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

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

Insider Activity

In other Bridgewater Bancshares news, Director Thomas P. Trutna sold 5,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $14.11, for a total transaction of $70,550.00. Following the sale, the director now owns 102,072 shares of the company’s stock, valued at approximately $1,440,235.92. This trade represents a 4.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jerry J. Baack sold 11,500 shares of the company’s stock in a transaction 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 owns 1,228,514 shares of the company’s stock, valued at $17,383,473.10. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,841 shares of company stock valued at $594,750. 23.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bridgewater Bancshares

A number of hedge funds have recently modified their holdings of BWB. BNP Paribas Financial Markets boosted its stake in Bridgewater Bancshares by 18.0% during the third quarter. BNP Paribas Financial Markets now owns 4,424 shares of the company’s stock worth $63,000 after buying an additional 676 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Bridgewater Bancshares by 5.1% in the 3rd quarter. Empowered Funds LLC now owns 16,523 shares of the company’s stock worth $234,000 after acquiring an additional 804 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Bridgewater Bancshares by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 77,737 shares of the company’s stock worth $903,000 after purchasing an additional 994 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Bridgewater Bancshares by 0.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 272,799 shares of the company’s stock worth $3,866,000 after purchasing an additional 2,170 shares during the period. Finally, Jane Street Group LLC increased its holdings in Bridgewater Bancshares by 11.4% in the 3rd quarter. Jane Street Group LLC now owns 23,696 shares of the company’s stock valued at $336,000 after purchasing an additional 2,422 shares during the last quarter. 65.83% of the stock is currently owned by institutional investors and hedge funds.

Bridgewater Bancshares Price Performance

Shares of Bridgewater Bancshares stock traded down $0.08 during mid-day trading on Friday, reaching $14.89. 54,739 shares of the stock traded hands, compared to its average volume of 69,685. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.11. Bridgewater Bancshares has a fifty-two week low of $10.18 and a fifty-two week high of $16.00. The stock has a market capitalization of $408.43 million, a PE ratio of 14.18 and a beta of 0.67. The business has a 50-day moving average of $14.53 and a 200 day moving average of $13.10.

Analyst Ratings Changes

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

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.