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

Bridgewater Bancshares, Inc. (NASDAQ:BWB) was the target of a large growth in short interest in 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 trading volume, of 47,700 shares, the days-to-cover ratio is presently 3.4 days. Approximately 0.8% of the shares of the stock are sold short.

Bridgewater Bancshares Trading Down 0.5 %

BWB opened at $14.89 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.02 and a current ratio of 1.02. The stock’s 50 day moving average price is $14.53 and its 200-day moving average price is $13.08. Bridgewater Bancshares has a one year low of $10.18 and a one year high of $16.00. The stock has a market cap of $408.43 million, a price-to-earnings ratio of 14.18 and a beta of 0.67.

Insider Buying and Selling at Bridgewater Bancshares

In other news, CEO Jerry J. Baack sold 11,500 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $14.15, for a total transaction of $162,725.00. Following the sale, the chief executive officer now directly owns 1,228,514 shares in the company, valued at approximately $17,383,473.10. This represents a 0.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Douglas J. Parish sold 5,750 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $15.05, for a total value of $86,537.50. Following the completion of the sale, the director now directly owns 1,636 shares of the company’s stock, valued at $24,621.80. The trade was a 77.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,841 shares of company stock worth $594,750 in the last quarter. 23.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bridgewater Bancshares

Several hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Bridgewater Bancshares during the second quarter worth $35,000. BNP Paribas Financial Markets increased its stake in Bridgewater Bancshares by 18.0% in the 3rd 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 period. SG Americas Securities LLC bought a new stake in Bridgewater Bancshares during the 3rd quarter valued at about $100,000. D.A. Davidson & CO. purchased a new stake in Bridgewater Bancshares in the 3rd quarter valued at about $183,000. Finally, Martingale Asset Management L P bought a new position in Bridgewater Bancshares in the 3rd quarter worth about $185,000. Institutional investors own 65.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Piper Sandler raised their price target on 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 raised their target price 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.

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.