Bleakley Financial Group LLC Acquires New Stake in Bridgewater Bancshares, Inc. $BWB

Bleakley Financial Group LLC bought a new position in Bridgewater Bancshares, Inc. (NASDAQ:BWB) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 86,733 shares of the company’s stock, valued at approximately $1,535,000.

Several other hedge funds have also recently made changes to their positions in BWB. BNP Paribas Financial Markets increased its holdings in Bridgewater Bancshares by 78.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,385 shares of the company’s stock worth $38,000 after acquiring an additional 1,046 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Bridgewater Bancshares by 253.6% during the fourth quarter. State of Alaska Department of Revenue now owns 3,851 shares of the company’s stock worth $67,000 after purchasing an additional 2,762 shares during the period. AQR Capital Management LLC purchased a new position in shares of Bridgewater Bancshares in the first quarter worth about $178,000. LPL Financial LLC increased its stake in shares of Bridgewater Bancshares by 7.8% in the fourth quarter. LPL Financial LLC now owns 11,770 shares of the company’s stock worth $206,000 after purchasing an additional 855 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Bridgewater Bancshares by 14.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,419 shares of the company’s stock valued at $218,000 after purchasing an additional 1,535 shares during the period. 65.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BWB. Weiss Ratings upgraded Bridgewater Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, June 18th. DA Davidson restated a “buy” rating and issued a $22.00 target price on shares of Bridgewater Bancshares in a research note on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.67.

Bridgewater Bancshares Stock Up 3.1%

BWB opened at $22.49 on Friday. The business’s fifty day simple moving average is $19.81 and its 200 day simple moving average is $18.87. Bridgewater Bancshares, Inc. has a 52 week low of $14.90 and a 52 week high of $22.59. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.96. The stock has a market cap of $627.02 million, a PE ratio of 12.71 and a beta of 0.57.

Bridgewater Bancshares (NASDAQ:BWB) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The firm had revenue of $38.96 million for the quarter, compared to analysts’ expectations of $36.93 million. Bridgewater Bancshares had a net margin of 17.69% and a return on equity of 11.06%. As a group, research analysts expect that Bridgewater Bancshares, Inc. will post 1.87 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jeffrey D. Shellberg sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $18.55, for a total value of $371,000.00. Following the completion of the sale, the director directly owned 25,000 shares in the company, valued at approximately $463,750. The trade was a 44.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mary Jayne Crocker sold 6,525 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $18.50, for a total transaction of $120,712.50. Following the completion of the sale, the director directly owned 209,502 shares of the company’s stock, valued at $3,875,787. This trade represents a 3.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 62,375 shares of company stock valued at $1,161,104. Insiders own 23.10% of the company’s stock.

About Bridgewater Bancshares

Bridgewater Bancshares, Inc is the bank holding company for Bridgewater Bank, a New Jersey-chartered community bank founded in 2006. Headquartered in Bridgewater, New Jersey, the company provides a broad array of financial services designed to meet the needs of both individual and business customers. As a locally focused institution, Bridgewater Bancshares emphasizes relationship banking, combining personalized service with the efficiency of modern banking technologies.

The company’s retail banking platform offers checking and savings accounts, certificates of deposit, money market accounts and consumer loan products.