Bridgewater Bancshares (BWB)
Twin Cities commercial bank built on relationship-driven multifamily and real-estate lending.
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A commercial bank holding company focused on relationship lending to real estate investors and business owners across the Twin Cities, funded mostly by locally sourced deposits. Multifamily and commercial real estate anchor the loan book, with a first acquisition adding investment-advisory fee income to an otherwise organically built franchise.
Operates as a commercial bank holding company built around relationship lending to commercial real estate investors, entrepreneurs, and business clients across the Minneapolis-St. Paul market, funded by locally sourced deposits gathered through a lean branch network.
Multifamily lending anchors the loan book, underwritten with local credit authority and a track record of negligible losses since the bank's 2005 founding. Commercial real estate excluding multifamily makes up a large share of the remainder, alongside smaller commercial-and-industrial and residential-mortgage lines.
Net interest income drives most revenue; treasury-management fees and a newly added investment-advisory line, gained through the acquisition of First Minnetonka City Bank, its first material deal after two decades of organic growth, round out the mix.
Real estate loan balances concentrate in the Twin Cities metro, and the bank operates as a state-chartered institution under federal and Minnesota banking supervision.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 6, 2026 | Stephens | Upgrade | Rating: —Target: — | Target: $25 |
| Jul 23, 2026 | Piper Sandler | Reiterate | Rating: —Target: $23 | Target: $24 |
| Jan 29, 2026 | DA Davidson | Reiterate | Rating: —Target: $21 | Target: $24 |
| Jan 29, 2026 | Piper Sandler | Reiterate | Rating: —Target: $18 | Target: $23 |
| Oct 22, 2025 | DA Davidson | Reiterate | Rating: —Target: $17 | Target: $21 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $775.2M · Total debt $434.9M · Total assets $5.39B · Shareholders' equity $547.9M
- Revenue
- $24.1M
- Operating income
- −$22.8M
- Net income
- $14.0M
No dividends on record.
| Institutions | ≈ 64.99% | 18.12M shares | |
|---|---|---|---|
| 151 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 15.17% | 4.23M shares | |
| 17 holders · as of Sep 16, 2026 | |||
| Other | ≈ 19.84% | 5.53M shares | |
| remainder | |||
27.88M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Thrivent Financial for LutheransInstitution | 7.91% | 2.21M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 6.33% | 1.77M | as of Jun 30, 2026 |
David B. Juran1,2Insiderdirector | 5.56% | 1.59M | filed Sep 3, 2026 |
Jerry J. Baack3,4Insiderdirector, officer: CEO | 4.99% | 1.43M | filed Aug 18, 2026 |
AllianceBernstein L.P.Institution | 4.81% | 1.34M | as of Jun 30, 2026 |
- David B. Juran's transaction reports restate only vehicles that traded; the 2026 ownership statement (1.59M) less the 40.0K net shares sold since is used instead.
- David B. Juran reports a block also reported by AllianceBernstein L.P.; it is counted once, under AllianceBernstein L.P.
- Jerry J. Baack's transaction reports restate only vehicles that traded; the 2026 ownership statement (1.43M) less the 38.5K net shares sold since is used instead.
- Jerry J. Baack reports a block also reported by Dimensional Fund Advisors LP; it is counted once, under Dimensional Fund Advisors LP.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 15, 2026 | Jessica Anne Stejskal | officer: Chief Experience Officer | −400 | $21.25 |
| Sep 9, 2026 | Douglas J. Parish | director | −4,000 | $21.38 |
| Sep 2, 2026 | David B. Juran | director | −623 | $21.50 |
| Aug 28, 2026 | David B. Juran | director | −518 | $21.50 |
| Aug 25, 2026 | David B. Juran | director | −940 | $21.54 |
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CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Bridgewater Bancshares | $20.83 | −0.10% | $583.3M | 11.4 | 10.6 | 2.3 | +14.5% |
| Old National Bancorp | $25.03 | +0.02% | $9.66B | 11.1 | 9.2 | 2.4 | +12.3% |
| Alerus Financial | $32.20 | −0.19% | $815.2M | 30.0 | 12.0 | 2.4 | +8.3% |
| Nicolet Bankshares | $165.65 | −0.08% | $2.86B | 18.4 | 12.9 | 5.5 | +227.9% |
| Great Southern Bancorp | $78.42 | −0.03% | $855.7M | 13.1 | 14.2 | 2.7 | −3.9% |
| First Business Financial Services | $70.24 | 0.00% | $594.6M | 10.7 | 10.6 | 2.1 | +13.8% |
| Median | 13.1 | 12.0 | 2.4 | +12.3% |