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ST. LOUIS PARK, MN – Bridgewater Bancshares Inc (NASDAQ:BWB) reported that Director Thomas P. Trutna sold 5,000 shares of company stock on September 4, 2024. The transaction was executed at a weighted average price of $14.1115 per share, resulting in a total sale value of $70,557.
The shares were sold in multiple transactions with prices ranging from $13.50 to $14.29. Following the sale, Trutna's remaining stake in the company consists of 102,072 shares of common stock.
The sale was disclosed in a legal filing with the Securities and Exchange Commission, which noted that the director undertook to provide full information regarding the number of shares sold at each separate price upon request.
Bridgewater Bancshares Inc., based in St. Louis Park, Minnesota, operates as a state commercial bank. The company's shares are traded on the NASDAQ under the ticker symbol BWB.
This recent transaction provides current and potential investors with up-to-date information on the trading activities of the company's insiders, which can be an indicator of the company's performance and outlook from the perspective of those closest to its operations.
In other recent news, Bridgewater Bancshares has been at the center of several significant developments. The company recently announced acquiring First Minnetonka City Bank in an all-cash transaction, a move that Piper Sandler believes will add value to Bridgewater Bancshares' presence in the Minneapolis market. The acquisition is projected to result in a 15% earnings per share accretion for Bridgewater Bancshares in 2025.
Piper Sandler has maintained an Overweight rating on Bridgewater Bancshares, reiterating a $17.00 price target. The firm's confidence is bolstered by Bridgewater Bancshares' recent financial results, which highlighted a stabilized net interest margin and a resurgence in revenue growth for the first time in nearly two years. Despite subdued loan and deposit growth, the company maintained strong asset quality with no net charge-offs and low non-performing assets.
Bridgewater Bancshares also marked its 30th consecutive quarter of tangible book value per share growth. In other company developments, Bridgewater Bancshares was recognized as a top workplace for the fifth consecutive year and launched a new CRM platform, while also making key hires in the treasury and banking areas. The company is focused on optimizing the balance sheet for longer-term growth and expects more robust payoff levels in the second half of the year.
InvestingPro Insights
Bridgewater Bancshares Inc (NASDAQ:BWB) has experienced noteworthy developments that could be of interest to investors. According to InvestingPro data, BWB has a market capitalization of $378.52 million and a Price/Earnings (P/E) ratio of 12.6, which adjusts to 12.43 when considering the last twelve months as of Q2 2024. This suggests that the company's earnings are valued at a reasonable level in the market. Additionally, the company's stock is trading at approximately 92.62% of its 52-week high with a previous close price of $13.96.
One of the InvestingPro Tips highlights that Bridgewater Bancshares has a strong return over the last three months, with a 25.2% price total return, which could be a positive sign for investors looking at the company's recent performance. Moreover, analysts predict that the company will be profitable this year, aligning with the fact that the company has been profitable over the last twelve months.
However, there are areas of concern investors should be aware of. The company suffers from weak gross profit margins and has seen a revenue decline of -14.27% over the last twelve months as of Q2 2024. Furthermore, two analysts have revised their earnings estimates downwards for the upcoming period, and net income is expected to drop this year. These factors may weigh on the company's financial outlook and could be a signal for investors to monitor closely.
For those interested in a more in-depth analysis, there are additional InvestingPro Tips available at InvestingPro for Bridgewater Bancshares, which provide further insights into the company's financial health and future prospects.
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