Bank of New York Mellon Corp Makes New $1.33 Million Investment in Bridgewater Bancshares, Inc. $BWB

Key Points

• Bank of New York Mellon acquired 63,166 Bridgewater Bancshares shares worth approximately $1.33 million, while institutional investors and hedge funds collectively own 65.83% of BWB.
• Bridgewater Bancshares reported quarterly earnings of $0.45 per share, matching estimates, while revenue of $40.89 million fell slightly short of expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $23.67.
• BWB shares opened at $21.27, near their 52-week high, but insiders have sold 315,326 shares worth approximately $6.71 million over the past three months.

Bank of New York Mellon Corp acquired a new stake in shares of Bridgewater Bancshares, Inc. (NASDAQ:BWB - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 63,166 shares of the company's stock, valued at approximately $1,329,000. Bank of New York Mellon Corp owned about 0.23% of Bridgewater Bancshares as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of BWB. Bleakley Financial Group LLC acquired a new position in Bridgewater Bancshares during the first quarter valued at $1,535,000. Hillsdale Investment Management Inc. grew its stake 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 acquiring an additional 60,000 shares in the last quarter. Empowered Funds LLC grew its stake 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 acquiring an additional 40,890 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings 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 valued at $18,735,000 after purchasing an additional 25,899 shares during the period. Finally, Hodges Capital Management Inc. acquired a new position in shares of Bridgewater Bancshares in the 4th quarter valued at about $3,862,000. 65.83% of the stock is owned by institutional investors and hedge funds.

Bridgewater Bancshares Stock Down 0.7%

Bridgewater Bancshares stock opened at $21.27 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.05 and a quick ratio of 1.05. Bridgewater Bancshares, Inc. has a fifty-two week low of $16.06 and a fifty-two week high of $22.62. The firm has a fifty day moving average price of $21.42 and a two-hundred day moving average price of $19.62. The firm has a market cap of $593.01 million, a price-to-earnings ratio of 11.56 and a beta of 0.58.

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

Analyst Upgrades and Downgrades

BWB has been the subject of several research reports. Piper Sandler raised their price target on shares of Bridgewater Bancshares from $23.00 to $24.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Weiss Ratings upgraded shares of Bridgewater Bancshares from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, June 18th. Finally, Stephens raised shares of Bridgewater Bancshares from an "equal weight" rating to an "overweight" rating and set a $25.00 price target on the stock in a research note on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.67.

Insider Activity at Bridgewater Bancshares

In other Bridgewater Bancshares news, 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 sale, the chief executive officer directly owned 1,123,769 shares in the company, valued at $25,262,327.12. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey D. Shellberg sold 40,000 shares of the company's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $21.26, for a total transaction of $850,400.00. Following the transaction, the director directly owned 66,187 shares of the company's stock, valued at $1,407,135.62. This represents a 37.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 315,326 shares of company stock worth $6,706,566. Insiders own 23.10% of the company's stock.

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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