Assenagon Asset Management S.A. Boosts Stake in Bridgewater Bancshares, Inc. $BWB

Assenagon Asset Management S.A. lifted its holdings in Bridgewater Bancshares, Inc. (NASDAQ:BWB) by 118.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,182 shares of the company’s stock after purchasing an additional 38,531 shares during the period. Assenagon Asset Management S.A. owned about 0.26% of Bridgewater Bancshares worth $1,248,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. BNP Paribas Financial Markets grew its holdings in Bridgewater Bancshares by 78.1% in the second quarter. BNP Paribas Financial Markets now owns 2,385 shares of the company’s stock valued at $38,000 after purchasing an additional 1,046 shares during the period. CWM LLC lifted its position in shares of Bridgewater Bancshares by 118.0% during the 3rd quarter. CWM LLC now owns 5,369 shares of the company’s stock valued at $94,000 after buying an additional 2,906 shares in the last quarter. Palouse Capital Management Inc. acquired a new stake in Bridgewater Bancshares in the 3rd quarter valued at $113,000. AQR Capital Management LLC acquired a new stake in Bridgewater Bancshares in the 1st quarter valued at $178,000. Finally, Brevan Howard Capital Management LP purchased a new stake in Bridgewater Bancshares in the 3rd quarter worth $232,000. Institutional investors and hedge funds own 65.83% of the company’s stock.

Bridgewater Bancshares Stock Up 0.7%

Shares of NASDAQ:BWB opened at $17.70 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.13. The business has a fifty day moving average of $18.42 and a two-hundred day moving average of $17.78. The stock has a market cap of $492.41 million, a P/E ratio of 11.80 and a beta of 0.64. Bridgewater Bancshares, Inc. has a 52-week low of $11.93 and a 52-week high of $20.30.

Bridgewater Bancshares (NASDAQ:BWB) last posted its quarterly earnings results on Tuesday, January 27th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $38.84 million for the quarter, compared to analyst estimates of $36.10 million. Bridgewater Bancshares had a return on equity of 10.84% and a net margin of 15.74%. On average, research analysts expect that Bridgewater Bancshares, Inc. will post 1.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BWB. Piper Sandler reaffirmed an “overweight” rating and set a $23.00 price objective (up from $21.00) on shares of Bridgewater Bancshares in a report on Thursday, January 29th. DA Davidson set a $24.00 price target on shares of Bridgewater Bancshares in a research report on Thursday, January 29th. Weiss Ratings raised shares of Bridgewater Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, March 19th. Finally, Stephens assumed coverage on Bridgewater Bancshares in a report on Wednesday, December 10th. They issued an “equal weight” rating and a $20.00 price objective on the stock. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Bridgewater Bancshares currently has an average rating of “Moderate Buy” and an average target price of $22.33.

Insider Buying and Selling

In other Bridgewater Bancshares news, Director Thomas P. Trutna sold 13,000 shares of Bridgewater Bancshares stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $19.51, for a total transaction of $253,630.00. Following the transaction, the director directly owned 82,634 shares of the company’s stock, valued at $1,612,189.34. The trade was a 13.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James S. Johnson sold 4,712 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $19.71, for a total value of $92,873.52. Following the sale, the director directly owned 95,348 shares of the company’s stock, valued at $1,879,309.08. The trade was a 4.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 27,550 shares of company stock worth $532,343. Insiders own 23.10% of the company’s stock.

Bridgewater Bancshares Profile

Bridgewater Bancshares, Inc is the bank holding company for Bridgewater Bank, a New Jersey-chartered community bank founded in 2006. Headquartered in Bridgewater, New Jersey, the company provides a broad array of financial services designed to meet the needs of both individual and business customers. As a locally focused institution, Bridgewater Bancshares emphasizes relationship banking, combining personalized service with the efficiency of modern banking technologies.

The company’s retail banking platform offers checking and savings accounts, certificates of deposit, money market accounts and consumer loan products.