Bridgewater Bancshares (NASDAQ:BWB) Director Jeffrey Shellberg Sells 160,000 Shares of Stock

Bridgewater Bancshares, Inc. (NASDAQ:BWB) Director Jeffrey Shellberg sold 160,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $21.04, for a total transaction of $3,366,400.00. Following the sale, the director owned 106,187 shares of the company’s stock, valued at $2,234,174.48. The trade was a 60.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Bridgewater Bancshares Price Performance

NASDAQ BWB opened at $21.07 on Thursday. The stock has a market capitalization of $587.49 million, a P/E ratio of 11.45 and a beta of 0.57. Bridgewater Bancshares, Inc. has a 1 year low of $15.15 and a 1 year high of $22.59. The business’s fifty day moving average is $20.52 and its two-hundred day moving average is $19.18. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.05 and a current ratio of 1.05.

Bridgewater Bancshares (NASDAQ:BWB) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. The company had revenue of $40.89 million during the quarter, compared to the consensus estimate of $41.43 million. Bridgewater Bancshares had a return on equity of 11.21% and a net margin of 18.38%. On average, research analysts forecast that Bridgewater Bancshares, Inc. will post 1.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Piper Sandler increased 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. DA Davidson restated a “buy” rating and set a $22.00 price objective on shares of Bridgewater Bancshares in a report on Wednesday, April 22nd. Finally, Weiss Ratings raised shares of Bridgewater Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, June 18th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Alliancebernstein L.P. increased its holdings in shares of Bridgewater Bancshares by 181.8% in the 3rd quarter. Alliancebernstein L.P. now owns 1,282,210 shares of the company’s stock valued at $22,567,000 after purchasing an additional 827,141 shares during the period. Hodges Capital Management Inc. acquired a new stake in shares of Bridgewater Bancshares during the fourth quarter worth approximately $3,862,000. Ancora Advisors LLC acquired a new stake in shares of Bridgewater Bancshares during the third quarter worth approximately $3,426,000. Curi Capital LLC purchased a new position in Bridgewater Bancshares during the second quarter valued at approximately $2,029,000. Finally, Mendon Capital Advisors Corp purchased a new position in Bridgewater Bancshares during the second quarter valued at approximately $2,029,000. Hedge funds and other institutional investors own 65.83% of the company’s stock.

Bridgewater Bancshares Company Profile

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.