Jeffrey D. Shellberg, a member of the board of directors at Bridgewater Bancshares Inc (NASDAQ:BWB), has completed a sale of common stock. On May 1, 2026, Mr. Shellberg sold 62 shares of the company's common stock at a price point of $18.50 per share. This transaction resulted in total proceeds of $1,147.
The sale was conducted indirectly through the Susan K. Shellberg Marital Trust, which was established on July 16, 2024. Mr. Shellberg serves as the trustee for this entity and maintains both investment power and voting rights over the assets held within it. Following the completion of this specific transaction, Mr. Shellberg's indirect interest in the company via this marital trust consists of 62,426 shares.
Mr. Shellberg maintains significant exposure to Bridgewater Bancshares through various other vehicles and direct holdings. His total beneficial ownership includes:
- Direct Holdings: 266,187 shares held directly in his own name.
- Jeffrey D. Shellberg Trust: 355,000 shares held via an agreement dated October 1, 2014, where he serves as trustee with full voting and investment authority.
- Susan K Shellberg Family Trust: 87,000 shares held through a trust dated July 16, 2024, also under his control as trustee.
Currently, Bridgewater Bancshares holds a market capitalization of $508.87 million, with its stock trading at approximately $18.27. While the recent sale occurred at $18.50, analyst price targets for the security currently range between $21 and $23.
Financial Context: Q1 2026 Earnings Performance
The insider transaction follows a period of significant financial reporting for the firm. Bridgewater Bancshares recently released its Q1 2026 earnings, which highlighted a strong performance in top-line revenue. The company reported revenue of $46.21 million, a figure that exceeded the anticipated $39.33 million by 17.49%.
In terms of profitability, the reported earnings per share (EPS) stood at $0.41, which was in line with expectations from analysts. Although the revenue beat indicated robust financial health and an ability to outperform projections, the market reaction to these results remained neutral. This performance underscores a company capable of maintaining expected earnings levels while simultaneously driving revenue growth beyond forecasted benchmarks.