Insider Selling: Bridgewater Bancshares (NASDAQ:BWB) CEO Sells $220,300.00 in Stock

Bridgewater Bancshares, Inc. (NASDAQ:BWB) CEO Jerry Baack sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $22.03, for a total value of $220,300.00. Following the completion of the sale, the chief executive officer owned 1,148,769 shares in the company, valued at approximately $25,307,381.07. This represents a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Bridgewater Bancshares Stock Performance

NASDAQ:BWB opened at $22.23 on Monday. The stock has a 50-day simple moving average of $20.93 and a 200-day simple moving average of $19.34. The stock has a market cap of $619.77 million, a P/E ratio of 12.08 and a beta of 0.57. Bridgewater Bancshares, Inc. has a 1 year low of $15.35 and a 1 year high of $22.62. 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 issued its earnings results on Tuesday, July 21st. The company reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. Bridgewater Bancshares had a return on equity of 11.21% and a net margin of 18.38%.The business had revenue of $40.89 million for the quarter, compared to analyst estimates of $41.43 million. As a group, analysts anticipate that Bridgewater Bancshares, Inc. will post 1.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Ancora Advisors LLC purchased a new stake in Bridgewater Bancshares in the second quarter valued at approximately $5,020,000. Canada Pension Plan Investment Board purchased a new position in shares of Bridgewater Bancshares during the second quarter worth approximately $482,000. Legal & General Group Plc purchased a new position in shares of Bridgewater Bancshares during the second quarter worth approximately $45,000. Algert Global LLC acquired a new position in shares of Bridgewater Bancshares in the 2nd quarter valued at $3,572,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Bridgewater Bancshares in the 2nd quarter valued at $2,002,000. Institutional investors and hedge funds own 65.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Stephens upgraded shares of Bridgewater Bancshares from an “equal weight” rating to an “overweight” rating and set a $25.00 price objective for the company in a research report on Thursday, August 6th. DA Davidson reaffirmed a “buy” rating and issued a $22.00 target price on shares of Bridgewater Bancshares in a research report on Wednesday, April 22nd. Piper Sandler lifted their price target on shares of Bridgewater Bancshares from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings raised shares of Bridgewater Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, June 18th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.67.

About Bridgewater Bancshares

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.