Jerry Baack Sells 11,334 Shares of Bridgewater Bancshares (NASDAQ:BWB) Stock

Key Points

• CEO Jerry Baack sold 11,334 Bridgewater Bancshares shares at an average price of $20.91, generating approximately $237,000. He retained 1,158,769 shares after the transaction, a 0.97% reduction in his ownership.
• Bridgewater Bancshares reported quarterly EPS of $0.45, in line with analyst expectations, while revenue of $40.89 million fell slightly short of the $41.43 million consensus estimate.
• Analyst sentiment remains favorable: the stock has a “Moderate Buy” consensus rating, with an average price target of $22.00; Piper Sandler recently raised its target to $24.00 and maintained an “overweight” rating.

Bridgewater Bancshares, Inc. (NASDAQ:BWB - Get Free Report) CEO Jerry Baack sold 11,334 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $20.91, for a total transaction of $236,993.94. Following the completion of the sale, the chief executive officer owned 1,158,769 shares of the company's stock, valued at $24,229,859.79. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Bridgewater Bancshares Price Performance

Shares of NASDAQ:BWB traded down $0.19 during midday trading on Wednesday, hitting $20.81. The company's stock had a trading volume of 125,077 shares, compared to its average volume of 114,080. The company has a market cap of $580.18 million, a P/E ratio of 11.31 and a beta of 0.57. Bridgewater Bancshares, Inc. has a 12-month low of $14.90 and a 12-month high of $22.59. The business's 50 day simple moving average is $20.29 and its 200 day simple moving average is $19.07. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.06 and a current ratio of 1.06.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. The company had revenue of $40.89 million during the quarter, compared to analysts' expectations of $41.43 million. Bridgewater Bancshares had a net margin of 18.38% and a return on equity of 11.42%. On average, analysts forecast that Bridgewater Bancshares, Inc. will post 1.85 EPS for the current year.

Analyst Upgrades and Downgrades

BWB has been the subject of a number of analyst reports. Piper Sandler upped their price target on Bridgewater Bancshares from $23.00 to $24.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Weiss Ratings raised Bridgewater Bancshares from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, June 18th. Finally, DA Davidson reaffirmed a "buy" rating and issued a $22.00 target price on shares of Bridgewater Bancshares in a research note on Wednesday, April 22nd. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.00.

Institutional Trading of Bridgewater Bancshares

Hedge funds have recently made changes to their positions in the company. Inspire Investing LLC increased its holdings in shares of Bridgewater Bancshares by 2.1% during the 4th quarter. Inspire Investing LLC now owns 26,748 shares of the company's stock worth $469,000 after buying an additional 544 shares during the last quarter. Villanova Investment Management Co LLC lifted its holdings in Bridgewater Bancshares by 0.4% in the fourth quarter. Villanova Investment Management Co LLC now owns 187,423 shares of the company's stock valued at $3,286,000 after acquiring an additional 770 shares during the last quarter. Ieq Capital LLC lifted its holdings in Bridgewater Bancshares by 6.2% in the fourth quarter. Ieq Capital LLC now owns 13,105 shares of the company's stock valued at $230,000 after acquiring an additional 770 shares during the last quarter. LPL Financial LLC grew its position in Bridgewater Bancshares by 7.8% in the fourth quarter. LPL Financial LLC now owns 11,770 shares of the company's stock worth $206,000 after acquiring an additional 855 shares during the period. Finally, Maltese Capital Management LLC increased its stake in Bridgewater Bancshares by 0.6% during the fourth quarter. Maltese Capital Management LLC now owns 176,000 shares of the company's stock worth $3,085,000 after acquiring an additional 1,000 shares during the last quarter. 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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