Bridgewater Bancshares (NASDAQ:BWB) Director Jeffrey Shellberg Sells 9,252 Shares

Bridgewater Bancshares, Inc. (NASDAQ:BWB) Director Jeffrey Shellberg sold 9,252 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $18.45, for a total value of $170,699.40. Following the completion of the transaction, the director owned 53,174 shares in the company, valued at $981,060.30. This represents a 14.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Bridgewater Bancshares Price Performance

Shares of NASDAQ:BWB traded up $0.01 on Friday, hitting $18.52. The company’s stock had a trading volume of 70,732 shares, compared to its average volume of 75,908. The company has a market capitalization of $515.30 million, a PE ratio of 10.46 and a beta of 0.58. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.06 and a quick ratio of 1.06. The company has a 50-day simple moving average of $18.10 and a 200 day simple moving average of $18.02. Bridgewater Bancshares, Inc. has a 1 year low of $14.35 and a 1 year high of $20.30.

Bridgewater Bancshares (NASDAQ:BWB) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). The company had revenue of $38.96 million during the quarter, compared to the consensus estimate of $36.93 million. Bridgewater Bancshares had a return on equity of 11.06% and a net margin of 17.69%. Sell-side analysts forecast that Bridgewater Bancshares, Inc. will post 1.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BWB. DA Davidson reaffirmed a “buy” rating and set a $22.00 price objective on shares of Bridgewater Bancshares in a report on Wednesday, April 22nd. Piper Sandler reissued an “overweight” rating and issued a $23.00 target price (up from $21.00) on shares of Bridgewater Bancshares in a research note on Thursday, January 29th. Finally, Weiss Ratings raised Bridgewater Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.67.

Institutional Investors Weigh In On Bridgewater Bancshares

A number of hedge funds have recently made changes to their positions in BWB. Alliancebernstein L.P. grew its holdings in shares of Bridgewater Bancshares by 181.8% during the 3rd quarter. Alliancebernstein L.P. now owns 1,282,210 shares of the company’s stock valued at $22,567,000 after purchasing an additional 827,141 shares during the last quarter. Vanguard Group Inc. lifted its stake in Bridgewater Bancshares by 2.3% in the third quarter. Vanguard Group Inc. now owns 1,154,890 shares of the company’s stock worth $20,326,000 after purchasing an additional 25,566 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Bridgewater Bancshares by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,058,471 shares of the company’s stock valued at $18,735,000 after buying an additional 25,899 shares during the period. Geode Capital Management LLC boosted its position in Bridgewater Bancshares by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 496,116 shares of the company’s stock valued at $8,699,000 after buying an additional 15,192 shares during the period. Finally, Punch & Associates Investment Management Inc. grew its stake in shares of Bridgewater Bancshares by 1.2% during the fourth quarter. Punch & Associates Investment Management Inc. now owns 438,960 shares of the company’s stock valued at $7,695,000 after buying an additional 5,000 shares during the last quarter. 65.83% of the stock is currently owned by institutional investors.

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.