Bridgewater Bancshares, Inc. (NASDAQ:BWB) Short Interest Up 16.4% in October

Bridgewater Bancshares, Inc. (NASDAQ:BWB) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 162,300 shares, an increase of 16.4% from the October 15th total of 139,400 shares. Based on an average daily volume of 47,700 shares, the short-interest ratio is currently 3.4 days. Currently, 0.8% of the shares of the company are short sold.

Insider Buying and Selling at Bridgewater Bancshares

In other news, Director Thomas P. Trutna sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was 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 of the company’s stock, valued at approximately $1,440,235.92. This represents a 4.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jerry J. Baack sold 11,500 shares of Bridgewater Bancshares stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $14.15, for a total value of $162,725.00. Following the sale, the chief executive officer now directly owns 1,228,514 shares of the company’s stock, valued at approximately $17,383,473.10. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,841 shares of company stock worth $594,750 over the last ninety days. 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 modified their holdings of BWB. Stieven Capital Advisors L.P. boosted its stake in Bridgewater Bancshares by 94.8% in the first quarter. Stieven Capital Advisors L.P. now owns 294,537 shares of the company’s stock valued at $3,428,000 after buying an additional 143,376 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Bridgewater Bancshares by 92.3% in the first quarter. Acadian Asset Management LLC now owns 289,173 shares of the company’s stock worth $3,364,000 after acquiring an additional 138,776 shares during the last quarter. Kennedy Capital Management LLC acquired a new stake in shares of Bridgewater Bancshares in the 1st quarter valued at approximately $1,396,000. Foundry Partners LLC grew its holdings in shares of Bridgewater Bancshares by 111.7% during the 3rd quarter. Foundry Partners LLC now owns 167,010 shares of the company’s stock valued at $2,367,000 after purchasing an additional 88,110 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Bridgewater Bancshares by 121.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 70,025 shares of the company’s stock valued at $992,000 after purchasing an additional 38,461 shares during the last quarter. Institutional investors own 65.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. 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 report on Monday, July 29th. DA Davidson increased their price target on Bridgewater Bancshares from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, July 26th.

Bridgewater Bancshares Price Performance

Shares of NASDAQ:BWB opened at $14.89 on Monday. The firm has a 50 day moving average of $14.53 and a 200-day moving average of $13.11. Bridgewater Bancshares has a 12 month low of $10.18 and a 12 month high of $16.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $408.43 million, a PE ratio of 14.18 and a beta of 0.67.

Bridgewater Bancshares Company Profile

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.