Short Interest in Bridgewater Bancshares, Inc. (NASDAQ:BWB) Decreases By 10.9%

Bridgewater Bancshares, Inc. (NASDAQ:BWB) was the recipient of a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 181,200 shares, a decrease of 10.9% from the May 31st total of 203,400 shares. Based on an average trading volume of 42,900 shares, the days-to-cover ratio is presently 4.2 days. Currently, 0.9% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Hovde Group began coverage on Bridgewater Bancshares in a research note on Monday, March 4th. They set an “outperform” rating on the stock. TheStreet cut Bridgewater Bancshares from a “b-” rating to a “c+” rating in a research note on Monday, March 11th. Finally, Piper Sandler reiterated an “overweight” rating and set a $14.00 target price (down previously from $14.50) on shares of Bridgewater Bancshares in a research note on Friday, April 26th.

Institutional Trading of Bridgewater Bancshares

Several large investors have recently added to or reduced their stakes in the business. FMR LLC increased its stake in shares of Bridgewater Bancshares by 16.7% during the third quarter. FMR LLC now owns 1,647,159 shares of the company’s stock valued at $15,615,000 after acquiring an additional 236,281 shares during the period. Stieven Capital Advisors L.P. boosted its stake in 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 purchasing an additional 143,376 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Bridgewater Bancshares by 92.3% during the 1st quarter. Acadian Asset Management LLC now owns 289,173 shares of the company’s stock valued at $3,364,000 after purchasing an additional 138,776 shares during the period. Banc Funds Co. LLC raised its stake in shares of Bridgewater Bancshares by 196.3% in the 4th quarter. Banc Funds Co. LLC now owns 186,704 shares of the company’s stock worth $2,524,000 after buying an additional 123,695 shares in the last quarter. Finally, Kennedy Capital Management LLC acquired a new stake in shares of Bridgewater Bancshares in the first quarter valued at $1,396,000. 65.83% of the stock is currently owned by institutional investors and hedge funds.

Bridgewater Bancshares Stock Performance

BWB traded down $0.09 during trading on Monday, reaching $11.52. 41,441 shares of the company were exchanged, compared to its average volume of 55,550. Bridgewater Bancshares has a 52 week low of $8.00 and a 52 week high of $14.43. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.08. The firm has a 50 day moving average of $11.43 and a 200 day moving average of $11.86. The stock has a market cap of $315.30 million, a P/E ratio of 10.19 and a beta of 0.69.

Bridgewater Bancshares (NASDAQ:BWB) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). The firm had revenue of $26.18 million for the quarter, compared to the consensus estimate of $26.80 million. Bridgewater Bancshares had a return on equity of 10.20% and a net margin of 15.37%. On average, sell-side analysts forecast that Bridgewater Bancshares will post 1 EPS for the current fiscal year.

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.