Hillsdale Investment Management Inc. Purchases 60,000 Shares of Bridgewater Bancshares, Inc. $BWB

Key Points

• Hillsdale Investment Management increased its stake in Bridgewater Bancshares by 39.3% in the fourth quarter, buying 60,000 additional shares to bring its total to 212,860 shares worth about $3.73 million.
• Analysts remain cautiously positive on BWB, with a consensus rating of “Moderate Buy” and an average price target of $21.67; DA Davidson also reiterated a $22 target.
• Recent insider selling included share sales by directors Mary Jayne Crocker and Jeffrey D. Shellberg, while institutional investors still hold 65.83% of the company’s stock.

Hillsdale Investment Management Inc. lifted its position in shares of Bridgewater Bancshares, Inc. (NASDAQ:BWB - Free Report) by 39.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 212,860 shares of the company's stock after purchasing an additional 60,000 shares during the period. Hillsdale Investment Management Inc. owned 0.77% of Bridgewater Bancshares worth $3,731,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Gator Capital Management LLC lifted its position in shares of Bridgewater Bancshares by 0.7% during the third quarter. Gator Capital Management LLC now owns 101,005 shares of the company's stock valued at $1,778,000 after purchasing an additional 680 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Bridgewater Bancshares by 78.1% during the second quarter. BNP Paribas Financial Markets now owns 2,385 shares of the company's stock valued at $38,000 after purchasing an additional 1,046 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Bridgewater Bancshares by 6.3% during the second quarter. First Trust Advisors LP now owns 17,826 shares of the company's stock valued at $284,000 after purchasing an additional 1,050 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of Bridgewater Bancshares by 1.6% during the third quarter. Two Sigma Investments LP now owns 92,884 shares of the company's stock valued at $1,635,000 after purchasing an additional 1,431 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in shares of Bridgewater Bancshares by 2.0% during the second quarter. Bridgeway Capital Management LLC now owns 78,240 shares of the company's stock valued at $1,245,000 after purchasing an additional 1,570 shares in the last quarter. 65.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BWB shares. DA Davidson reissued a "buy" rating and set a $22.00 price target on shares of Bridgewater Bancshares in a research report on Wednesday, April 22nd. Weiss Ratings raised shares of Bridgewater Bancshares from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Bridgewater Bancshares currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.67.

Bridgewater Bancshares Stock Performance

Shares of BWB stock opened at $18.86 on Monday. The firm has a market cap of $525.82 million, a price-to-earnings ratio of 10.66 and a beta of 0.58. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.06 and a current ratio of 1.06. Bridgewater Bancshares, Inc. has a 52 week low of $14.35 and a 52 week high of $20.30. The firm's 50-day simple moving average is $18.32 and its two-hundred day simple moving average is $18.21.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). The company had revenue of $38.96 million during the quarter, compared to the consensus estimate of $36.93 million. Bridgewater Bancshares had a return on equity of 11.06% and a net margin of 17.69%. As a group, equities analysts forecast that Bridgewater Bancshares, Inc. will post 1.85 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Mary Jayne Crocker sold 6,525 shares of Bridgewater Bancshares stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $18.50, for a total value of $120,712.50. Following the completion of the transaction, the director owned 209,502 shares in the company, valued at $3,875,787. This trade represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey D. Shellberg sold 20,000 shares of Bridgewater Bancshares stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $18.55, for a total transaction of $371,000.00. Following the completion of the transaction, the director owned 25,000 shares of the company's stock, valued at $463,750. The trade was a 44.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 50,687 shares of company stock valued at $938,046. Company insiders own 23.10% of the company's stock.

About Bridgewater Bancshares

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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