Bridgewater Bancshares, Inc. (NASDAQ:BWB) Sees Large Increase in Short Interest

Bridgewater Bancshares, Inc. (NASDAQ:BWB) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 135,700 shares, an increase of 6.7% from the August 31st total of 127,200 shares. Based on an average trading volume of 51,400 shares, the short-interest ratio is presently 2.6 days. Currently, 0.7% of the shares of the stock are sold short.

Bridgewater Bancshares Stock Performance

NASDAQ:BWB traded up $0.08 during mid-day trading on Monday, hitting $14.17. 20,479 shares of the stock were exchanged, compared to its average volume of 53,600. The stock has a market capitalization of $387.89 million, a price-to-earnings ratio of 12.60 and a beta of 0.68. Bridgewater Bancshares has a fifty-two week low of $8.00 and a fifty-two week high of $14.90. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.02 and a current ratio of 1.02. The firm’s 50-day simple moving average is $13.67 and its 200 day simple moving average is $12.31.

Bridgewater Bancshares (NASDAQ:BWB) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Bridgewater Bancshares had a net margin of 14.27% and a return on equity of 9.51%. The business had revenue of $62.64 million during the quarter, compared to analysts’ expectations of $26.60 million. During the same period in the prior year, the company earned $0.31 EPS. As a group, equities analysts anticipate that Bridgewater Bancshares will post 1 EPS for the current fiscal year.

Insider Buying and Selling

In other Bridgewater Bancshares news, CEO Jerry J. Baack sold 11,500 shares of Bridgewater Bancshares stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $14.15, for a total transaction of $162,725.00. Following the transaction, the chief executive officer now directly owns 1,228,514 shares in the company, valued at approximately $17,383,473.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Bridgewater Bancshares news, CEO Jerry J. Baack sold 11,500 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $14.15, for a total transaction of $162,725.00. Following the completion of the sale, the chief executive officer now directly owns 1,228,514 shares in the company, valued at $17,383,473.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas P. Trutna sold 5,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $14.11, for a total value of $70,550.00. Following the transaction, the director now owns 102,072 shares in the company, valued at $1,440,235.92. The disclosure for this sale can be found here. 23.21% of the stock is owned by corporate insiders.

Institutional Trading of Bridgewater Bancshares

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Bridgewater Bancshares by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,051,832 shares of the company’s stock worth $12,243,000 after purchasing an additional 7,223 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Bridgewater Bancshares by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 789,993 shares of the company’s stock valued at $9,171,000 after purchasing an additional 37,090 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Bridgewater Bancshares by 18.3% during the second quarter. Acadian Asset Management LLC now owns 342,197 shares of the company’s stock valued at $3,972,000 after buying an additional 53,024 shares during the last quarter. Stieven Capital Advisors L.P. lifted its holdings in shares of Bridgewater Bancshares by 94.8% during the 1st quarter. Stieven Capital Advisors L.P. now owns 294,537 shares of the company’s stock valued at $3,428,000 after buying an additional 143,376 shares during the period. Finally, American Century Companies Inc. raised its stake in Bridgewater Bancshares by 1.6% during the 2nd quarter. American Century Companies Inc. now owns 284,904 shares of the company’s stock worth $3,308,000 after acquiring an additional 4,450 shares during the period. Institutional investors own 65.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BWB shares. DA Davidson increased their target price on Bridgewater Bancshares from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Piper Sandler boosted their price target on Bridgewater Bancshares from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Monday, July 29th.

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.