David B. Juran, a director at Bridgewater Bancshares Inc . (NASDAQ:BWB), recently sold a significant portion of his holdings in the company. The transactions, which occurred over three consecutive days, involved the sale of a total of 20,000 shares of common stock.
On October 29, Juran sold 14,531 shares at an average price of $14.7615, followed by the sale of 3,409 shares on October 30 at an average price of $14.8437. The final sale took place on October 31, involving 2,060 shares at an average price of $14.6587. The sales collectively amounted to $295,298, with the prices ranging from $14.6587 to $14.8437 per share.
Following these transactions, Juran now holds no shares directly in the trust account used for these sales. However, he maintains indirect ownership of other shares through various trusts.
In other recent news, Bridgewater Bancshares has reported stable growth for Q3, with earnings of $0.27 per share. The bank has demonstrated consistent net interest income growth and a steady net interest margin, accompanied by a significant increase in core deposits. The forthcoming acquisition of First Minnetonka City Bank is predicted to enhance liquidity and reduce commercial real estate concentration. Bridgewater Bancshares has also maintained strong asset quality, with no increase in net charge-offs or non-performing loans. Key leadership changes have been announced, setting the stage for a modest margin expansion in the upcoming quarter.
In addition to these developments, the bank anticipates a modest margin expansion starting in Q4 2024, influenced by the acquisition of First Minnetonka City Bank and improved net interest income. Despite a decline in loan balances due to high loan payoffs, there is a robust loan pipeline and strong loan demand. Lastly, Bridgewater Bancshares is optimistic about its growth strategy, citing strong deposit competition in the Twin Cities and a favorable response from the Federal Reserve's recent rate cut. The company's relationship with regulators remains positive, as reflected in the swift regulatory approval for the acquisition of First Minnetonka City Bank.
InvestingPro Insights
In light of David B. Juran's recent stock sales, it's worth examining Bridgewater Bancshares Inc.'s (NASDAQ:BWB) current financial position and market performance. According to InvestingPro data, BWB has a market capitalization of $402.06 million and a P/E ratio of 13.7, suggesting a relatively modest valuation compared to some peers in the banking sector.
Despite the director's decision to sell, BWB has shown impressive price performance. InvestingPro data reveals a substantial 52.44% price total return over the past year, with a particularly strong 34.93% gain in the last six months. This aligns with an InvestingPro Tip highlighting the "high return over the last year" and "large price uptick over the last six months."
However, investors should note that BWB's revenue growth has been negative, with a 10.26% decline in the last twelve months. This could be a factor in another InvestingPro Tip, which indicates that "net income is expected to drop this year." Despite this, the company remains profitable, with a healthy operating income margin of 44.37%.
For those seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for BWB, providing deeper insights into the company's financial health and prospects.
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