EJF Capital LLC Purchases 32,875 Shares of Bridgewater Bancshares, Inc. $BWB

EJF Capital LLC boosted its position in Bridgewater Bancshares, Inc. (NASDAQ:BWB) by 20.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 195,642 shares of the company’s stock after acquiring an additional 32,875 shares during the period. Bridgewater Bancshares accounts for about 2.0% of EJF Capital LLC’s holdings, making the stock its 13th biggest position. EJF Capital LLC’s holdings in Bridgewater Bancshares were worth $3,443,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BWB. BNP Paribas Financial Markets increased its holdings in shares of Bridgewater Bancshares by 78.1% during the second quarter. BNP Paribas Financial Markets now owns 2,385 shares of the company’s stock valued at $38,000 after acquiring an additional 1,046 shares in the last quarter. First Trust Advisors LP increased its stake in Bridgewater Bancshares by 6.3% during the 2nd quarter. First Trust Advisors LP now owns 17,826 shares of the company’s stock valued at $284,000 after purchasing an additional 1,050 shares in the last quarter. Bridgeway Capital Management LLC increased its stake in Bridgewater Bancshares by 2.0% during the 2nd quarter. Bridgeway Capital Management LLC now owns 78,240 shares of the company’s stock valued at $1,245,000 after purchasing an additional 1,570 shares in the last quarter. CWM LLC raised its holdings in Bridgewater Bancshares by 182.1% during the second 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 last quarter. Finally, Empowered Funds LLC lifted its stake in shares of Bridgewater Bancshares by 10.1% in the first quarter. Empowered Funds LLC now owns 19,170 shares of the company’s stock valued at $266,000 after buying an additional 1,752 shares in the last quarter. Institutional investors and hedge funds own 65.83% of the company’s stock.

Bridgewater Bancshares Price Performance

Bridgewater Bancshares stock opened at $18.28 on Friday. Bridgewater Bancshares, Inc. has a 52 week low of $11.93 and a 52 week high of $20.30. The company’s 50 day moving average price is $18.63 and its two-hundred day moving average price is $17.58. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.19. The stock has a market cap of $504.16 million, a P/E ratio of 12.19 and a beta of 0.65.

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

Insider Activity

In related news, CFO Joseph M. Chybowski sold 5,211 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $18.05, for a total transaction of $94,058.55. Following the completion of the sale, the chief financial officer owned 105,349 shares in the company, valued at approximately $1,901,549.45. This trade represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas P. Trutna sold 13,000 shares of Bridgewater Bancshares stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $19.51, for a total transaction of $253,630.00. Following the completion of the sale, the director directly owned 82,634 shares in the company, valued at approximately $1,612,189.34. This represents a 13.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 89,982 shares of company stock worth $1,649,309. 23.27% of the stock is owned by insiders.

Analysts Set New Price Targets

BWB has been the topic of a number of analyst reports. Piper Sandler restated an “overweight” rating and issued a $23.00 target price (up from $21.00) on shares of Bridgewater Bancshares in a report on Thursday, January 29th. Stephens started coverage on Bridgewater Bancshares in a report on Wednesday, December 10th. They set an “equal weight” rating and a $20.00 price objective for the company. Weiss Ratings raised Bridgewater Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 19th. Finally, DA Davidson set a $24.00 target price on Bridgewater Bancshares in a research report on Thursday, January 29th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.33.

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.