Thrivent Financial for Lutherans Decreases Stake in Bridgewater Bancshares, Inc. $BWB

Thrivent Financial for Lutherans trimmed its position in Bridgewater Bancshares, Inc. (NASDAQ:BWB) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,321,186 shares of the company’s stock after selling 61,000 shares during the period. Thrivent Financial for Lutherans owned 8.45% of Bridgewater Bancshares worth $40,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its holdings in shares of Bridgewater Bancshares by 78.1% in the second quarter. BNP Paribas Financial Markets now owns 2,385 shares of the company’s stock valued at $38,000 after purchasing an additional 1,046 shares during the period. CWM LLC increased its holdings in Bridgewater Bancshares by 182.1% in the 2nd quarter. CWM LLC now owns 2,463 shares of the company’s stock worth $39,000 after buying an additional 1,590 shares during the period. Palouse Capital Management Inc. purchased a new position in Bridgewater Bancshares during the 3rd quarter worth approximately $113,000. AQR Capital Management LLC acquired a new stake in Bridgewater Bancshares during the 1st quarter valued at approximately $178,000. Finally, Quantinno Capital Management LP purchased a new stake in shares of Bridgewater Bancshares in the 2nd quarter valued at $259,000. Institutional investors and hedge funds own 65.83% of the company’s stock.

Bridgewater Bancshares Stock Up 2.2%

Bridgewater Bancshares stock opened at $19.63 on Tuesday. The stock has a market capitalization of $541.49 million, a PE ratio of 13.09 and a beta of 0.64. Bridgewater Bancshares, Inc. has a 12 month low of $11.93 and a 12 month high of $19.87. The business has a 50 day simple moving average of $18.18 and a 200-day simple moving average of $17.13. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.01 and a quick ratio of 1.01.

Bridgewater Bancshares (NASDAQ:BWB) last released its quarterly earnings results on Tuesday, January 27th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The firm had revenue of $38.84 million for the quarter, compared to analysts’ expectations of $36.10 million. Bridgewater Bancshares had a net margin of 15.74% and a return on equity of 11.07%. On average, analysts anticipate that Bridgewater Bancshares, Inc. will post 1.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Piper Sandler restated an “overweight” rating and set a $23.00 target price (up from $21.00) on shares of Bridgewater Bancshares in a research report on Thursday. DA Davidson set a $24.00 target price on Bridgewater Bancshares in a report on Thursday. Stephens began coverage on Bridgewater Bancshares in a research report on Wednesday, December 10th. They set an “equal weight” rating and a $20.00 price target for the company. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Bridgewater Bancshares in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.33.

Insider Activity at Bridgewater Bancshares

In other news, Director Jeffrey D. Shellberg sold 21,936 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $17.78, for a total value of $390,022.08. Following the transaction, the director owned 277,924 shares in the company, valued at $4,941,488.72. This trade represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Joseph M. Chybowski sold 6,780 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $17.99, for a total value of $121,972.20. Following the sale, the chief financial officer owned 104,560 shares of the company’s stock, valued at $1,881,034.40. The trade was a 6.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 118,482 shares of company stock worth $2,061,855 in the last quarter. Company insiders own 23.27% of the company’s stock.

Bridgewater Bancshares Company Profile

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.