Bridgewater Bancshares, Inc. (NASDAQ:BWB) Sees Significant Decrease in Short Interest

Bridgewater Bancshares, Inc. (NASDAQ:BWB) was the recipient of a large decline in short interest in 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 volume of 63,500 shares, the days-to-cover ratio is currently 3.7 days. Currently, 1.2% of the company’s stock are sold short.

Bridgewater Bancshares Stock Up 0.1 %

BWB opened at $11.17 on Thursday. The business has a 50 day moving average price of $11.64 and a two-hundred day moving average price of $11.38. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.11. The company has a market cap of $309.52 million, a PE ratio of 8.87 and a beta of 0.65. Bridgewater Bancshares has a 52 week low of $7.90 and a 52 week high of $14.43.

Bridgewater Bancshares (NASDAQ:BWB) last posted 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 the consensus estimate of $26.70 million. Bridgewater Bancshares had a return on equity of 11.53% and a net margin of 17.46%. As a group, research analysts anticipate that Bridgewater Bancshares will post 1.13 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on BWB. Piper Sandler reissued an “overweight” rating and issued a $15.50 target price on shares of Bridgewater Bancshares in a report on Wednesday, January 17th. Hovde Group began coverage on Bridgewater Bancshares in a report on Monday, March 4th. They issued an “outperform” rating for the company. TheStreet downgraded Bridgewater Bancshares from a “b-” rating to a “c+” rating in a report on Monday, March 11th. Finally, DA Davidson boosted their target price on Bridgewater Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, January 26th.

Insider Buying and Selling

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

Institutional Trading of Bridgewater Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in BWB. Bank of New York Mellon Corp raised its stake in Bridgewater Bancshares by 5.3% during the 1st quarter. Bank of New York Mellon Corp now owns 80,785 shares of the company’s stock valued at $1,347,000 after acquiring an additional 4,035 shares during the last quarter. American Century Companies Inc. raised its stake in Bridgewater Bancshares by 28.3% during the 1st quarter. American Century Companies Inc. now owns 95,131 shares of the company’s stock valued at $1,587,000 after acquiring an additional 20,980 shares during the last quarter. D.A. Davidson & CO. acquired a new position in Bridgewater Bancshares during the 1st quarter worth approximately $173,000. MetLife Investment Management LLC increased its position in Bridgewater Bancshares by 52.2% during the 1st quarter. MetLife Investment Management LLC now owns 12,609 shares of the company’s stock worth $210,000 after purchasing an additional 4,324 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Bridgewater Bancshares by 10.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 399,704 shares of the company’s stock worth $6,667,000 after purchasing an additional 37,471 shares during the period. 65.83% of the stock is owned by hedge funds and other institutional investors.

About Bridgewater Bancshares

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.