86,368 Shares in Bridgewater Bancshares, Inc. $BWB Purchased by Daytona Street Capital LLC

Key Points

• Daytona Street Capital bought a new position of 86,368 shares of Bridgewater Bancshares in Q4 (≈$1.514M), leaving the fund with about 0.31% ownership as institutional investors now hold 65.83% of the stock.
• Analyst sentiment is positive with a consensus rating of "Moderate Buy" (three Buys, two Holds) and a consensus target price of $22.33, including recent targets of $23 (Piper Sandler) and $24 (DA Davidson).
• Company insiders have been net sellers recently—directors sold 27,550 shares (~$532,343) in the last 90 days—though insiders still own 23.10% of the company.

Daytona Street Capital LLC bought a new position in shares of Bridgewater Bancshares, Inc. (NASDAQ:BWB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 86,368 shares of the company's stock, valued at approximately $1,514,000. Daytona Street Capital LLC owned approximately 0.31% of Bridgewater Bancshares as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hillsdale Investment Management Inc. purchased a new position in Bridgewater Bancshares during the third quarter worth about $2,690,000. Villanova Investment Management Co LLC grew its position in Bridgewater Bancshares by 163.9% during the second quarter. Villanova Investment Management Co LLC now owns 152,710 shares of the company's stock worth $2,430,000 after buying an additional 94,841 shares in the last quarter. EJF Capital LLC grew its position in Bridgewater Bancshares by 20.2% during the third quarter. EJF Capital LLC now owns 195,642 shares of the company's stock worth $3,443,000 after buying an additional 32,875 shares in the last quarter. Squarepoint Ops LLC grew its position in Bridgewater Bancshares by 180.0% during the second quarter. Squarepoint Ops LLC now owns 50,396 shares of the company's stock worth $802,000 after buying an additional 32,398 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Bridgewater Bancshares by 118.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 71,182 shares of the company's stock worth $1,248,000 after buying an additional 38,531 shares in the last quarter. 65.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Weiss Ratings upgraded Bridgewater Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, March 19th. Stephens assumed coverage on Bridgewater Bancshares in a research report on Wednesday, December 10th. They issued an "equal weight" rating and a $20.00 target price for the company. Piper Sandler reaffirmed 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, DA Davidson set a $24.00 target price on Bridgewater Bancshares in a research note on Thursday, January 29th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $22.33.

Insider Activity at Bridgewater Bancshares

In related news, Director James S. Johnson sold 4,712 shares of the stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $19.71, for a total transaction of $92,873.52. Following the completion of the sale, the director directly owned 95,348 shares in the company, valued at $1,879,309.08. This represents a 4.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas P. Trutna sold 13,000 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $19.51, for a total value of $253,630.00. Following the sale, the director owned 82,634 shares of the company's stock, valued at $1,612,189.34. This represents a 13.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 27,550 shares of company stock worth $532,343 in the last ninety days. 23.10% of the stock is owned by company insiders.

Bridgewater Bancshares Stock Up 0.9%

Shares of BWB opened at $18.19 on Tuesday. The firm has a market cap of $506.05 million, a P/E ratio of 12.13 and a beta of 0.61. The stock has a 50 day simple moving average of $18.37 and a two-hundred day simple moving average of $17.81. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.02 and a quick ratio of 1.02. Bridgewater Bancshares, Inc. has a 1 year low of $11.93 and a 1 year high of $20.30.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last issued its earnings results on Tuesday, January 27th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $38.84 million during the quarter, compared to analyst estimates of $36.10 million. Bridgewater Bancshares had a return on equity of 10.84% and a net margin of 15.74%. On average, analysts forecast that Bridgewater Bancshares, Inc. will post 1.38 earnings per share for the current fiscal year.

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.

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