Hillsdale Investment Management Inc. Makes New $2.69 Million Investment in Bridgewater Bancshares, Inc. $BWB

Hillsdale Investment Management Inc. purchased a new stake in Bridgewater Bancshares, Inc. (NASDAQ:BWB) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 152,860 shares of the company’s stock, valued at approximately $2,690,000. Hillsdale Investment Management Inc. owned about 0.55% of Bridgewater Bancshares at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted 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 acquiring an additional 1,046 shares during the last quarter. CWM LLC boosted its stake in shares of Bridgewater Bancshares by 182.1% in the 2nd quarter. CWM LLC now owns 2,463 shares of the company’s stock valued at $39,000 after purchasing an additional 1,590 shares during the last quarter. Palouse Capital Management Inc. bought a new stake in shares of Bridgewater Bancshares in the 3rd quarter valued at $113,000. AQR Capital Management LLC acquired a new stake in shares of Bridgewater Bancshares during the first quarter worth $178,000. Finally, Quantinno Capital Management LP bought a new position in Bridgewater Bancshares during the second quarter worth $259,000. Institutional investors and hedge funds own 65.83% of the company’s stock.

Bridgewater Bancshares Price Performance

Shares of NASDAQ BWB opened at $19.33 on Monday. The firm has a market capitalization of $533.12 million, a P/E ratio of 12.89 and a beta of 0.65. The firm’s 50-day moving average price is $18.62 and its 200-day moving average price is $17.48. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.19. Bridgewater Bancshares, Inc. has a 1-year low of $11.93 and a 1-year high of $20.30.

Bridgewater Bancshares (NASDAQ:BWB) last issued its earnings results on Tuesday, January 27th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. Bridgewater Bancshares had a return on equity of 11.07% and a net margin of 15.74%.The business had revenue of $38.84 million during the quarter, compared to analyst estimates of $36.10 million. Equities research analysts anticipate that Bridgewater Bancshares, Inc. will post 1.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BWB has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Bridgewater Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Stephens assumed coverage on 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. Piper Sandler restated an “overweight” rating and set a $23.00 target price (up previously from $21.00) on shares of Bridgewater Bancshares in a research report on Thursday, January 29th. Finally, DA Davidson set a $24.00 target price on 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.33.

Insider Activity

In other news, CFO Joseph M. Chybowski sold 5,211 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $18.05, for a total transaction of $94,058.55. Following the completion of the sale, the chief financial officer owned 105,349 shares in the company, valued at $1,901,549.45. The trade was a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jerry J. Baack sold 13,039 shares of Bridgewater Bancshares stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $17.97, for a total transaction of $234,310.83. Following the completion of the sale, the chief executive officer directly owned 1,162,264 shares of the company’s stock, valued at approximately $20,885,884.08. The trade was a 1.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 89,982 shares of company stock valued at $1,649,309. Corporate insiders own 23.27% 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.