Algert Global LLC Purchases New Position in Bridgewater Bancshares, Inc. $BWB

Algert Global LLC purchased a new position in shares of Bridgewater Bancshares, Inc. (NASDAQ:BWB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 169,752 shares of the company’s stock, valued at approximately $3,572,000.

Other large investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. bought a new stake in Bridgewater Bancshares in the 2nd quarter worth approximately $32,000. BNP Paribas Financial Markets lifted its stake in shares of Bridgewater Bancshares by 78.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,385 shares of the company’s stock valued at $38,000 after purchasing an additional 1,046 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Bridgewater Bancshares in the first quarter worth $178,000. LPL Financial LLC increased its position in shares of Bridgewater Bancshares by 7.8% during the fourth quarter. LPL Financial LLC now owns 11,770 shares of the company’s stock worth $206,000 after acquiring an additional 855 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Bridgewater Bancshares by 14.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,419 shares of the company’s stock worth $218,000 after buying an additional 1,535 shares during the period. Institutional investors own 65.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Stephens upgraded Bridgewater Bancshares from an “equal weight” rating to an “overweight” rating and set a $25.00 price objective for the company in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Bridgewater Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, June 18th. Finally, Piper Sandler lifted their price target 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. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Bridgewater Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.67.

Bridgewater Bancshares Stock Performance

Shares of Bridgewater Bancshares stock opened at $21.32 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $594.40 million, a P/E ratio of 11.59 and a beta of 0.57. Bridgewater Bancshares, Inc. has a 1 year low of $15.91 and a 1 year high of $22.62. The business has a 50 day moving average price of $21.31 and a 200 day moving average price of $19.50.

Bridgewater Bancshares (NASDAQ:BWB) last released its earnings results on Tuesday, July 21st. The company reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. The firm had revenue of $40.89 million during the quarter, compared to the consensus estimate of $41.43 million. Bridgewater Bancshares had a net margin of 18.38% and a return on equity of 11.21%. Sell-side analysts anticipate that Bridgewater Bancshares, Inc. will post 1.85 EPS for the current fiscal year.

Insider Activity

In other news, Director Mary Jayne Crocker sold 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $21.04, for a total value of $231,440.00. Following the transaction, the director directly owned 224,384 shares of the company’s stock, valued at $4,721,039.36. The trade was a 4.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey D. Shellberg sold 160,000 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $21.04, for a total value of $3,366,400.00. Following the sale, the director directly owned 106,187 shares in the company, valued at approximately $2,234,174.48. This represents a 60.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 325,873 shares of company stock valued at $6,905,093. 23.10% of the stock is currently owned by company insiders.

Bridgewater Bancshares Company 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.