BlackRock Inc. Takes Position in Bridgewater Bancshares, Inc. $BWB

Key Points

• BlackRock acquired 1.77 million Bridgewater Bancshares shares worth approximately $37.1 million, giving it a 6.33% stake. Institutional investors and hedge funds collectively own 65.83% of the company.
• Bridgewater Bancshares reported quarterly EPS of $0.45, in line with analyst expectations, while revenue of $40.89 million fell slightly short of estimates. The stock was trading near $20.92, with a market capitalization of about $583 million.
• Analyst sentiment is positive, with four Buy ratings and one Hold; the average price target is $23.67. Meanwhile, company insiders sold 326,391 shares worth approximately $6.9 million during the quarter.

BlackRock Inc. purchased a new position in Bridgewater Bancshares, Inc. (NASDAQ:BWB - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,765,449 shares of the company's stock, valued at approximately $37,145,000. BlackRock Inc. owned about 6.33% of Bridgewater Bancshares at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Deutsche Bank AG bought a new stake in shares of Bridgewater Bancshares in the 2nd quarter worth about $447,000. Bank of New York Mellon Corp acquired a new position in Bridgewater Bancshares in the second quarter worth about $1,329,000. NewEdge Advisors LLC bought a new stake in Bridgewater Bancshares in the first quarter valued at about $263,000. Bank of America Corp DE raised its position in Bridgewater Bancshares by 14.4% in the first quarter. Bank of America Corp DE now owns 20,759 shares of the company's stock worth $367,000 after acquiring an additional 2,615 shares in the last quarter. Finally, Rhino Investment Partners Inc lifted its holdings in Bridgewater Bancshares by 5.5% in the 1st quarter. Rhino Investment Partners Inc now owns 430,456 shares of the company's stock valued at $7,619,000 after acquiring an additional 22,502 shares during the last quarter. 65.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Mary Jayne Crocker sold 11,000 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $21.04, for a total value of $231,440.00. Following the completion of the transaction, the director directly owned 224,384 shares in the company, valued at approximately $4,721,039.36. The trade was a 4.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David B. Juran sold 25,000 shares of Bridgewater Bancshares stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $21.74, for a total transaction of $543,500.00. Following the completion of the transaction, the director directly owned 81,301 shares in the company, valued at approximately $1,767,483.74. The trade was a 23.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 326,391 shares of company stock worth $6,916,230. 23.10% of the stock is owned by corporate insiders.

Bridgewater Bancshares Price Performance

Shares of BWB stock opened at $20.92 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.05 and a quick ratio of 1.05. The stock's fifty day simple moving average is $21.35 and its 200 day simple moving average is $19.52. Bridgewater Bancshares, Inc. has a one year low of $15.91 and a one year high of $22.62. The firm has a market cap of $583.25 million, a price-to-earnings ratio of 11.37 and a beta of 0.58.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The company reported $0.45 EPS for the quarter, meeting analysts' consensus estimates of $0.45. The firm 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, analysts expect that Bridgewater Bancshares, Inc. will post 1.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on BWB shares. Piper Sandler increased their price objective on 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 research note 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 target price for the company in a research report on Thursday, August 6th. Four research 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.com, Bridgewater Bancshares presently has an average rating of "Moderate Buy" and an average target price of $23.67.

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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