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

Bridgewater Bancshares, Inc. (NASDAQ:BWB) was the target of a significant decline in short interest during the month of 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. Currently, 1.2% of the company’s stock are sold short. Based on an average trading volume of 63,500 shares, the days-to-cover ratio is presently 3.7 days.

Bridgewater Bancshares Price Performance

NASDAQ BWB opened at $11.17 on Thursday. The stock has a market capitalization of $309.52 million, a P/E ratio of 8.87 and a beta of 0.65. Bridgewater Bancshares has a 1 year low of $7.90 and a 1 year high of $14.43. The business’s fifty day moving average is $11.64 and its two-hundred day moving average is $11.38. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.03 and a current ratio of 1.03.

Bridgewater Bancshares (NASDAQ:BWB) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.02. The company had revenue of $26.72 million for the quarter, compared to analysts’ expectations of $26.70 million. Bridgewater Bancshares had a return on equity of 11.53% and a net margin of 17.46%. On average, research analysts forecast that Bridgewater Bancshares will post 1.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Transactions at Bridgewater Bancshares

In other news, CEO Jerry J. Baack sold 15,687 shares of Bridgewater Bancshares stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $13.11, for a total transaction of $205,656.57. Following the sale, the chief executive officer now directly owns 1,237,351 shares of the company’s stock, valued at $16,221,671.61. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director James S. Johnson sold 12,590 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $1,093,012.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jerry J. Baack sold 15,687 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $13.11, for a total value of $205,656.57. Following the completion of the sale, the chief executive officer now 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. Corporate insiders own 23.21% of the company’s stock.

Institutional Trading of Bridgewater Bancshares

Large investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in Bridgewater Bancshares by 16.7% during the 3rd quarter. FMR LLC now owns 1,647,159 shares of the company’s stock valued at $15,615,000 after purchasing an additional 236,281 shares during the period. Strs Ohio raised its stake in Bridgewater Bancshares by 212.4% during the 3rd quarter. Strs Ohio now owns 32,800 shares of the company’s stock valued at $310,000 after purchasing an additional 22,300 shares during the period. Tower Research Capital LLC TRC raised its stake in Bridgewater Bancshares by 300.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,861 shares of the company’s stock valued at $79,000 after purchasing an additional 4,396 shares during the period. SG Americas Securities LLC acquired a new stake in Bridgewater Bancshares during the 4th quarter valued at $157,000. Finally, Banc Funds Co. LLC raised its stake in Bridgewater Bancshares by 196.3% during the 4th quarter. Banc Funds Co. LLC now owns 186,704 shares of the company’s stock valued at $2,524,000 after purchasing an additional 123,695 shares during the period. 65.83% of the stock is owned by institutional investors and hedge funds.

Bridgewater Bancshares Company Profile

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.