95,165 Shares in Bridgewater Bancshares, Inc. $BWB Purchased by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management acquired 95,165 Bridgewater Bancshares shares worth approximately $2.0 million, while institutional investors collectively own 65.83% of the company.
• Analysts remain generally positive, with four Buy ratings and one Hold rating producing a consensus “Moderate Buy” rating and an average price target of $23.67.
• Bridgewater reported quarterly EPS of $0.45, matching estimates, on revenue of $40.89 million; the stock recently traded at $21.32, near its 12-month high of $22.62.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Bridgewater Bancshares, Inc. (NASDAQ:BWB - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 95,165 shares of the company's stock, valued at approximately $2,002,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.34% of Bridgewater Bancshares as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BWB. BlackRock Inc. acquired a new position in shares of Bridgewater Bancshares during the 2nd quarter worth approximately $37,145,000. Alliancebernstein L.P. raised its position in shares of Bridgewater Bancshares by 181.8% in the third 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. Vanguard Group Inc. boosted its stake in shares of Bridgewater Bancshares by 2.3% in the third quarter. Vanguard Group Inc. now owns 1,154,890 shares of the company's stock valued at $20,326,000 after buying an additional 25,566 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Bridgewater Bancshares by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,058,471 shares of the company's stock valued at $18,735,000 after buying an additional 25,899 shares during the period. Finally, Geode Capital Management LLC grew its position in Bridgewater Bancshares by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 496,116 shares of the company's stock worth $8,699,000 after buying an additional 15,192 shares in the last quarter. Institutional investors own 65.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Weiss Ratings upgraded 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, Piper Sandler increased their target price on Bridgewater Bancshares from $23.00 to $24.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Bridgewater Bancshares has a consensus rating of "Moderate Buy" and a consensus target price of $23.67.

Bridgewater Bancshares Price Performance

Shares of NASDAQ:BWB opened at $21.32 on Friday. The firm has a 50 day moving average of $21.31 and a 200-day moving average of $19.50. The stock has a market capitalization of $594.40 million, a PE ratio of 11.59 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, Inc. has a 12 month low of $15.91 and a 12 month high of $22.62.

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

Insiders Place Their Bets

In other Bridgewater Bancshares news, Director Jeffrey D. Shellberg sold 40,000 shares of the company's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $21.26, for a total transaction of $850,400.00. Following the completion of the sale, the director directly owned 66,187 shares in the company, valued at $1,407,135.62. This represents a 37.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jerry J. Baack sold 10,000 shares of the firm's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $22.48, for a total value of $224,800.00. Following the completion of the sale, the chief executive officer directly owned 1,123,769 shares in the company, valued at approximately $25,262,327.12. This represents a 0.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 325,873 shares of company stock valued at $6,905,093 over the last ninety days. Company insiders own 23.10% of the company's stock.

Bridgewater Bancshares 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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