Bridgewater Bancshares (NASDAQ:BWB) CEO Sells 10,000 Shares

Key Points

• CEO Jerry Baack sold 10,000 shares of Bridgewater Bancshares at an average price of $22.03, generating $220,300; he retains 1,148,769 shares after the transaction.
• BWB shares were nearly flat at $22.23, near their 12-month high of $22.62. The company recently reported quarterly EPS of $0.45, matching analyst expectations, while revenue of $40.89 million fell slightly short of estimates.
• Analyst sentiment remains positive, with four Buy ratings and one Hold, a “Moderate Buy” consensus, and an average price target of $23.67. Institutional investors own 65.83% of the stock.

Bridgewater Bancshares, Inc. (NASDAQ:BWB - Get Free Report) CEO Jerry Baack sold 10,000 shares of Bridgewater Bancshares stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $22.03, for a total value of $220,300.00. Following the completion of the transaction, the chief executive officer owned 1,148,769 shares of the company's stock, valued at approximately $25,307,381.07. This trade represents a 0.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Bridgewater Bancshares Trading Down 0.0%

Shares of NASDAQ BWB traded down $0.01 during trading hours on Friday, hitting $22.23. 173,032 shares of the company traded hands, compared to its average volume of 121,172. The company's 50 day moving average price is $20.87 and its 200 day moving average price is $19.32. Bridgewater Bancshares, Inc. has a 12 month low of $15.35 and a 12 month high of $22.62. The stock has a market capitalization of $619.77 million, a price-to-earnings ratio of 12.08 and a beta of 0.57. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.90.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $0.45 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.45. The company had revenue of $40.89 million during the quarter, compared to the consensus estimate of $41.43 million. Bridgewater Bancshares had a return on equity of 11.21% and a net margin of 18.38%. On average, equities research analysts anticipate that Bridgewater Bancshares, Inc. will post 1.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bridgewater Bancshares

Hedge funds have recently added to or reduced their stakes in the stock. Bleakley Financial Group LLC purchased a new stake in Bridgewater Bancshares in the first quarter worth about $1,535,000. Hillsdale Investment Management Inc. increased its position in Bridgewater Bancshares by 39.3% during the 4th quarter. Hillsdale Investment Management Inc. now owns 212,860 shares of the company's stock valued at $3,731,000 after purchasing an additional 60,000 shares during the period. Empowered Funds LLC increased its position in Bridgewater Bancshares by 79.8% during the 1st quarter. Empowered Funds LLC now owns 92,109 shares of the company's stock valued at $1,630,000 after purchasing an additional 40,890 shares during the period. Hodges Capital Management Inc. bought a new stake in shares of Bridgewater Bancshares in the 4th quarter valued at about $3,862,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Bridgewater Bancshares by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,058,471 shares of the company's stock worth $18,735,000 after purchasing an additional 25,899 shares during the period. 65.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BWB shares. Piper Sandler lifted their price target on shares of Bridgewater Bancshares from $23.00 to $24.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Weiss Ratings raised shares of Bridgewater Bancshares from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, June 18th. Stephens upgraded Bridgewater Bancshares from an "equal weight" rating to an "overweight" rating and set a $25.00 target price for the company in a research report on Thursday, August 6th. Finally, DA Davidson reaffirmed a "buy" rating and set a $22.00 target price on shares of Bridgewater Bancshares in a research note on Wednesday, April 22nd. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $23.67.

Bridgewater Bancshares Company 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.

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