Thrivent Financial for Lutherans Increases Stake in Bridgewater Bancshares, Inc. (NASDAQ:BWB)

Thrivent Financial for Lutherans raised its stake in shares of Bridgewater Bancshares, Inc. (NASDAQ:BWB) by 0.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,729,422 shares of the company’s stock after buying an additional 2,847 shares during the quarter. Thrivent Financial for Lutherans owned about 9.98% of Bridgewater Bancshares worth $38,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Kennedy Capital Management LLC purchased a new stake in Bridgewater Bancshares during the 1st quarter valued at approximately $1,396,000. Assenagon Asset Management S.A. grew its holdings in shares of Bridgewater Bancshares by 121.9% in the third quarter. Assenagon Asset Management S.A. now owns 70,025 shares of the company’s stock valued at $992,000 after purchasing an additional 38,461 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Bridgewater Bancshares by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,051,832 shares of the company’s stock valued at $12,243,000 after purchasing an additional 7,223 shares in the last quarter. Riverwater Partners LLC purchased a new position in shares of Bridgewater Bancshares in the second quarter valued at $207,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Bridgewater Bancshares by 4.1% in the second quarter. Victory Capital Management Inc. now owns 63,700 shares of the company’s stock valued at $740,000 after purchasing an additional 2,500 shares in the last quarter. 65.83% of the stock is owned by hedge funds and other institutional investors.

Bridgewater Bancshares Price Performance

Shares of NASDAQ:BWB opened at $14.80 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.11. Bridgewater Bancshares, Inc. has a twelve month low of $10.18 and a twelve month high of $16.00. The company’s 50 day moving average is $14.55 and its 200 day moving average is $13.13. The company has a market cap of $405.96 million, a PE ratio of 14.10 and a beta of 0.67.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Piper Sandler raised their price target on Bridgewater Bancshares from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. DA Davidson boosted their target price on shares of Bridgewater Bancshares from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

Insiders Place Their Bets

In other news, Director Thomas P. Trutna sold 5,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $14.11, for a total transaction of $70,550.00. Following the transaction, the director now owns 102,072 shares in the company, valued at $1,440,235.92. This trade represents a 4.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David B. Juran sold 14,531 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $14.76, for a total value of $214,477.56. Following the transaction, the director now owns 5,469 shares in the company, valued at $80,722.44. This trade represents a 72.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,841 shares of company stock worth $594,750. Corporate insiders own 23.21% of the company’s stock.

About Bridgewater Bancshares

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.