JPMorgan Chase & Co. Acquires 67,676 Shares of Bridgewater Bancshares, Inc. $BWB

JPMorgan Chase & Co. lifted its holdings in shares of Bridgewater Bancshares, Inc. (NASDAQ:BWB) by 124.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 122,117 shares of the company’s stock after purchasing an additional 67,676 shares during the quarter. JPMorgan Chase & Co. owned 0.44% of Bridgewater Bancshares worth $2,149,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BWB. Alliancebernstein L.P. increased its holdings in shares of Bridgewater Bancshares by 181.8% during the third quarter. Alliancebernstein L.P. now owns 1,282,210 shares of the company’s stock worth $22,567,000 after purchasing an additional 827,141 shares during the period. Ancora Advisors LLC bought a new position in shares of Bridgewater Bancshares during the third quarter worth approximately $3,426,000. Hillsdale Investment Management Inc. bought a new position in shares of Bridgewater Bancshares during the third quarter worth approximately $2,690,000. Curi Capital LLC bought a new position in shares of Bridgewater Bancshares during the second quarter worth approximately $2,029,000. Finally, Mendon Capital Advisors Corp bought a new position in shares of Bridgewater Bancshares during the second quarter worth approximately $2,029,000. 65.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Bridgewater Bancshares

In related news, Director James S. Johnson sold 4,712 shares of Bridgewater Bancshares stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $19.71, for a total value of $92,873.52. Following the transaction, the director directly owned 95,348 shares of the company’s stock, valued at $1,879,309.08. This trade represents a 4.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey D. Shellberg sold 9,838 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $18.89, for a total transaction of $185,839.82. Following the sale, the director directly owned 266,187 shares in the company, valued at approximately $5,028,272.43. The trade was a 3.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 27,550 shares of company stock valued at $532,343 over the last three months. 23.10% of the stock is owned by insiders.

Bridgewater Bancshares Stock Performance

Shares of NASDAQ:BWB opened at $18.19 on Tuesday. The company’s 50 day simple moving average is $18.37 and its 200 day simple moving average is $17.81. The stock has a market capitalization of $506.05 million, a price-to-earnings ratio of 12.13 and a beta of 0.61. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.02 and a quick ratio of 1.02. Bridgewater Bancshares, Inc. has a 1 year low of $11.93 and a 1 year high of $20.30.

Bridgewater Bancshares (NASDAQ:BWB) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $38.84 million for the quarter, compared to analysts’ expectations of $36.10 million. Bridgewater Bancshares had a net margin of 15.74% and a return on equity of 10.84%. As a group, research analysts predict that Bridgewater Bancshares, Inc. will post 1.38 EPS for the current fiscal year.

About Bridgewater Bancshares

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.