Bridgewater Bancshares, Inc.
- Open
- 21.55
- Day high
- 21.80
- Day low
- 21.48
- Prev close
- 21.50
- Volume
- 176K
- Mkt cap
- $601M
- P/E (TTM)
- 11.9
- EPS (TTM)
- $1.81
- P/B
- 1.1
- P/S
- 2.0
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$1.2M over the last 3 months (1 open-market buy, 9 sales)
- 🏛Institutions mixed (13F)
Bridgewater Bancshares, Inc. (BWB) is a Financial Services company listed on NASDAQ. The stock is up 30% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 9 sales (SEC Form 4).
Bridgewater Bancshares, Inc. (BWB) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
BWB earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 22, 2026 | $0.42 | $0.41 | -2.4% | $39M | -0.9% |
| Jan 27, 2026 | $0.42 | $0.44 | +4.8% | $39M | +5.1% |
| Oct 21, 2025 | $0.41 | $0.39 | -4.9% | $36M | -0.2% |
| Jul 23, 2025 | $0.35 | $0.37 | +5.7% | $36M | +4.4% |
| Apr 23, 2025 | $0.29 | $0.32 | +10.3% | $32M | +6.6% |
| Jan 30, 2025 | $0.24 | $0.27 | +12.5% | $29M | +8.9% |
| Oct 23, 2024 | $0.24 | $0.28 | +16.7% | $27M | -1.3% |
| Jul 24, 2024 | $0.24 | $0.26 | +8.3% | $26M | -4.7% |
| Jan 24, 2024 | $0.25 | $0.28 | +12.0% | $25M | -8.1% |
| Oct 25, 2023 | $0.27 | $0.30 | +11.1% | $27M | -2.2% |
| Jul 26, 2023 | $0.31 | $0.31 | +0.0% | $27M | -11.2% |
| Jan 25, 2023 | $0.47 | $0.45 | -4.3% | $35M | -4.6% |
BWB insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 1, 2026 | Volk David J.director | Grant | 959 | — |
| Jul 1, 2026 | Parish Douglas J.director | Grant | 479 | — |
| Jul 1, 2026 | Urness Todd B.director | Grant | 959 | — |
| Jul 1, 2026 | Brezonik Lisadirector | Grant | 959 | — |
| Jul 1, 2026 | Lawal Mohammeddirector | Grant | 959 | — |
| Jul 1, 2026 | Juran David B.director | Grant | 959 | — |
| Jul 1, 2026 | Trutna Thomas P.director | Grant | 479 | — |
| Jul 1, 2026 | Crocker Mary Jaynedirector | Grant | 479 | — |
| Jul 1, 2026 | Johnson James S.director | Grant | 959 | — |
| Jun 11, 2026 | Salazar Lisa Mofficer: CHIEF OPERATING OFFICER | Option | 1,931 | $12.94 |
| Jun 8, 2026 | Place Nicholas L.officer: CHIEF BANKING OFFICER | Option | 12,500 | $7.47 |
| Jun 8, 2026 | Place Nicholas L.officer: CHIEF BANKING OFFICER | Sell | 4,688 | $19.27 |
| Jun 5, 2026 | Chybowski Joseph M.officer: PRESIDENT & CFO | Sell | 7,000 | $18.96 |
| Jun 5, 2026 | Chybowski Joseph M.officer: PRESIDENT & CFO | Option | 7,000 | $7.47 |
| May 22, 2026 | Crocker Mary Jaynedirector | Sell | 6,525 | $18.50 |
Source: BWB SEC Form 4 filings, latest Jul 1, 2026. For informational purposes only — not investment advice.
See the full BWB insider & 13F page →Bridgewater Bancshares, Inc. company profile
Overview
Bridgewater Bancshares, Inc. (NASDAQ:BWB) is a regional bank holding company founded in 2005 and headquartered in Saint Louis Park, Minnesota. The company operates through its subsidiary Bridgewater Bank, serving the Twin Cities metropolitan area with seven full-service banking offices. Since going public in March 2018, Bridgewater has positioned itself as a community-focused bank specializing in commercial real estate lending, particularly multifamily and affordable housing projects, while serving small business entrepreneurs and high net worth individuals in the Minneapolis-St. Paul region.
Business
Bridgewater Bancshares operates as a regional community bank in the highly competitive Twin Cities banking market. The company provides traditional banking services through two primary business segments: Commercial Banking Services represent the majority of revenue, focusing on commercial real estate lending which includes construction and land development loans, multifamily lending products (particularly affordable housing projects), and owner and non-owner occupied commercial real estate loans. The bank also provides commercial and industrial loans to sole proprietorships, partnerships, and corporations to finance accounts receivable, inventory, capital assets, and other business purposes. This segment likely generates approximately 70-80% of total revenue based on the company's loan portfolio composition. Retail Banking Services encompass traditional consumer banking products including savings and money market accounts, demand deposits, time deposits, certificates of deposit, 1-4 family mortgage loans, and consumer loans. The bank also offers digital banking services including online, mobile, and direct banking platforms. This segment represents the remaining 20-30% of revenue. The bank's specialty lies in multifamily lending, particularly in affordable housing projects where it has built expertise and relationships. With nearly $600 million in affordable housing loans representing 13% of the total loan portfolio, this niche focus differentiates Bridgewater from larger regional competitors. The company operates in the Minneapolis-St. Paul metropolitan area, a stable real estate market with lower overbuilding compared to national averages and consistent demand for affordable housing.
Competitive moat
Bridgewater's competitive moat is moderate but locally significant, built primarily around specialized expertise and relationships in the Twin Cities commercial real estate market. The bank's strongest defensive position lies in its affordable housing lending specialization, where it has developed deep knowledge of complex financing structures, regulatory requirements, and established relationships with developers and housing authorities. This expertise creates switching costs for borrowers who value the bank's understanding of their specific needs. The company benefits from relationship banking advantages in a market where personal connections and local decision-making authority matter. Unlike large national banks with centralized underwriting, Bridgewater can make lending decisions locally and quickly, providing value to time-sensitive commercial real estate transactions. The bank's focus on high-net-worth individuals and successful business owners creates some customer stickiness through comprehensive relationship management. However, the moat faces significant challenges. Geographic concentration in the Twin Cities limits diversification and creates vulnerability to local economic downturns. The commercial real estate lending space attracts competition from credit unions, regional banks, and non-bank lenders, particularly during favorable credit cycles. Technology disruption threatens traditional relationship banking as fintech companies offer faster, more convenient lending solutions. Large national banks possess superior resources for technology investment and can compete aggressively on pricing when desired. The bank's small size ($5.1 billion in assets) limits its ability to serve larger commercial clients and constrains lending capacity for significant projects, potentially forcing client relationships to outgrow the bank's capabilities.
Risks & safety
Bridgewater demonstrates solid financial stability with adequate liquidity and manageable risk levels, though some concentration concerns exist. • Liquidity and Cash Position: Strong cash position of $170 million plus additional liquid assets; loan-to-deposit ratio improved to 95% from historical highs above 100% • Debt and Solvency: Debt-to-equity ratio of 0.94 is reasonable for a bank; well-capitalized with no immediate solvency concerns • Credit Quality: Excellent asset quality with minimal charge-offs historically; non-performing assets at only 0.2% of total assets • Valuation Metrics: Trading at 0.82x book value and 9.9x earnings, suggesting reasonable valuation relative to fundamentals • Profitability: ROE of 2.1% quarterly (7.2% annualized) indicates adequate but not exceptional profitability • Risk Concentrations: High commercial real estate concentration creates cyclical risk; geographic concentration in Twin Cities market limits diversification • Regulatory Environment: Subject to banking regulations and potential scrutiny due to CRE concentration levels
Recent development
Over the past several years, Bridgewater has executed a strategic transformation focused on balance sheet optimization and market expansion. The most significant recent development was the December 2024 acquisition of First Minnetonka City Bank, the company's first acquisition since 2016. This transaction brought low-cost deposits, reduced commercial real estate concentration, and added an investment advisory platform to diversify revenue streams. The bank has invested heavily in technology infrastructure, including upgrading retail and small business online banking platforms, implementing a new CRM system, and developing enhanced digital capabilities to compete with larger institutions. These investments support the bank's relationship-focused strategy while improving operational efficiency. Strategic market positioning has evolved toward targeted growth in specific verticals, particularly affordable housing lending where the portfolio has grown to nearly $600 million. The bank has also focused on building relationships through networking initiatives, including women's business networks and industry-specific events. Leadership changes included promoting Nick Place to Chief Banking Officer and Lisa Salazar to Chief Operating Officer, reflecting the bank's emphasis on relationship management and operational excellence. The company has shifted from aggressive growth to balanced expansion, targeting mid-to-high single-digit loan growth while prioritizing core deposit gathering. This approach has improved the loan-to-deposit ratio and enhanced liquidity positioning. Management has also maintained disciplined expense management while investing in talent acquisition and retention, earning recognition as a top workplace for five consecutive years.
BWB company profile · for informational purposes only — not investment advice.
Track BWB with Drillr
SEC filings, earnings calls, insider activity, alt-data signals — all queryable through Drillr's AI terminal and MCP API.
Try Drillr for free