Bridgewater Bancshares, Inc. (NASDAQ:BWB) Short Interest Up 11.5% in March

Bridgewater Bancshares, Inc. (NASDAQ:BWBGet Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 246,700 shares, an increase of 11.5% from the February 29th total of 221,200 shares. Based on an average daily trading volume, of 74,200 shares, the days-to-cover ratio is currently 3.3 days. Currently, 1.3% of the shares of the company are short sold.

Bridgewater Bancshares Stock Down 3.2 %

Bridgewater Bancshares stock opened at $11.28 on Wednesday. Bridgewater Bancshares has a fifty-two week low of $7.90 and a fifty-two week high of $14.43. The firm has a market capitalization of $312.57 million, a price-to-earnings ratio of 8.95 and a beta of 0.65. The stock’s fifty day moving average is $11.94 and its two-hundred day moving average is $11.26. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.03 and a current ratio of 1.03.

Bridgewater Bancshares (NASDAQ:BWBGet Free Report) last released its quarterly earnings data on Wednesday, January 24th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. Bridgewater Bancshares had a net margin of 17.46% and a return on equity of 11.53%. The business had revenue of $26.72 million for the quarter, compared to analyst estimates of $26.70 million. Analysts predict that Bridgewater Bancshares will post 1.13 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director James S. Johnson sold 12,590 shares of Bridgewater Bancshares stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $11.62, for a total value of $146,295.80. Following the transaction, the director now directly owns 94,063 shares in the company, valued at approximately $1,093,012.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Bridgewater Bancshares news, CEO Jerry J. Baack sold 15,687 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $13.11, for a total transaction of $205,656.57. Following the transaction, the chief executive officer now owns 1,237,351 shares in the company, valued at approximately $16,221,671.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James S. Johnson sold 12,590 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $11.62, for a total value of $146,295.80. Following the completion of the sale, the director now directly owns 94,063 shares of the company’s stock, valued at $1,093,012.06. The disclosure for this sale can be found here. Corporate insiders own 23.21% of the company’s stock.

Institutional Trading of Bridgewater Bancshares

Several large investors have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its position in shares of Bridgewater Bancshares by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 80,785 shares of the company’s stock valued at $1,347,000 after acquiring an additional 4,035 shares in the last quarter. American Century Companies Inc. raised its stake in Bridgewater Bancshares by 28.3% in the 1st quarter. American Century Companies Inc. now owns 95,131 shares of the company’s stock valued at $1,587,000 after purchasing an additional 20,980 shares during the last quarter. D.A. Davidson & CO. purchased a new position in Bridgewater Bancshares in the 1st quarter valued at about $173,000. MetLife Investment Management LLC boosted its stake in shares of Bridgewater Bancshares by 52.2% during the 1st quarter. MetLife Investment Management LLC now owns 12,609 shares of the company’s stock worth $210,000 after purchasing an additional 4,324 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Bridgewater Bancshares by 10.3% during the first quarter. Dimensional Fund Advisors LP now owns 399,704 shares of the company’s stock worth $6,667,000 after buying an additional 37,471 shares in the last quarter. 65.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on BWB. Piper Sandler reissued an “overweight” rating and issued a $15.50 target price on shares of Bridgewater Bancshares in a report on Wednesday, January 17th. DA Davidson raised their price objective on shares of Bridgewater Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Hovde Group started coverage on shares of Bridgewater Bancshares in a research report on Monday, March 4th. They set an “outperform” rating on the stock. Finally, TheStreet downgraded shares of Bridgewater Bancshares from a “b-” rating to a “c+” rating in a research report on Monday, March 11th.

Read Our Latest Analysis on Bridgewater Bancshares

Bridgewater Bancshares Company Profile

(Get Free Report)

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.

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