Thrivent Financial for Lutherans Reduces Position in Bridgewater Bancshares, Inc. $BWB

Thrivent Financial for Lutherans decreased its position in shares of Bridgewater Bancshares, Inc. (NASDAQ:BWB) by 12.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,382,186 shares of the company’s stock after selling 347,236 shares during the period. Thrivent Financial for Lutherans owned 0.09% of Bridgewater Bancshares worth $37,901,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Bridgewater Bancshares by 3.7% during the second quarter. Geode Capital Management LLC now owns 466,941 shares of the company’s stock worth $7,431,000 after acquiring an additional 16,578 shares during the last quarter. American Century Companies Inc. raised its position in Bridgewater Bancshares by 13.8% in the 2nd quarter. American Century Companies Inc. now owns 439,255 shares of the company’s stock valued at $6,989,000 after purchasing an additional 53,258 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Bridgewater Bancshares by 2.7% during the 1st quarter. Acadian Asset Management LLC now owns 370,052 shares of the company’s stock worth $5,138,000 after purchasing an additional 9,588 shares during the period. Tradition Wealth Management LLC grew its position in Bridgewater Bancshares by 0.6% during the 1st quarter. Tradition Wealth Management LLC now owns 357,516 shares of the company’s stock worth $4,966,000 after purchasing an additional 2,175 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Bridgewater Bancshares by 87.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 217,530 shares of the company’s stock valued at $3,461,000 after purchasing an additional 101,628 shares during the period. Hedge funds and other institutional investors own 65.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BWB. Stephens initiated coverage on shares of Bridgewater Bancshares in a research note on Wednesday, December 10th. They set an “equal weight” rating and a $20.00 target price for the company. DA Davidson reaffirmed a “buy” rating and set a $21.00 price objective on shares of Bridgewater Bancshares in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Bridgewater Bancshares in a report on Wednesday, October 8th. Finally, Zacks Research cut Bridgewater Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.33.

Insider Buying and Selling

In other Bridgewater Bancshares news, CFO Joseph M. Chybowski sold 5,211 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $18.05, for a total transaction of $94,058.55. Following the completion of the transaction, the chief financial officer owned 105,349 shares of the company’s stock, 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, COO Lisa M. Salazar sold 2,175 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $16.72, for a total value of $36,366.00. Following the completion of the transaction, the chief operating officer directly owned 32,091 shares of the company’s stock, valued at approximately $536,561.52. This trade represents a 6.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 127,921 shares of company stock valued at $2,222,413 in the last quarter. Corporate insiders own 23.27% of the company’s stock.

Bridgewater Bancshares Price Performance

Shares of BWB opened at $18.69 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.19. The stock’s 50 day moving average is $17.19 and its two-hundred day moving average is $16.49. Bridgewater Bancshares, Inc. has a twelve month low of $11.93 and a twelve month high of $19.00. The firm has a market capitalization of $515.56 million, a PE ratio of 14.05 and a beta of 0.65.

Bridgewater Bancshares (NASDAQ:BWB) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.28 EPS for the quarter. Bridgewater Bancshares had a return on equity of 10.27% and a net margin of 14.52%.The business had revenue of $26.75 million during the quarter. Research analysts anticipate that Bridgewater Bancshares, Inc. will post 1.38 earnings per share for the current year.

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.