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

Bridgewater Bancshares, Inc. (NASDAQ:BWB) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 139,400 shares, a decrease of 25.1% from the September 30th total of 186,000 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average trading volume of 43,600 shares, the days-to-cover ratio is presently 3.2 days.

Bridgewater Bancshares Price Performance

Shares of NASDAQ BWB traded down $0.21 during mid-day trading on Tuesday, hitting $14.74. 60,868 shares of the stock were exchanged, compared to its average volume of 51,945. Bridgewater Bancshares has a twelve month low of $9.20 and a twelve month high of $15.66. The stock’s fifty day simple moving average is $14.26 and its two-hundred day simple moving average is $12.81. 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 company has a market cap of $403.49 million, a P/E ratio of 13.04 and a beta of 0.68.

Analysts Set New Price Targets

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

Insider Activity

In other Bridgewater Bancshares news, CEO Jerry J. Baack sold 11,500 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $14.15, for a total value of $162,725.00. Following the sale, the chief executive officer now directly owns 1,228,514 shares in the company, valued at $17,383,473.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Thomas P. Trutna sold 5,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $14.11, for a total value of $70,550.00. Following the completion of the transaction, the director now directly owns 102,072 shares of the company’s stock, valued at $1,440,235.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jerry J. Baack sold 11,500 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 1,228,514 shares of the company’s stock, valued at approximately $17,383,473.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 23.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bridgewater Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its position in Bridgewater Bancshares by 100.4% in the 1st quarter. BNP Paribas Financial Markets now owns 10,237 shares of the company’s stock valued at $119,000 after acquiring an additional 5,128 shares in the last quarter. Sippican Capital Advisors boosted its position in Bridgewater Bancshares by 54.1% in the 1st quarter. Sippican Capital Advisors now owns 61,935 shares of the company’s stock valued at $721,000 after buying an additional 21,750 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Bridgewater Bancshares in the 1st quarter valued at $170,000. Vanguard Group Inc. raised its position in shares of Bridgewater Bancshares by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,051,832 shares of the company’s stock worth $12,243,000 after acquiring an additional 7,223 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Bridgewater Bancshares by 92.3% during the first quarter. Acadian Asset Management LLC now owns 289,173 shares of the company’s stock valued at $3,364,000 after acquiring an additional 138,776 shares during the period. 65.83% of the stock is owned by institutional investors and hedge funds.

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.