Bridgewater Bancshares’ (BWB) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Bridgewater Bancshares (NASDAQ:BWB) in a report issued on Friday morning, Benzinga reports. Piper Sandler currently has a $14.00 target price on the stock, down from their previous target price of $14.50.

BWB has been the topic of several other research reports. Hovde Group initiated coverage on shares of Bridgewater Bancshares in a research note on Monday, March 4th. They issued an outperform rating on the stock. DA Davidson increased their price objective on shares of Bridgewater Bancshares from $15.00 to $16.00 and gave the stock a buy rating in a research note on Friday, January 26th. Finally, TheStreet cut shares of Bridgewater Bancshares from a b- rating to a c+ rating in a research note on Monday, March 11th.

Bridgewater Bancshares Price Performance

Shares of NASDAQ:BWB opened at $11.75 on Friday. The firm’s 50 day moving average price is $11.61 and its 200-day moving average price is $11.50. Bridgewater Bancshares has a twelve month low of $7.90 and a twelve month high of $14.43. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $325.59 million, a PE ratio of 10.40 and a beta of 0.65.

Insider Buying and Selling at Bridgewater Bancshares

In other Bridgewater Bancshares news, CEO Jerry J. Baack sold 15,687 shares of Bridgewater Bancshares stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $13.11, for a total transaction of $205,656.57. Following the transaction, the chief executive officer now owns 1,237,351 shares of the company’s stock, valued at $16,221,671.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Bridgewater Bancshares news, CEO Jerry J. Baack sold 15,687 shares of Bridgewater Bancshares stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $13.11, for a total transaction of $205,656.57. Following the transaction, the chief executive officer now owns 1,237,351 shares of the company’s stock, valued at $16,221,671.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James S. Johnson sold 12,590 shares of Bridgewater Bancshares stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $11.62, for a total transaction of $146,295.80. Following the transaction, the director now directly owns 94,063 shares in the company, valued at approximately $1,093,012.06. The disclosure for this sale can be found here. Insiders own 23.21% of the company’s stock.

Hedge Funds Weigh In On Bridgewater Bancshares

Several hedge funds have recently modified their holdings of the stock. FMR LLC lifted its holdings 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 worth $15,615,000 after buying an additional 236,281 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its holdings in shares of Bridgewater Bancshares by 7.4% in the third quarter. Punch & Associates Investment Management Inc. now owns 654,300 shares of the company’s stock worth $6,203,000 after buying an additional 45,000 shares in 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. Russell Investments Group Ltd. lifted its holdings in shares of Bridgewater Bancshares by 25.8% in the fourth quarter. Russell Investments Group Ltd. now owns 173,198 shares of the company’s stock worth $2,342,000 after buying an additional 35,546 shares in the last quarter. Finally, BHZ Capital Management LP lifted its holdings in shares of Bridgewater Bancshares by 8.2% in the fourth quarter. BHZ Capital Management LP now owns 48,132 shares of the company’s stock worth $651,000 after buying an additional 3,663 shares in the last quarter. Hedge funds and other institutional investors own 65.83% of the company’s stock.

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.