In a recent transaction reported to the Securities and Exchange Commission, Thomas P. Trutna, a director at Bridgewater Bancshares Inc (NASDAQ:BWB), sold 2,000 shares of the company's common stock. The shares were sold at an average price of $15.1301 per share, resulting in a total transaction value of $30,260. Following this sale, Trutna now holds 100,780 shares directly.
Bridgewater Bancshares, headquartered in St. Louis Park, Minnesota, continues to operate within the state commercial banking sector. The sale was executed on November 7, 2024, and the details were filed with the SEC on November 8, 2024.
In other recent news, Bridgewater Bancshares has reported steady growth for Q3 with earnings of $0.27 per share. The company's net interest income growth has remained consistent and has seen a significant increase in core deposits. The planned acquisition of First Minnetonka City Bank is set to enhance liquidity and reduce commercial real estate concentration. Leadership changes have been announced, with Nick Place and Lisa Salazar taking on the roles of Chief Banking Officer and Chief Operating Officer, respectively.
The bank has also reported a decline in loan balances due to elevated loan payoffs, despite a strong demand for loans. However, the bank maintains a strong capital ratio, with CET1 increasing from 9.41% to 9.79%. Bridgewater Bancshares is optimistic about future growth, citing strong deposit competition and a favorable response from the Federal Reserve's recent rate cut. These developments are part of the company's recent news, indicating a focus on profitability and growth.
InvestingPro Insights
Following the recent insider transaction by director Thomas P. Trutna, it's worth examining some key financial metrics and insights for Bridgewater Bancshares Inc (NASDAQ:BWB). According to InvestingPro data, the company currently has a market capitalization of $411.93 million and a P/E ratio of 14.02, suggesting a relatively modest valuation compared to some peers in the banking sector.
Bridgewater Bancshares has demonstrated strong performance recently, with InvestingPro Tips highlighting a robust return over the last three months and a significant price uptick over the last six months. This positive momentum is further reflected in the company's impressive 1-year price total return of 44.59% as of the latest data.
Despite these positive indicators, InvestingPro Tips also point out that Bridgewater Bancshares suffers from weak gross profit margins and net income is expected to drop this year. These factors may have influenced the director's decision to sell shares. However, it's important to note that analysts predict the company will remain profitable this year, and it has been profitable over the last twelve months.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights beyond those mentioned here. In fact, there are 7 more InvestingPro Tips available for Bridgewater Bancshares, providing a deeper understanding of the company's financial health and market position.
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