Bridgewater Bancshares (BWBBP) Stock Price, News & Analysis

Bridgewater Bancshares, Inc. Depositary Shares (Nasdaq: BWBBP) represent interests in the preferred equity of Bridgewater Bancshares, Inc., the parent company of Bridgewater Bank. Each BWBBP depositary share represents a 1/100th interest in a share of the Company’s 5.875% Non-Cumulative Perpetual Preferred Stock, Series A, as described in the company’s disclosures. Bridgewater Bancshares, Inc. is a Minnesota corporation and a financial holding company in the savings institutions segment of the broader finance and insurance sector.

The preferred stock underlying BWBBP is non-cumulative and perpetual, meaning it has no stated maturity date and unpaid dividends do not accumulate if they are not declared. The Company has disclosed that its Board of Directors may declare quarterly cash dividends on the Series A Preferred Stock, and that these dividends are payable on each share of preferred stock and, proportionately, on each related depositary share. For example, in connection with its second quarter 2025 earnings release, the Company announced a quarterly cash dividend on the 5.875% Non-Cumulative Perpetual Preferred Stock, Series A, specifying the amount per preferred share and the equivalent amount per BWBBP depositary share.

Bridgewater Bancshares, Inc. trades its common stock on The Nasdaq Stock Market LLC under the symbol BWB, and the BWBBP depositary shares also trade on Nasdaq, as indicated in the Company’s filings. The Company is headquartered in St. Louis Park, Minnesota, and operates as the parent of Bridgewater Bank. Through the bank, Bridgewater Bancshares, Inc. focuses on personal and commercial banking activities, including savings and deposit products and various loan categories, with a principal geographic focus in the Twin Cities Metropolitan Statistical Area in the United States, according to available descriptions.

From an investor perspective, BWBBP offers exposure to the Company’s preferred equity structure rather than its common equity. The Series A Preferred Stock is separate from the Company’s subordinated notes and other debt instruments described in its filings. For instance, in June 2025 the Company entered into a Subordinated Note Purchase Agreement and issued 7.625% Fixed-to-Floating Rate Subordinated Notes due 2035, which are unsecured, subordinated obligations intended to qualify as Tier 2 capital. Those notes are distinct from the perpetual preferred stock that underlies the BWBBP depositary shares.

Relationship to Bridgewater Bancshares, Inc. and Capital Structure

Bridgewater Bancshares, Inc. uses a mix of common equity, preferred equity, and subordinated debt in its capital structure. The BWBBP depositary shares are tied specifically to the 5.875% Non-Cumulative Perpetual Preferred Stock, Series A. The Company’s SEC filings describe how the Board of Directors can declare quarterly cash dividends on this preferred stock, and how those dividends are paid on a per-share basis and translated into an equivalent amount per depositary share. The Company has also disclosed a stock repurchase program for its common stock and the issuance and planned exchange of subordinated notes, illustrating how preferred equity like BWBBP fits alongside other capital instruments.

In its periodic earnings press releases, Bridgewater Bancshares, Inc. reports key performance metrics such as net income, net interest margin on a fully tax-equivalent basis, tangible book value per share, loan and deposit growth, and asset quality measures. While these disclosures primarily relate to the consolidated company and its common equity, they provide important context for understanding the credit profile of the issuer behind the BWBBP preferred shares.

Operating Focus and Geographic Footprint

According to available descriptions, Bridgewater Bancshares, Inc. operates through Bridgewater Bank with a focus on savings and other deposit products, as well as a range of commercial and real estate lending activities. The Company has highlighted its presence in the Twin Cities Metropolitan Statistical Area in the United States, and its earnings releases frequently reference trends in commercial real estate, multifamily lending, and core deposit growth in that market. The bank’s performance, including net interest income, loan growth, core deposits, and asset quality ratios, underpins the financial strength that supports both its common and preferred equity.

Regulatory and Exchange Listings

Bridgewater Bancshares, Inc. is subject to U.S. banking and securities regulation and files regular reports with the U.S. Securities and Exchange Commission. The Company’s SEC filings, including Forms 10-K, 10-Q, and 8-K, identify The Nasdaq Stock Market LLC as the listing venue for both its common stock and the BWBBP depositary shares. The Company has also filed 8-K reports describing material events such as the issuance of subordinated notes, executive leadership changes, extensions of its stock repurchase program, and the declaration of dividends on the Series A Preferred Stock.

How BWBBP Fits Different Investor Objectives

Because each BWBBP depositary share represents a fractional interest in a share of non-cumulative perpetual preferred stock, these securities are structurally different from common shares. They sit above common equity but below senior debt and subordinated notes in the capital stack, and are designed to provide a stated dividend rate when declared by the Board. Investors who follow BWBBP typically monitor the Company’s earnings releases, capital actions, and regulatory filings to assess the issuer’s overall financial condition and its approach to preferred dividends.

Key Characteristics of BWBBP

• Issuer: Bridgewater Bancshares, Inc., a Minnesota corporation and parent of Bridgewater Bank.
• Security type: Depositary shares, each representing a 1/100th interest in a share of 5.875% Non-Cumulative Perpetual Preferred Stock, Series A.
• Exchange listing: The Nasdaq Stock Market LLC, as indicated in Company filings.
• Dividend feature: Cash dividends on the Series A Preferred Stock, when declared by the Board, with an equivalent amount specified per BWBBP depositary share.
• Perpetual, non-cumulative structure: No stated maturity date and dividends do not accumulate if not declared.
• Sector and industry: Finance and insurance sector, savings institutions industry.
• Geographic focus of operating bank: Twin Cities Metropolitan Statistical Area in the United States, according to Company descriptions.

Using Stock Titan’s BWBBP Overview

The BWBBP overview page on Stock Titan aggregates structured information about Bridgewater Bancshares, Inc.’s preferred depositary shares alongside context from the issuer’s broader financial reporting. By reviewing this page, investors can see how the BWBBP security relates to the Company’s capital structure, dividend practices on the Series A Preferred Stock, and the financial performance of the underlying banking franchise as disclosed in earnings releases and SEC filings.