Short Interest in Bridgewater Bancshares, Inc. (NASDAQ:BWB) Expands By 11.5%

Bridgewater Bancshares, Inc. (NASDAQ:BWBGet Free Report) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 246,700 shares, a growth of 11.5% from the February 29th total of 221,200 shares. Based on an average trading volume of 74,200 shares, the days-to-cover ratio is presently 3.3 days. Approximately 1.3% of the shares of the stock are sold short.

Analysts Set New Price Targets

BWB has been the subject of several analyst reports. Hovde Group initiated coverage on shares of Bridgewater Bancshares in a report on Monday, March 4th. They issued an “outperform” rating for the company. Piper Sandler restated an “overweight” rating and set a $15.50 target price on shares of Bridgewater Bancshares in a research report on Wednesday, January 17th. TheStreet lowered Bridgewater Bancshares from a “b-” rating to a “c+” rating in a research note on Monday, March 11th. Finally, DA Davidson upped their price objective on Bridgewater Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, January 26th.

View Our Latest Analysis on Bridgewater Bancshares

Insider Activity

In other Bridgewater Bancshares news, CEO Jerry J. Baack sold 15,687 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $13.11, for a total transaction of $205,656.57. Following the completion of the transaction, the chief executive officer now owns 1,237,351 shares in the company, valued at $16,221,671.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director James S. Johnson sold 12,590 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $11.62, for a total transaction of $146,295.80. Following the transaction, the director now owns 94,063 shares of the company’s stock, valued at approximately $1,093,012.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jerry J. Baack sold 15,687 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $13.11, for a total value of $205,656.57. Following the sale, the chief executive officer now owns 1,237,351 shares in the company, valued at approximately $16,221,671.61. The disclosure for this sale can be found here. Corporate insiders own 23.21% of the company’s stock.

Hedge Funds Weigh In On Bridgewater Bancshares

Several institutional investors have recently made changes to their positions in BWB. Tower Research Capital LLC TRC raised its stake in Bridgewater Bancshares by 102.9% in the third quarter. Tower Research Capital LLC TRC now owns 1,844 shares of the company’s stock worth $31,000 after buying an additional 935 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of Bridgewater Bancshares by 28.4% in the 4th quarter. New York State Common Retirement Fund now owns 4,074 shares of the company’s stock valued at $55,000 after acquiring an additional 900 shares during the period. Citigroup Inc. raised its position in shares of Bridgewater Bancshares by 1,090.2% in the 2nd quarter. Citigroup Inc. now owns 6,189 shares of the company’s stock worth $61,000 after acquiring an additional 5,669 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Bridgewater Bancshares by 112.6% during the 2nd quarter. Wells Fargo & Company MN now owns 7,835 shares of the company’s stock worth $77,000 after purchasing an additional 4,150 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Bridgewater Bancshares by 59.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,146 shares of the company’s stock worth $83,000 after purchasing an additional 1,924 shares during the last quarter. Hedge funds and other institutional investors own 65.83% of the company’s stock.

Bridgewater Bancshares Price Performance

Bridgewater Bancshares stock opened at $11.28 on Wednesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $312.57 million, a price-to-earnings ratio of 8.95 and a beta of 0.65. The firm has a 50-day moving average of $11.94 and a two-hundred day moving average of $11.26. Bridgewater Bancshares has a 1 year low of $7.90 and a 1 year high of $14.43.

Bridgewater Bancshares (NASDAQ:BWBGet Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The firm had revenue of $26.72 million during the quarter, compared to analyst estimates of $26.70 million. Bridgewater Bancshares had a return on equity of 11.53% and a net margin of 17.46%. On average, research analysts forecast that Bridgewater Bancshares will post 1.13 earnings per share for the current year.

Bridgewater Bancshares Company Profile

(Get Free Report)

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.

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