Bridgewater Bancshares (NASDAQ:BWB) Director Jeffrey Shellberg Sells 8,174 Shares

Key Points

• Director Jeffrey Shellberg sold 8,174 shares of Bridgewater Bancshares at an average price of $18.45, totaling about $150,810. After the sale, he still held 45,000 shares.
• Bridgewater Bancshares reported mixed quarterly results, posting EPS of $0.41 versus the $0.42 consensus estimate, while revenue of $38.96 million came in above expectations.
• Wall Street remains moderately bullish on BWB, with three Buy ratings, two Hold ratings, and a consensus price target of $21.67.

Bridgewater Bancshares, Inc. (NASDAQ:BWB - Get Free Report) Director Jeffrey Shellberg sold 8,174 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $18.45, for a total value of $150,810.30. Following the transaction, the director directly owned 45,000 shares in the company, valued at approximately $830,250. This trade represents a 15.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Bridgewater Bancshares Stock Performance

BWB traded up $0.01 during trading hours on Friday, reaching $18.52. The company's stock had a trading volume of 70,732 shares, compared to its average volume of 75,908. Bridgewater Bancshares, Inc. has a 52 week low of $14.35 and a 52 week high of $20.30. The firm has a market cap of $515.30 million, a PE ratio of 10.46 and a beta of 0.58. The company's 50-day moving average is $18.10 and its 200-day moving average is $18.02. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.06 and a current ratio of 1.06.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last posted its earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). The company had revenue of $38.96 million for the quarter, compared to analyst estimates of $36.93 million. Bridgewater Bancshares had a return on equity of 11.06% and a net margin of 17.69%. On average, equities analysts forecast that Bridgewater Bancshares, Inc. will post 1.85 EPS for the current year.

Hedge Funds Weigh In On Bridgewater Bancshares

Several hedge funds have recently bought and sold shares of the company. Alliancebernstein L.P. raised its position in shares of Bridgewater Bancshares by 181.8% in the 3rd quarter. Alliancebernstein L.P. now owns 1,282,210 shares of the company's stock valued at $22,567,000 after buying an additional 827,141 shares in the last quarter. Hodges Capital Management Inc. bought a new position in Bridgewater Bancshares in the fourth quarter valued at approximately $3,862,000. Ancora Advisors LLC bought a new position in Bridgewater Bancshares in the third quarter valued at approximately $3,426,000. Hillsdale Investment Management Inc. acquired a new position in Bridgewater Bancshares during the third quarter valued at approximately $2,690,000. Finally, Curi Capital LLC acquired a new position in Bridgewater Bancshares during the second quarter valued at approximately $2,029,000. 65.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

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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