Jeffrey Shellberg Sells 2,512 Shares of Bridgewater Bancshares (NASDAQ:BWB) Stock

Key Points

• Director Jeffrey Shellberg sold 2,512 shares of Bridgewater Bancshares on April 29 at an average price of $18.50 for $46,472, trimming his stake by 3.86% to 62,488 shares; the sale was disclosed in an SEC Form 4.
• BWB traded up 1.2% to $18.34, with a market cap of $510.22M and a P/E of 10.36, trading near its 50-day ($18.12) and 200-day ($17.98) moving averages and inside a 52-week range of $14.35–$20.30.
• Recent results and analyst outlook: Q1 EPS of $0.41 missed estimates by $0.01 while revenue beat expectations, and analysts hold a "Moderate Buy" consensus with an average target of $21.67 (several buy/overweight ratings and $22–$23 targets).

Bridgewater Bancshares, Inc. (NASDAQ:BWB - Get Free Report) Director Jeffrey Shellberg sold 2,512 shares of Bridgewater Bancshares stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $18.50, for a total transaction of $46,472.00. Following the sale, the director directly owned 62,488 shares in the company, valued at approximately $1,156,028. The trade was a 3.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Bridgewater Bancshares Trading Up 1.2%

Bridgewater Bancshares stock traded up $0.21 during mid-day trading on Friday, hitting $18.34. The company's stock had a trading volume of 40,120 shares, compared to its average volume of 76,674. The stock's fifty day moving average is $18.12 and its two-hundred day moving average is $17.98. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $510.22 million, a PE ratio of 10.36 and a beta of 0.61. Bridgewater Bancshares, Inc. has a 1 year low of $14.35 and a 1 year high of $20.30.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last posted its earnings results on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). Bridgewater Bancshares had a net margin of 17.69% and a return on equity of 11.26%. The business had revenue of $38.96 million during the quarter, compared to analysts' expectations of $36.93 million. On average, analysts anticipate that Bridgewater Bancshares, Inc. will post 1.85 EPS for the current year.

Wall Street Analysts Forecast Growth

BWB has been the topic of a number of recent analyst reports. DA Davidson reaffirmed a "buy" rating and issued a $22.00 target price on shares of Bridgewater Bancshares in a research report on Wednesday, April 22nd. Piper Sandler reissued an "overweight" rating and issued a $23.00 price target (up from $21.00) on shares of Bridgewater Bancshares in a research note on Thursday, January 29th. Finally, Weiss Ratings upgraded shares of Bridgewater Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, March 19th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $21.67.

Institutional Investors Weigh In On Bridgewater Bancshares

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings in Bridgewater Bancshares by 78.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,385 shares of the company's stock valued at $38,000 after acquiring an additional 1,046 shares during the period. State of Alaska Department of Revenue increased its stake in Bridgewater Bancshares by 253.6% during the fourth quarter. State of Alaska Department of Revenue now owns 3,851 shares of the company's stock worth $67,000 after purchasing an additional 2,762 shares during the period. CWM LLC lifted its position in shares of Bridgewater Bancshares by 118.0% during the third quarter. CWM LLC now owns 5,369 shares of the company's stock worth $94,000 after purchasing an additional 2,906 shares in the last quarter. Palouse Capital Management Inc. purchased a new position in shares of Bridgewater Bancshares in the third quarter valued at approximately $113,000. Finally, AQR Capital Management LLC purchased a new position in shares of Bridgewater Bancshares in the first quarter valued at approximately $178,000. Hedge funds and other institutional investors own 65.83% 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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