Jeffrey D. Shellberg Sells 32,273 Shares of Bridgewater Bancshares, Inc. (NASDAQ:BWB) Stock

Key Points

• Jeffrey D. Shellberg, EVP of Bridgewater Bancshares, sold 32,273 shares of company stock at an average price of $16.03, reducing his ownership by 9.03%.
• Bridgewater Bancshares reported earnings of $0.37 per share for the last quarter, surpassing the consensus estimate of $0.35.
• Institutional ownership of Bridgewater Bancshares stands at 65.83%, with several hedge funds significantly increasing their stakes in recent months.

Bridgewater Bancshares, Inc. (NASDAQ:BWB - Get Free Report) EVP Jeffrey D. Shellberg sold 32,273 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $16.03, for a total transaction of $517,336.19. Following the transaction, the executive vice president directly owned 325,117 shares of the company's stock, valued at $5,211,625.51. This represents a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Bridgewater Bancshares Stock Down 1.3%

Shares of BWB stock traded down $0.21 on Friday, reaching $15.75. 107,213 shares of the stock were exchanged, compared to its average volume of 73,016. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.25. The business's 50 day moving average price is $15.86 and its 200 day moving average price is $14.81. The company has a market capitalization of $432.81 million, a price-to-earnings ratio of 12.91 and a beta of 0.58. Bridgewater Bancshares, Inc. has a twelve month low of $11.93 and a twelve month high of $17.66.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. Bridgewater Bancshares had a net margin of 14.03% and a return on equity of 9.73%. The company had revenue of $35.61 million during the quarter, compared to the consensus estimate of $32.03 million. As a group, sell-side analysts expect that Bridgewater Bancshares, Inc. will post 1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bridgewater Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in BWB. BNP Paribas Financial Markets grew its position in shares of Bridgewater Bancshares by 78.1% in 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 during the last quarter. CWM LLC boosted its position in Bridgewater Bancshares by 182.1% during the second quarter. CWM LLC now owns 2,463 shares of the company's stock worth $39,000 after acquiring an additional 1,590 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Bridgewater Bancshares by 266.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,358 shares of the company's stock worth $45,000 after acquiring an additional 2,441 shares during the last quarter. Wells Fargo & Company MN boosted its position in Bridgewater Bancshares by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 11,667 shares of the company's stock worth $158,000 after acquiring an additional 2,540 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Bridgewater Bancshares during the fourth quarter worth approximately $171,000. 65.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on BWB. DA Davidson boosted their price target on shares of Bridgewater Bancshares from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Piper Sandler raised their target price on shares of Bridgewater Bancshares from $19.00 to $20.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th.

Bridgewater Bancshares Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.