Empowered Funds LLC Invests $2.09 Million in Bridgewater Bancshares, Inc. $BWB

Key Points

• Empowered Funds LLC acquired 99,128 shares of Bridgewater Bancshares worth approximately $2.09 million, while institutional investors collectively own 65.83% of the company.
• Analyst sentiment is favorable, with four Buy ratings and one Hold rating producing a consensus “Moderate Buy” rating and an average price target of $23.67.
• Bridgewater Bancshares reported quarterly EPS of $0.45, matching estimates, and revenue of $40.89 million; however, insiders sold 315,326 shares worth about $6.71 million over the past 90 days.

Empowered Funds LLC acquired a new stake in shares of Bridgewater Bancshares, Inc. (NASDAQ:BWB - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 99,128 shares of the company's stock, valued at approximately $2,086,000. Empowered Funds LLC owned approximately 0.36% of Bridgewater Bancshares as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Punch & Associates Investment Management Inc. bought a new stake in shares of Bridgewater Bancshares during the second quarter valued at approximately $9,145,000. Bank of America Corp DE bought a new stake in shares of Bridgewater Bancshares in the 2nd quarter worth $423,000. Ancora Advisors LLC bought a new stake in shares of Bridgewater Bancshares in the 2nd quarter worth $5,020,000. Canada Pension Plan Investment Board purchased a new position in shares of Bridgewater Bancshares in the second quarter worth $482,000. Finally, Legal & General Group Plc purchased a new position in shares of Bridgewater Bancshares in the second quarter worth $45,000. Institutional investors own 65.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BWB. Piper Sandler increased their price objective on Bridgewater Bancshares from $23.00 to $24.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Weiss Ratings raised Bridgewater Bancshares from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, June 18th. Finally, Stephens upgraded shares of Bridgewater Bancshares from an "equal weight" rating to an "overweight" rating and set a $25.00 target price 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 given a Hold rating to the company. According to data from MarketBeat.com, Bridgewater Bancshares currently has a consensus rating of "Moderate Buy" and an average target price of $23.67.

Insider Buying and Selling at Bridgewater Bancshares

In other news, Director David Juran sold 25,000 shares of the business's stock in a transaction 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 sale, the director owned 81,301 shares of the company's stock, valued at $1,767,483.74. The trade was a 23.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeffrey 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 value of $850,400.00. Following the completion of the sale, the director owned 66,187 shares of the company's stock, valued at $1,407,135.62. This trade represents a 37.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 315,326 shares of company stock worth $6,706,566. 23.10% of the stock is currently owned by insiders.

Bridgewater Bancshares Price Performance

NASDAQ BWB opened at $21.54 on Friday. The company has a 50-day moving average price of $21.38 and a 200-day moving average price of $19.55. Bridgewater Bancshares, Inc. has a 52 week low of $15.91 and a 52 week high of $22.62. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $600.54 million, a P/E ratio of 11.71 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 (EPS) for the quarter, hitting analysts' consensus estimates of $0.45. Bridgewater Bancshares had a net margin of 18.38% and a return on equity of 11.21%. The company had revenue of $40.89 million for the quarter, compared to the consensus estimate of $41.43 million. Equities research analysts anticipate that Bridgewater Bancshares, Inc. will post 1.85 earnings per share for the current year.

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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