Russell Investments Group Ltd. Acquires 35,546 Shares of Bridgewater Bancshares, Inc. (NASDAQ:BWB)

Russell Investments Group Ltd. lifted its holdings in Bridgewater Bancshares, Inc. (NASDAQ:BWB) by 25.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 173,198 shares of the company’s stock after acquiring an additional 35,546 shares during the period. Russell Investments Group Ltd. owned 0.62% of Bridgewater Bancshares worth $2,342,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. New York State Common Retirement Fund increased its position in shares of Bridgewater Bancshares by 28.4% during the fourth quarter. New York State Common Retirement Fund now owns 4,074 shares of the company’s stock worth $55,000 after acquiring an additional 900 shares during the period. Sippican Capital Advisors purchased a new position in shares of Bridgewater Bancshares during the fourth quarter worth approximately $543,000. Strs Ohio increased its position in shares of Bridgewater Bancshares by 41.2% during the fourth quarter. Strs Ohio now owns 46,300 shares of the company’s stock worth $625,000 after acquiring an additional 13,500 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Bridgewater Bancshares by 22.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 32,946 shares of the company’s stock worth $445,000 after acquiring an additional 6,126 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Bridgewater Bancshares during the fourth quarter worth approximately $157,000. Institutional investors own 65.83% of the company’s stock.

Insiders Place Their Bets

In other news, Director James S. Johnson sold 12,590 shares of Bridgewater Bancshares 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 directly owns 94,063 shares in the company, valued at $1,093,012.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 23.21% of the company’s stock.

Bridgewater Bancshares Price Performance

NASDAQ BWB opened at $11.74 on Wednesday. The firm’s fifty day simple moving average is $11.55 and its two-hundred day simple moving average is $11.69. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.08. Bridgewater Bancshares, Inc. has a 12-month low of $8.00 and a 12-month high of $14.43. The firm has a market capitalization of $321.32 million, a P/E ratio of 10.39 and a beta of 0.66.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BWB. Hovde Group began coverage on shares of Bridgewater Bancshares in a research report on Monday, March 4th. They set an “outperform” rating on the stock. TheStreet lowered shares of Bridgewater Bancshares from a “b-” rating to a “c+” rating in a research report on Monday, March 11th. DA Davidson lifted their price objective on shares of Bridgewater Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, January 26th. Finally, Piper Sandler reissued an “overweight” rating and set a $14.00 price objective (down from $14.50) on shares of Bridgewater Bancshares in a report on Friday, April 26th.

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.