Insider Selling: Bridgewater Bancshares (NASDAQ:BWB) Director Sells 10,000 Shares of Company Stock

Key Points

• Director Todd Urness sold 10,000 Bridgewater Bancshares shares at an average price of $20.34, generating $203,400. He retained 856,722 shares after the transaction, a 1.15% reduction in his ownership.
• Bridgewater Bancshares recently exceeded quarterly expectations, reporting $0.49 EPS versus the $0.47 consensus and $43.23 million in revenue. Analysts maintain a consensus “Buy” rating with an average price target of $23.67.
• The stock traded at $20.21, while institutional investors and hedge funds own 65.83% of the company; several firms, including BlackRock, established new positions during the second quarter.

Bridgewater Bancshares, Inc. (NASDAQ:BWB - Get Free Report) Director Todd Urness sold 10,000 shares of the company's stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $20.34, for a total transaction of $203,400.00. Following the completion of the sale, the director directly owned 856,722 shares of the company's stock, valued at approximately $17,425,725.48. This trade represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Bridgewater Bancshares Price Performance

NASDAQ BWB traded down $0.13 during trading hours on Friday, hitting $20.21. 139,320 shares of the company's stock traded hands, compared to its average volume of 118,161. The company has a market capitalization of $563.45 million, a PE ratio of 10.36 and a beta of 0.63. 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 firm's 50-day moving average is $20.81 and its 200-day moving average is $19.70. Bridgewater Bancshares, Inc. has a 52-week low of $16.06 and a 52-week high of $22.62.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.02. The company had revenue of $43.23 million during the quarter, compared to the consensus estimate of $43.20 million. Bridgewater Bancshares had a return on equity of 11.66% and a net margin of 19.27%. Equities analysts forecast that Bridgewater Bancshares, Inc. will post 1.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BWB. Weiss Ratings restated a "buy (b+)" rating on shares of Bridgewater Bancshares in a research report on Monday, September 14th. Piper Sandler increased their price target on Bridgewater Bancshares from $23.00 to $24.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Finally, Stephens raised shares of Bridgewater Bancshares from an "equal weight" rating to an "overweight" rating and set a $25.00 price objective for the company in a report on Thursday, August 6th. Four equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Bridgewater Bancshares currently has a consensus rating of "Buy" and an average target price of $23.67.

Institutional Investors Weigh In On Bridgewater Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Bridgewater Bancshares during the 2nd quarter valued at $37,145,000. Punch & Associates Investment Management Inc. bought a new stake in shares of Bridgewater Bancshares in the 2nd quarter worth $9,145,000. Ancora Advisors LLC acquired a new stake in Bridgewater Bancshares during the 2nd quarter worth about $5,020,000. Algert Global LLC purchased a new stake in shares of Bridgewater Bancshares during the 2nd quarter worth about $3,572,000. Finally, Empowered Funds LLC acquired a new stake in Bridgewater Bancshares in the 2nd quarter worth approximately $2,086,000. Institutional investors and hedge funds own 65.83% of the company's stock.

Bridgewater Bancshares Company Profile

Bridgewater Bancshares, Inc is the bank holding company for Bridgewater Bank, a full-service commercial bank headquartered in St. Louis Park, Minnesota. The company focuses on serving businesses, commercial real estate investors, developers, professional organizations and affluent individuals, primarily in Minnesota and surrounding markets.

Bridgewater Bank provides commercial and residential real estate lending, construction and development financing, commercial and industrial loans, small-business lending, treasury management and deposit services.

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