Short Interest in Bridgewater Bancshares, Inc. (NASDAQ:BWB) Decreases By 18.1%

Bridgewater Bancshares, Inc. (NASDAQ:BWB - Get Free Report) was the target of a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 106,400 shares, a drop of 18.1% from the March 31st total of 129,900 shares. Based on an average daily trading volume, of 77,700 shares, the days-to-cover ratio is presently 1.4 days. Approximately 0.5% of the shares of the company are sold short.

Bridgewater Bancshares Price Performance

Shares of NASDAQ BWB traded down $0.02 during trading on Wednesday, reaching $15.62. The company had a trading volume of 15,641 shares, compared to its average volume of 61,287. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $431.05 million, a PE ratio of 15.17 and a beta of 0.55. The business's 50 day moving average price is $13.79 and its 200-day moving average price is $14.16. Bridgewater Bancshares has a 52 week low of $10.52 and a 52 week high of $16.00.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. Bridgewater Bancshares had a return on equity of 8.85% and a net margin of 12.96%. The company had revenue of $32.29 million during the quarter, compared to the consensus estimate of $29.88 million. Analysts expect that Bridgewater Bancshares will post 1.38 earnings per share for the current year.

Institutional Investors Weigh In On Bridgewater Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Picton Mahoney Asset Management acquired a new position in shares of Bridgewater Bancshares during the 4th quarter worth approximately $28,000. Tower Research Capital LLC TRC increased its position in Bridgewater Bancshares by 266.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,358 shares of the company's stock worth $45,000 after buying an additional 2,441 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Bridgewater Bancshares by 17.6% in the fourth quarter. SG Americas Securities LLC now owns 8,326 shares of the company's stock valued at $112,000 after buying an additional 1,248 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Bridgewater Bancshares in the 4th quarter valued at $157,000. Finally, Wells Fargo & Company MN raised its position in shares of Bridgewater Bancshares by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 11,667 shares of the company's stock valued at $158,000 after purchasing an additional 2,540 shares during the period. 65.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BWB. DA Davidson restated a "buy" rating and set a $18.00 target price on shares of Bridgewater Bancshares in a research note on Thursday, January 30th. Piper Sandler restated an "overweight" rating and set a $18.00 price objective on shares of Bridgewater Bancshares in a report on Friday, April 25th.

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.