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

Bridgewater Bancshares, Inc. (NASDAQ:BWB) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 233,700 shares, a decline of 5.3% from the March 15th total of 246,700 shares. Based on an average daily trading volume, of 63,500 shares, the short-interest ratio is presently 3.7 days. Approximately 1.2% of the shares of the company are sold short.

Bridgewater Bancshares Price Performance

Bridgewater Bancshares stock opened at $11.18 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.03 and a current ratio of 1.03. Bridgewater Bancshares has a one year low of $7.90 and a one year high of $14.43. The company has a market cap of $309.80 million, a P/E ratio of 8.87 and a beta of 0.65. The business has a fifty day moving average of $11.67 and a two-hundred day moving average of $11.37.

Bridgewater Bancshares (NASDAQ:BWB) last announced its quarterly earnings data on Wednesday, January 24th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.26 by $0.02. The firm had revenue of $26.72 million during the quarter, compared to analysts’ expectations of $26.70 million. Bridgewater Bancshares had a net margin of 17.46% and a return on equity of 11.53%. As a group, analysts predict that Bridgewater Bancshares will post 1.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. TheStreet cut shares of Bridgewater Bancshares from a “b-” rating to a “c+” rating in a research note on Monday, March 11th. Piper Sandler reiterated an “overweight” rating and set a $15.50 price target on shares of Bridgewater Bancshares in a research note on Wednesday, January 17th. Hovde Group started coverage on shares of Bridgewater Bancshares in a research report on Monday, March 4th. They issued an “outperform” rating for the company. Finally, DA Davidson boosted their target price on Bridgewater Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, January 26th.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Bridgewater Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund grew its stake in 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 last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Bridgewater Bancshares by 102.9% in the third quarter. Tower Research Capital LLC TRC now owns 1,844 shares of the company’s stock valued at $31,000 after purchasing an additional 935 shares in the last quarter. Royal Bank of Canada grew its position in shares of Bridgewater Bancshares by 4.0% in the second quarter. Royal Bank of Canada now owns 26,256 shares of the company’s stock valued at $258,000 after purchasing an additional 1,020 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Bridgewater Bancshares by 1.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 56,610 shares of the company’s stock worth $945,000 after purchasing an additional 1,025 shares in the last quarter. Finally, Putnam Investments LLC increased its stake in shares of Bridgewater Bancshares by 0.6% during the 4th quarter. Putnam Investments LLC now owns 214,831 shares of the company’s stock worth $3,811,000 after purchasing an additional 1,204 shares in the last quarter. 65.83% of the stock is currently owned by institutional investors and hedge funds.

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.