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

Bridgewater Bancshares, Inc. (NASDAQ:BWB) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 203,400 shares, a drop of 13.2% from the May 15th total of 234,200 shares. Currently, 1.1% of the company’s stock are short sold. Based on an average daily volume of 46,000 shares, the days-to-cover ratio is presently 4.4 days.

Bridgewater Bancshares Stock Performance

NASDAQ:BWB traded down $0.02 on Friday, hitting $10.79. The stock had a trading volume of 44,224 shares, compared to its average volume of 39,426. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.08. The stock has a market cap of $295.19 million, a price-to-earnings ratio of 9.54 and a beta of 0.69. The business’s 50-day simple moving average is $11.50 and its two-hundred day simple moving average is $11.85. Bridgewater Bancshares has a 52-week low of $8.00 and a 52-week high of $14.43.

Bridgewater Bancshares (NASDAQ:BWB) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). The business had revenue of $26.18 million during the quarter, compared to the consensus estimate of $26.80 million. Bridgewater Bancshares had a return on equity of 10.20% and a net margin of 15.37%. As a group, research analysts predict that Bridgewater Bancshares will post 1 earnings per share for the current year.

Institutional Trading of Bridgewater Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its position in shares of Bridgewater Bancshares by 16.7% in the third quarter. FMR LLC now owns 1,647,159 shares of the company’s stock valued at $15,615,000 after acquiring an additional 236,281 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Bridgewater Bancshares by 300.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,861 shares of the company’s stock valued at $79,000 after buying an additional 4,396 shares during the last quarter. Banc Funds Co. LLC lifted its holdings in shares of Bridgewater Bancshares by 196.3% in the fourth quarter. Banc Funds Co. LLC now owns 186,704 shares of the company’s stock worth $2,524,000 after buying an additional 123,695 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Bridgewater Bancshares in the fourth quarter worth $157,000. Finally, Russell Investments Group Ltd. grew its stake in Bridgewater Bancshares by 25.8% during the fourth quarter. Russell Investments Group Ltd. now owns 173,198 shares of the company’s stock valued at $2,342,000 after acquiring an additional 35,546 shares in the last quarter. Hedge funds and other institutional investors own 65.83% of the company’s stock.

Analysts Set New Price Targets

BWB has been the topic of several analyst reports. Hovde Group initiated coverage on Bridgewater Bancshares in a report on Monday, March 4th. They issued an “outperform” rating on the stock. TheStreet lowered shares of Bridgewater Bancshares from a “b-” rating to a “c+” rating in a research note on Monday, March 11th. Finally, Piper Sandler reiterated an “overweight” rating and set a $14.00 price target (down previously from $14.50) on shares of Bridgewater Bancshares in a report on Friday, April 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.