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

Bridgewater Bancshares, Inc. (NASDAQ:BWB) was the recipient of a large drop in short interest in January. As of January 15th, there was short interest totalling 117,900 shares, a drop of 7.8% from the December 31st total of 127,900 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 69,600 shares, the days-to-cover ratio is presently 1.7 days.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Piper Sandler dropped their target price on shares of Bridgewater Bancshares from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Friday. DA Davidson reiterated a “buy” rating and issued a $18.00 price objective on shares of Bridgewater Bancshares in a report on Thursday.

Bridgewater Bancshares Stock Down 2.4 %

Bridgewater Bancshares stock traded down $0.34 during mid-day trading on Monday, reaching $13.78. 35,971 shares of the company’s stock were exchanged, compared to its average volume of 58,251. The company has a market cap of $377.99 million, a P/E ratio of 13.38 and a beta of 0.68. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.11. Bridgewater Bancshares has a twelve month low of $10.52 and a twelve month high of $16.00. The company has a fifty day moving average of $14.00 and a 200-day moving average of $14.10.

Bridgewater Bancshares (NASDAQ:BWB) last issued its earnings results on Wednesday, January 29th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.04. Bridgewater Bancshares had a net margin of 12.96% and a return on equity of 8.85%. Sell-side analysts expect that Bridgewater Bancshares will post 1.24 EPS for the current year.

Insider Activity at Bridgewater Bancshares

In related news, Director Thomas P. Trutna sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $15.13, for a total value of $30,260.00. Following the transaction, the director now directly owns 100,780 shares in the company, valued at approximately $1,524,801.40. This represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James S. Johnson sold 4,705 shares of Bridgewater Bancshares stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $15.00, for a total value of $70,575.00. Following the completion of the sale, the director now owns 93,646 shares in the company, valued at $1,404,690. This represents a 4.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,455 shares of company stock valued at $233,903. 23.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BWB. Dimensional Fund Advisors LP increased its holdings in shares of Bridgewater Bancshares by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 789,993 shares of the company’s stock valued at $9,171,000 after acquiring an additional 37,090 shares during the period. State Street Corp grew its holdings in Bridgewater Bancshares by 1.1% during the third quarter. State Street Corp now owns 449,345 shares of the company’s stock worth $6,367,000 after acquiring an additional 4,874 shares during the period. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Bridgewater Bancshares by 0.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 272,799 shares of the company’s stock valued at $3,866,000 after purchasing an additional 2,170 shares in the last quarter. Stieven Capital Advisors L.P. lifted its position in shares of Bridgewater Bancshares by 56.1% during the 4th quarter. Stieven Capital Advisors L.P. now owns 239,989 shares of the company’s stock valued at $3,242,000 after acquiring an additional 86,200 shares during the period. Finally, Foundry Partners LLC raised its stake in shares of Bridgewater Bancshares by 111.7% during the 3rd quarter. Foundry Partners LLC now owns 167,010 shares of the company’s stock worth $2,367,000 after buying an additional 88,110 shares during the last quarter. Hedge funds and other institutional investors own 65.83% of the company’s stock.

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.