Ancora Advisors LLC Acquires Shares of 238,580 Bridgewater Bancshares, Inc. $BWB

Key Points

• Ancora Advisors acquired 238,580 shares of Bridgewater Bancshares in the second quarter, worth approximately $5.02 million and representing about 0.86% of the company. Institutional investors collectively own 65.83% of the stock.
• Analysts have become more bullish, with Piper Sandler and Stephens upgrading the shares and the stock receiving a “Moderate Buy” consensus rating with an average price target of $23.67.
• BWB recently traded at $21.16 after reporting quarterly EPS of $0.45, in line with estimates, while insiders sold 324,933 shares worth approximately $6.88 million over the past three months.

Ancora Advisors LLC purchased a new position in shares of Bridgewater Bancshares, Inc. (NASDAQ:BWB - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 238,580 shares of the company's stock, valued at approximately $5,020,000. Ancora Advisors LLC owned approximately 0.86% of Bridgewater Bancshares at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Bridgewater Bancshares during the second quarter worth approximately $32,000. Legal & General Group Plc bought a new position in shares of Bridgewater Bancshares during the second quarter valued at $45,000. BNP Paribas Financial Markets grew its stake in Bridgewater Bancshares by 78.1% during the second quarter. BNP Paribas Financial Markets now owns 2,385 shares of the company's stock worth $38,000 after buying an additional 1,046 shares during the last quarter. LPL Financial LLC grew its position in Bridgewater Bancshares by 7.8% during the 4th quarter. LPL Financial LLC now owns 11,770 shares of the company's stock worth $206,000 after acquiring an additional 855 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Bridgewater Bancshares by 14.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,419 shares of the company's stock worth $218,000 after purchasing an additional 1,535 shares during the last quarter. Institutional investors and hedge funds own 65.83% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BWB shares. 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. Piper Sandler lifted their price objective on Bridgewater Bancshares from $23.00 to $24.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Finally, 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 report on Thursday, August 6th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Bridgewater Bancshares has an average rating of "Moderate Buy" and an average price target of $23.67.

Bridgewater Bancshares Stock Up 0.2%

BWB stock opened at $21.16 on Thursday. Bridgewater Bancshares, Inc. has a 12 month low of $15.91 and a 12 month high of $22.62. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $589.94 million, a P/E ratio of 11.50 and a beta of 0.57. The firm has a 50-day moving average price of $21.25 and a 200-day moving average price of $19.48.

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

Insider Activity

In other news, CEO Jerry J. Baack sold 15,900 shares of the company's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $20.80, for a total transaction of $330,720.00. Following the sale, the chief executive officer directly owned 1,170,103 shares in the company, valued at $24,338,142.40. This represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeffrey D. Shellberg sold 160,000 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $21.04, for a total value of $3,366,400.00. Following the completion of the sale, the director owned 106,187 shares in the company, valued at $2,234,174.48. This trade represents a 60.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 324,933 shares of company stock valued at $6,884,845 in the last three months. 23.10% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding BWB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bridgewater Bancshares, Inc. (NASDAQ:BWB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source