Punch & Associates Investment Management Inc. acquired a new position in shares of Bridgewater Bancshares, Inc. (NASDAQ:BWB – Free Report) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 434,660 shares of the company’s stock, valued at approximately $9,145,000.
A number of other large investors have also recently bought and sold shares of BWB. Bank of America Corp DE acquired a new position in shares of Bridgewater Bancshares in the 2nd quarter valued at approximately $423,000. Ancora Advisors LLC bought a new stake in shares of Bridgewater Bancshares during the 2nd quarter worth approximately $5,020,000. Canada Pension Plan Investment Board acquired a new stake in shares of Bridgewater Bancshares during the 2nd quarter worth approximately $482,000. Legal & General Group Plc acquired a new stake in shares of Bridgewater Bancshares during the 2nd quarter worth approximately $45,000. Finally, Algert Global LLC bought a new position in Bridgewater Bancshares in the second quarter valued at approximately $3,572,000. 65.83% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have commented on BWB. Piper Sandler boosted their price objective on shares of Bridgewater Bancshares from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Weiss Ratings raised Bridgewater Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, June 18th. Finally, Stephens upgraded Bridgewater Bancshares from an “equal weight” rating to an “overweight” rating and set a $25.00 price target on the stock in a research note on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $23.67.
Insider Buying and Selling
In other Bridgewater Bancshares news, CEO Jerry J. Baack sold 15,900 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $20.80, for a total transaction of $330,720.00. Following the completion of the transaction, the chief executive officer owned 1,170,103 shares in the company, valued at approximately $24,338,142.40. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David B. Juran sold 25,000 shares of Bridgewater Bancshares stock in a transaction on Monday, August 24th. The stock was sold at an average price of $21.74, for a total transaction of $543,500.00. Following the transaction, the director directly owned 81,301 shares of the company’s stock, valued at $1,767,483.74. This represents a 23.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 324,933 shares of company stock valued at $6,884,845 in the last ninety days. Insiders own 23.10% of the company’s stock.
Bridgewater Bancshares Price Performance
Shares of BWB opened at $21.16 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.90. The stock has a market cap of $589.94 million, a PE ratio of 11.50 and a beta of 0.57. Bridgewater Bancshares, Inc. has a 12-month low of $15.91 and a 12-month high of $22.62. The business has a 50-day simple moving average of $21.25 and a two-hundred day simple moving average of $19.48.
Bridgewater Bancshares (NASDAQ:BWB – Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. The firm had revenue of $40.89 million for the quarter, compared to analyst estimates of $41.43 million. Bridgewater Bancshares had a return on equity of 11.21% and a net margin of 18.38%. Analysts anticipate that Bridgewater Bancshares, Inc. will post 1.85 earnings per share for the current fiscal year.
Bridgewater Bancshares 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.
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