Insider Selling: Bridgewater Bancshares (NASDAQ:BWB) Director Sells $404,200.00 in Stock

Key Points

• Director Todd Urness sold 20,000 Bridgewater Bancshares shares at an average of $20.21, for $404,200. He retained 840,909 shares after the transaction.
• Bridgewater reported quarterly EPS of $0.49, beating the $0.47 consensus estimate; revenue of $43.23 million was also slightly above expectations.
• Analysts maintain a consensus Buy rating, with an average price target of $23.67. Shares traded at $20.28 on Friday.

Bridgewater Bancshares, Inc. (NASDAQ:BWB - Get Free Report) Director Todd Urness sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $20.21, for a total transaction of $404,200.00. Following the sale, the director owned 840,909 shares of the company's stock, valued at $16,994,770.89. The trade was a 2.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Bridgewater Bancshares Stock Up 0.0%

Shares of BWB traded up $0.01 during mid-day trading on Friday, reaching $20.28. The company's stock had a trading volume of 70,782 shares, compared to its average volume of 118,963. The business has a fifty day moving average of $20.71 and a 200 day moving average of $19.76. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.06. The company has a market cap of $565.49 million, a price-to-earnings ratio of 10.40 and a beta of 0.63. Bridgewater Bancshares, Inc. has a 1 year low of $16.06 and a 1 year 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 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. Bridgewater Bancshares had a return on equity of 11.60% and a net margin of 19.27%. The business had revenue of $43.23 million during the quarter, compared to analysts' expectations of $43.20 million. As a group, analysts forecast that Bridgewater Bancshares, Inc. will post 1.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BWB has been the subject of several research analyst reports. Piper Sandler lifted their target price on shares of Bridgewater Bancshares from $23.00 to $24.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Stephens upgraded Bridgewater Bancshares from an "equal weight" rating to an "overweight" rating and set a $25.00 price target on the stock in a research note on Thursday, August 6th. Finally, Weiss Ratings reissued a "buy (b+)" rating on shares of Bridgewater Bancshares in a research note on Monday, September 14th. Four research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $23.67.

Hedge Funds Weigh In On Bridgewater Bancshares

A number of hedge funds have recently added to or reduced their stakes in the stock. Tectonic Advisors LLC increased its stake in Bridgewater Bancshares by 18.1% in the 3rd quarter. Tectonic Advisors LLC now owns 88,744 shares of the company's stock worth $1,790,000 after purchasing an additional 13,622 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of Bridgewater Bancshares during the second quarter valued at about $407,000. Squarepoint Ops LLC raised its position in shares of Bridgewater Bancshares by 13.5% in the 2nd quarter. Squarepoint Ops LLC now owns 106,492 shares of the company's stock worth $2,241,000 after acquiring an additional 12,627 shares in the last quarter. Ancora Advisors LLC lifted its position in Bridgewater Bancshares by 1.0% during the second quarter. Ancora Advisors LLC now owns 238,580 shares of the company's stock valued at $5,020,000 after buying an additional 2,340 shares during the period. Finally, Empowered Funds LLC purchased a new position in Bridgewater Bancshares during the 2nd quarter valued at about $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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