Short Interest in Bridgewater Bancshares, Inc. (NASDAQ:BWB) Grows By 16.4%

Bridgewater Bancshares, Inc. (NASDAQ:BWB) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 162,300 shares, an increase of 16.4% from the October 15th total of 139,400 shares. Based on an average daily trading volume, of 47,700 shares, the days-to-cover ratio is currently 3.4 days. Currently, 0.8% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, CEO Jerry J. Baack sold 11,500 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $14.15, for a total transaction of $162,725.00. Following the sale, the chief executive officer now directly owns 1,228,514 shares of the company’s stock, valued at $17,383,473.10. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas P. Trutna sold 5,000 shares of Bridgewater Bancshares stock in a transaction 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 completion of the sale, the director now directly owns 102,072 shares of the company’s stock, valued at $1,440,235.92. This trade represents a 4.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,841 shares of company stock worth $594,750. 23.21% of the stock is currently owned by corporate insiders.

Institutional Trading of Bridgewater Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the company. Stieven Capital Advisors L.P. lifted its position in Bridgewater Bancshares by 94.8% during the 1st quarter. Stieven Capital Advisors L.P. now owns 294,537 shares of the company’s stock worth $3,428,000 after buying an additional 143,376 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Bridgewater Bancshares by 92.3% during the first quarter. Acadian Asset Management LLC now owns 289,173 shares of the company’s stock worth $3,364,000 after acquiring an additional 138,776 shares in the last quarter. Kennedy Capital Management LLC acquired a new position in Bridgewater Bancshares during the first quarter valued at approximately $1,396,000. Foundry Partners LLC grew its stake in Bridgewater Bancshares by 111.7% in the third quarter. Foundry Partners LLC now owns 167,010 shares of the company’s stock valued at $2,367,000 after purchasing an additional 88,110 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Bridgewater Bancshares by 121.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 70,025 shares of the company’s stock worth $992,000 after purchasing an additional 38,461 shares during the last quarter. Institutional investors and hedge funds own 65.83% of the company’s stock.

Bridgewater Bancshares Trading Down 0.5 %

NASDAQ:BWB opened at $14.89 on Monday. The business’s 50-day simple moving average is $14.53 and its 200-day simple moving average is $13.11. Bridgewater Bancshares has a fifty-two week low of $10.18 and a fifty-two week high of $16.00. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $408.43 million, a PE ratio of 14.18 and a beta of 0.67.

Bridgewater Bancshares Company 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.