🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

Bridgewater Bancshares EVP buys $6,896 in depositary shares

Published 30/10/2024, 22:32
BWB
-

Mary Jayne Crocker, Executive Vice President and Chief Strategy Officer at Bridgewater Bancshares Inc . (NASDAQ:BWB), recently acquired 330 depositary shares, valued at approximately $6,896. The transaction took place on October 29, with each share purchased at a price of $20.8999. Following this acquisition, Crocker holds a total of 5,105 shares indirectly through her spouse's IRA. Each depositary share represents a 1/100th interest in the company's 5.875% Non-Cumulative Perpetual Preferred Stock, Series A.

In other recent news, Bridgewater Bancshares reported stable growth in its third-quarter earnings, with earnings of $0.27 per share. The bank experienced consistent net interest income growth and a significant increase in core deposits. In addition, Bridgewater Bancshares announced an anticipated acquisition of First Minnetonka City Bank, which is expected to enhance liquidity and reduce the bank's commercial real estate concentration. Leadership changes were also part of the recent developments, with Nick Place and Lisa Salazar appointed as Chief Banking Officer and Chief Operating Officer respectively. The bank has projected a modest margin expansion in the upcoming quarter. Despite a decline in loan balances due to high loan payoffs, Bridgewater Bancshares reported a robust loan pipeline and strong loan demand. The acquisition of First Minnetonka City Bank is expected to close in the fourth quarter of 2024.

InvestingPro Insights

Mary Jayne Crocker's recent acquisition of Bridgewater Bancshares Inc. (NASDAQ:BWB) shares aligns with some interesting financial metrics and trends highlighted by InvestingPro. The company's stock has shown remarkable performance, with a 54.99% price total return over the past year and a significant 35.48% increase in the last six months. This upward trajectory suggests growing investor confidence, which may have influenced Crocker's decision to increase her stake.

Despite the positive stock performance, InvestingPro data reveals that Bridgewater Bancshares has a P/E ratio of 13.78, indicating a relatively modest valuation compared to some peers in the banking sector. This could potentially signal an opportunity for value investors.

InvestingPro Tips also point out that while the company has been profitable over the last twelve months, it suffers from weak gross profit margins. This juxtaposition of profitability and margin pressure might explain why insiders like Crocker are closely monitoring and adjusting their positions.

For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for Bridgewater Bancshares, providing a deeper understanding of the company's financial health and future prospects.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.