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.
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