. Following the completion of the transaction, the chief executive officer now directly owns 1,228,514 shares of the company’s stock, valued at approximately $17,383,473.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Jerry J. Baack sold 11,500 shares of Bridgewater Bancshares stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $14.15, for a total value of $162,725.00. Following the transaction, the chief executive officer now owns 1,228,514 shares of the company’s stock, valued at approximately $17,383,473.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas P. Trutna sold 5,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $14.11, for a total transaction of $70,550.00. Following the sale, the director now directly owns 102,072 shares of the company’s stock, valued at approximately $1,440,235.92. The disclosure for this sale can be found here. Insiders own 23.21% of the company’s stock.

Institutional Trading of Bridgewater Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Bridgewater Bancshares in the second quarter worth about $35,000. BNP Paribas Financial Markets grew its stake in shares of Bridgewater Bancshares by 100.4% during the 1st quarter. BNP Paribas Financial Markets now owns 10,237 shares of the company’s stock worth $119,000 after purchasing an additional 5,128 shares during the period. Sei Investments Co. increased its holdings in shares of Bridgewater Bancshares by 23.3% during the 2nd quarter. Sei Investments Co. now owns 14,360 shares of the company’s stock valued at $167,000 after purchasing an additional 2,713 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Bridgewater Bancshares in the 1st quarter valued at $170,000. Finally, Riverwater Partners LLC purchased a new stake in Bridgewater Bancshares during the second quarter worth $207,000. 65.83% of the stock is currently owned by institutional investors and hedge funds.

Bridgewater Bancshares Stock Performance

Shares of BWB stock opened at $14.29 on Thursday. The business has a fifty day moving average of $13.48 and a 200 day moving average of $12.17. Bridgewater Bancshares has a 1 year low of $8.00 and a 1 year high of $14.90. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $391.17 million, a price-to-earnings ratio of 12.65 and a beta of 0.68.

Bridgewater Bancshares (NASDAQ:BWB) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. The firm had revenue of $62.64 million during the quarter, compared to analysts’ expectations of $26.60 million. Bridgewater Bancshares had a return on equity of 9.51% and a net margin of 14.27%. During the same period last year, the business posted $0.31 earnings per share. As a group, research analysts expect that Bridgewater Bancshares will post 1 earnings per share for the current year.

About Bridgewater Bancshares

Bridgewater Bancshares, Inc operates as the bank holding company for Bridgewater Bank that provides banking products and services to commercial real estate investors, entrepreneurs, business clients, and individuals in the United States. The company provides savings and money market accounts, demand deposits, time and brokered deposits, and interest and noninterest bearing transaction, as well as certificates of deposit.