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

Bridgewater Bancshares, Inc. (NASDAQ:BWB - Get Free Report) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 139,400 shares, a drop of 25.1% from the September 30th total of 186,000 shares. Based on an average daily trading volume, of 43,600 shares, the short-interest ratio is currently 3.2 days. Approximately 0.7% of the shares of the company are short sold.

Insider Buying and Selling

In related news, Director Thomas P. Trutna sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $14.11, for a total transaction of $70,550.00. Following the completion of the transaction, the director now owns 102,072 shares of the company's stock, valued at approximately $1,440,235.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Bridgewater Bancshares news, Director Thomas P. Trutna sold 5,000 shares of Bridgewater Bancshares stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $14.11, for a total transaction of $70,550.00. Following the transaction, the director now directly owns 102,072 shares of the company's stock, valued at approximately $1,440,235.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jerry J. Baack sold 11,500 shares of the business's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $14.15, for a total value of $162,725.00. Following the completion of 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 23.21% of the stock is owned by insiders.

Hedge Funds Weigh In On Bridgewater Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. bought a new position in Bridgewater Bancshares during the 2nd quarter valued at about $35,000. SG Americas Securities LLC bought a new position in Bridgewater Bancshares during the third quarter valued at approximately $100,000. BNP Paribas Financial Markets boosted its holdings in Bridgewater Bancshares by 100.4% in the first quarter. BNP Paribas Financial Markets now owns 10,237 shares of the company's stock worth $119,000 after purchasing an additional 5,128 shares during the last quarter. Sei Investments Co. boosted its holdings in Bridgewater Bancshares by 23.3% in the second quarter. Sei Investments Co. now owns 14,360 shares of the company's stock worth $167,000 after purchasing an additional 2,713 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in Bridgewater Bancshares in the 1st quarter worth approximately $170,000. 65.83% of the stock is owned by institutional investors.

Bridgewater Bancshares Stock Up 1.6 %

Shares of NASDAQ BWB traded up $0.24 during midday trading on Monday, hitting $14.95. The stock had a trading volume of 42,536 shares, compared to its average volume of 51,857. The business's 50 day moving average is $14.19 and its 200-day moving average is $12.76. Bridgewater Bancshares has a 52 week low of $9.20 and a 52 week high of $15.66. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.98. The company has a market cap of $409.24 million, a P/E ratio of 13.02 and a beta of 0.68.

Analysts Set New Price Targets

A number of equities analysts recently commented on BWB shares. Piper Sandler upped their target price on Bridgewater Bancshares from $13.00 to $17.00 and gave the company an "overweight" rating in a report on Monday, July 29th. DA Davidson raised their target price on shares of Bridgewater Bancshares from $14.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, July 26th.

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.

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