Bridgewater Bancshares, Inc. (NASDAQ:BWB) Sees Significant Decrease in Short Interest

Bridgewater Bancshares, Inc. (NASDAQ:BWB) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 139,400 shares, a decline of 25.1% from the September 30th total of 186,000 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average daily 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 midday trading on Tuesday, reaching $14.74. 60,868 shares of the company’s stock traded hands, compared to its average volume of 51,945. The company has a fifty day simple moving average of $14.26 and a two-hundred day simple moving average of $12.81. Bridgewater Bancshares has a 1 year low of $9.20 and a 1 year high of $15.66. The company has a market cap of $403.49 million, a P/E ratio of 13.04 and a beta of 0.68. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.02 and a current ratio of 1.02.

Insider Buying and Selling at Bridgewater Bancshares

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

Hedge Funds Weigh In On Bridgewater Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BWB. Stieven Capital Advisors L.P. increased its stake in shares of Bridgewater Bancshares by 94.8% during the first quarter. Stieven Capital Advisors L.P. now owns 294,537 shares of the company’s stock worth $3,428,000 after purchasing an additional 143,376 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Bridgewater Bancshares by 92.3% in the 1st quarter. Acadian Asset Management LLC now owns 289,173 shares of the company’s stock worth $3,364,000 after buying an additional 138,776 shares during the last quarter. Kennedy Capital Management LLC purchased a new stake in Bridgewater Bancshares during the 1st quarter worth approximately $1,396,000. Assenagon Asset Management S.A. raised its holdings in shares of Bridgewater Bancshares by 121.9% during the third quarter. Assenagon Asset Management S.A. now owns 70,025 shares of the company’s stock valued at $992,000 after acquiring an additional 38,461 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Bridgewater Bancshares by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 789,993 shares of the company’s stock valued at $9,171,000 after acquiring an additional 37,090 shares in the last quarter. 65.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BWB has been the subject of several analyst reports. DA Davidson boosted their target price on shares of Bridgewater Bancshares from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Piper Sandler increased their target price 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.

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.