Bridgewater Bancshares, Inc. (NASDAQ:BWB) Short Interest Down 13.4% in January

Bridgewater Bancshares, Inc. (NASDAQ:BWB) saw a significant drop in short interest in January. As of January 15th, there was short interest totaling 309,143 shares, a drop of 13.4% from the December 31st total of 357,046 shares. Based on an average daily volume of 92,665 shares, the days-to-cover ratio is presently 3.3 days. Currently, 1.5% of the company’s stock are sold short. Currently, 1.5% of the company’s stock are sold short. Based on an average daily volume of 92,665 shares, the days-to-cover ratio is presently 3.3 days.

Analyst Ratings Changes

Several equities research analysts have recently commented on BWB shares. Piper Sandler reiterated an “overweight” rating and set a $23.00 price objective (up from $21.00) on shares of Bridgewater Bancshares in a research note on Thursday, January 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bridgewater Bancshares in a research note on Wednesday, January 21st. Stephens began coverage on Bridgewater Bancshares in a report on Wednesday, December 10th. They issued an “equal weight” rating and a $20.00 price objective on the stock. Finally, DA Davidson set a $24.00 target price on Bridgewater Bancshares in a research report on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.33.

Bridgewater Bancshares Stock Performance

Shares of NASDAQ:BWB traded up $0.41 during trading on Wednesday, hitting $19.95. 10,784 shares of the stock traded hands, compared to its average volume of 90,278. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.19. The company has a fifty day moving average price of $18.22 and a two-hundred day moving average price of $17.15. Bridgewater Bancshares has a 52-week low of $11.93 and a 52-week high of $20.15. The company has a market cap of $550.08 million, a price-to-earnings ratio of 13.33 and a beta of 0.65.

Bridgewater Bancshares (NASDAQ:BWB) last released its quarterly earnings results on Tuesday, January 27th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. The company had revenue of $38.84 million for the quarter, compared to analyst estimates of $36.10 million. Bridgewater Bancshares had a net margin of 15.74% and a return on equity of 11.07%. As a group, equities analysts predict that Bridgewater Bancshares will post 1.38 EPS for the current year.

Insider Buying and Selling

In related news, COO Lisa M. Salazar sold 2,175 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $16.72, for a total transaction of $36,366.00. Following the completion of the transaction, the chief operating officer owned 32,091 shares in the company, valued at $536,561.52. The trade was a 6.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Joseph M. Chybowski sold 6,780 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $17.99, for a total transaction of $121,972.20. Following the completion of the sale, the chief financial officer owned 104,560 shares of the company’s stock, valued at approximately $1,881,034.40. This trade represents a 6.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 102,644 shares of company stock valued at $1,799,145 over the last three months. Corporate insiders own 23.27% of the company’s stock.

Institutional Trading of Bridgewater Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the business. Alliancebernstein L.P. lifted its position in shares of Bridgewater Bancshares by 181.8% during the 3rd quarter. Alliancebernstein L.P. now owns 1,282,210 shares of the company’s stock valued at $22,567,000 after buying an additional 827,141 shares in the last quarter. Ancora Advisors LLC acquired a new position in shares of Bridgewater Bancshares during the 3rd quarter worth about $3,426,000. CSM Advisors LLC purchased a new position in Bridgewater Bancshares in the 2nd quarter valued at about $2,973,000. Hillsdale Investment Management Inc. acquired a new stake in Bridgewater Bancshares in the 3rd quarter worth about $2,690,000. Finally, Curi Capital LLC acquired a new stake in Bridgewater Bancshares in the 2nd quarter worth about $2,029,000. 65.83% of the stock is currently owned by hedge funds and other institutional investors.

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.