Bleakley Financial Group LLC Takes $1.53 Million Position in Bridgewater Bancshares, Inc. $BWB

Key Points

• Bleakley Financial Group opened a new position in Bridgewater Bancshares, buying 86,733 shares valued at about $1.53 million in the first quarter.
• Other institutional investors also increased or initiated stakes, and hedge funds now own 65.83% of Bridgewater Bancshares shares, indicating strong institutional interest.
• The stock rose 3.1% to $22.49, while recent earnings showed $0.41 EPS versus the $0.42 estimate; analysts still maintain a Moderate Buy rating with a $21.67 average target.

Bleakley Financial Group LLC purchased a new stake in Bridgewater Bancshares, Inc. (NASDAQ:BWB - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 86,733 shares of the company's stock, valued at approximately $1,535,000. Bleakley Financial Group LLC owned 0.31% of Bridgewater Bancshares as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of BWB. AQR Capital Management LLC acquired a new position in Bridgewater Bancshares during the 1st quarter worth about $178,000. Empowered Funds LLC increased its position in Bridgewater Bancshares by 10.1% during the 1st quarter. Empowered Funds LLC now owns 19,170 shares of the company's stock valued at $266,000 after purchasing an additional 1,752 shares during the period. Jane Street Group LLC bought a new position in Bridgewater Bancshares during the 1st quarter worth approximately $357,000. Rhumbline Advisers lifted its position in shares of Bridgewater Bancshares by 21.3% in the 2nd quarter. Rhumbline Advisers now owns 35,416 shares of the company's stock worth $563,000 after purchasing an additional 6,230 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Bridgewater Bancshares by 87.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 217,530 shares of the company's stock valued at $3,461,000 after purchasing an additional 101,628 shares during the last quarter. Institutional investors and hedge funds own 65.83% of the company's stock.

Bridgewater Bancshares Trading Up 3.1%

NASDAQ BWB opened at $22.49 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.96. The business has a fifty day simple moving average of $19.81 and a 200 day simple moving average of $18.87. Bridgewater Bancshares, Inc. has a 12 month low of $14.90 and a 12 month high of $22.59. The firm has a market capitalization of $627.02 million, a P/E ratio of 12.71 and a beta of 0.57.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). Bridgewater Bancshares had a return on equity of 11.06% and a net margin of 17.69%.The firm had revenue of $38.96 million for the quarter, compared to analysts' expectations of $36.93 million. On average, analysts predict that Bridgewater Bancshares, Inc. will post 1.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BWB shares. Weiss Ratings upgraded Bridgewater Bancshares from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, June 18th. DA Davidson reaffirmed a "buy" rating and set a $22.00 target price on shares of Bridgewater Bancshares in a research note on Wednesday, April 22nd. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Bridgewater Bancshares currently has an average rating of "Moderate Buy" and a consensus price target of $21.67.

Insider Transactions at Bridgewater Bancshares

In other news, COO Lisa M. Salazar sold 4,162 shares of the business's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $18.55, for a total value of $77,205.10. Following the transaction, the chief operating officer owned 36,077 shares in the company, valued at $669,228.35. The trade was a 10.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Joseph M. Chybowski sold 7,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $18.96, for a total value of $132,720.00. Following the sale, the chief financial officer directly owned 118,501 shares of the company's stock, valued at $2,246,778.96. The trade was a 5.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 62,375 shares of company stock worth $1,161,104. 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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