Bridgewater Bancshares, Inc. (NASDAQ:BWB) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its position in Bridgewater Bancshares, Inc. (NASDAQ:BWB) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,726,575 shares of the company’s stock after acquiring an additional 4,507 shares during the period. Thrivent Financial for Lutherans owned 9.96% of Bridgewater Bancshares worth $31,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. BNP Paribas Financial Markets grew its position in 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. grew its position in Bridgewater Bancshares by 23.3% during the 2nd quarter. Sei Investments Co. now owns 14,360 shares of the company’s stock worth $167,000 after purchasing an additional 2,713 shares during the period. Empowered Funds LLC acquired a new stake in Bridgewater Bancshares during the 1st quarter worth about $170,000. Riverwater Partners LLC acquired a new stake in Bridgewater Bancshares during the 2nd quarter worth about $207,000. Finally, Quadrature Capital Ltd acquired a new stake in Bridgewater Bancshares during the 4th quarter worth about $406,000. 65.83% of the stock is owned by institutional investors and hedge funds.

Bridgewater Bancshares Trading Down 0.7 %

BWB stock opened at $14.20 on Tuesday. The company’s 50-day simple moving average is $13.63 and its 200-day simple moving average is $12.24. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.98. Bridgewater Bancshares, Inc. has a 52-week low of $8.00 and a 52-week high of $14.90. The firm has a market cap of $388.71 million, a P/E ratio of 12.57 and a beta of 0.68.

Bridgewater Bancshares (NASDAQ:BWB) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The firm had revenue of $62.64 million for the quarter, compared to analyst estimates of $26.60 million. Bridgewater Bancshares had a net margin of 14.27% and a return on equity of 9.51%. During the same period last year, the company posted $0.31 EPS. As a group, equities analysts forecast that Bridgewater Bancshares, Inc. will post 1 EPS for the current fiscal year.

Insider Activity at Bridgewater Bancshares

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. DA Davidson increased their target price on shares of Bridgewater Bancshares from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Piper Sandler increased their target price on shares of Bridgewater Bancshares from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th.

Bridgewater Bancshares Profile

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.