Jerry Baack Sells 15,000 Shares of Bridgewater Bancshares (NASDAQ:BWB) Stock

Bridgewater Bancshares, Inc. (NASDAQ:BWB) CEO Jerry Baack sold 15,000 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $22.21, for a total transaction of $333,150.00. Following the completion of the transaction, the chief executive officer directly owned 1,133,769 shares of the company’s stock, valued at approximately $25,181,009.49. This trade represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Bridgewater Bancshares Price Performance

Bridgewater Bancshares stock opened at $22.23 on Friday. Bridgewater Bancshares, Inc. has a 52-week low of $15.35 and a 52-week high of $22.62. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.90. The firm’s fifty day moving average is $20.93 and its 200 day moving average is $19.34. The company has a market cap of $619.77 million, a price-to-earnings ratio of 12.08 and a beta of 0.57.

Bridgewater Bancshares (NASDAQ:BWB) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. Bridgewater Bancshares had a net margin of 18.38% and a return on equity of 11.21%. The business had revenue of $40.89 million during the quarter, compared to analysts’ expectations of $41.43 million. Sell-side analysts forecast that Bridgewater Bancshares, Inc. will post 1.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BWB. Weiss Ratings raised Bridgewater Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, June 18th. Piper Sandler raised their price objective on Bridgewater Bancshares from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Stephens upgraded Bridgewater Bancshares from an “equal weight” rating to an “overweight” rating and set a $25.00 target price for the company in a report on Thursday, August 6th. Finally, DA Davidson reissued a “buy” rating and set a $22.00 target price on shares of Bridgewater Bancshares in a research report on Wednesday, April 22nd. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.67.

Hedge Funds Weigh In On Bridgewater Bancshares

Several hedge funds have recently added to or reduced their stakes in BWB. Northwestern Mutual Wealth Management Co. purchased a new stake in Bridgewater Bancshares in the 2nd quarter worth about $32,000. BNP Paribas Financial Markets lifted its stake in Bridgewater Bancshares by 78.1% in the second quarter. BNP Paribas Financial Markets now owns 2,385 shares of the company’s stock worth $38,000 after purchasing an additional 1,046 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of Bridgewater Bancshares during the second quarter valued at approximately $45,000. State of Alaska Department of Revenue boosted its position in shares of 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 valued at $67,000 after buying an additional 2,762 shares during the period. Finally, AQR Capital Management LLC bought a new position in shares of Bridgewater Bancshares during the first quarter valued at approximately $178,000. 65.83% of the stock is currently owned by institutional investors.

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.