Millennium Management LLC Sells 28,999 Shares of Bridgewater Bancshares, Inc. (NASDAQ:BWB)

Millennium Management LLC lessened its stake in shares of Bridgewater Bancshares, Inc. (NASDAQ:BWB - Free Report) by 73.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,405 shares of the company's stock after selling 28,999 shares during the period. Millennium Management LLC's holdings in Bridgewater Bancshares were worth $141,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BWB. Next Century Growth Investors LLC bought a new stake in shares of Bridgewater Bancshares in the 4th quarter worth about $3,989,000. Fourthstone LLC acquired a new stake in Bridgewater Bancshares in the fourth quarter worth about $2,856,000. Basswood Capital Management L.L.C. acquired a new stake in Bridgewater Bancshares during the 4th quarter worth about $2,749,000. JPMorgan Chase & Co. lifted its holdings in shares of Bridgewater Bancshares by 303.8% in the 4th quarter. JPMorgan Chase & Co. now owns 123,417 shares of the company's stock valued at $1,667,000 after buying an additional 92,855 shares during the period. Finally, Stieven Capital Advisors L.P. grew its position in Bridgewater Bancshares by 56.1% during the fourth quarter. Stieven Capital Advisors L.P. now owns 239,989 shares of the company's stock valued at $3,242,000 after buying an additional 86,200 shares during the period. Institutional investors own 65.83% of the company's stock.

Analyst Ratings Changes

Separately, Piper Sandler restated an "overweight" rating and set a $18.00 target price on shares of Bridgewater Bancshares in a report on Friday, April 25th.

Bridgewater Bancshares Price Performance

Bridgewater Bancshares stock traded down $0.41 during mid-day trading on Friday, reaching $14.85. The company had a trading volume of 63,019 shares, compared to its average volume of 64,294. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.02 and a quick ratio of 1.02. Bridgewater Bancshares, Inc. has a 1 year low of $10.66 and a 1 year high of $16.34. The company has a market capitalization of $407.48 million, a P/E ratio of 14.42 and a beta of 0.52. The stock's 50-day simple moving average is $14.53 and its 200-day simple moving average is $14.22.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. Bridgewater Bancshares had a net margin of 12.96% and a return on equity of 8.85%. The firm had revenue of $32.29 million during the quarter, compared to the consensus estimate of $29.88 million. On average, equities analysts predict that Bridgewater Bancshares, Inc. will post 1.38 EPS for the current year.

Insider Buying and Selling at Bridgewater Bancshares

In related news, COO Lisa M. Salazar sold 3,737 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $14.40, for a total value of $53,812.80. Following the completion of the transaction, the chief operating officer now owns 32,335 shares in the company, valued at $465,624. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas P. Trutna sold 2,200 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $15.78, for a total value of $34,716.00. Following the completion of the transaction, the director now directly owns 100,031 shares in the company, valued at $1,578,489.18. The trade was a 2.15% decrease in their position. The disclosure for this sale can be found here. 23.27% of the stock is owned by company insiders.

Bridgewater Bancshares Profile

Bridgewater Bancshares, Inc operates as the bank holding company for Bridgewater Bank that provides banking products and services to commercial real estate investors, entrepreneurs, business clients, and individuals in the United States. The company provides savings and money market accounts, demand deposits, time and brokered deposits, and interest and noninterest bearing transaction, as well as certificates of deposit.