Bridgewater Bancshares (NASDAQ:BWB) Announces Earnings Results

Bridgewater Bancshares (NASDAQ:BWB) announced its earnings results on Tuesday. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01), FiscalAI reports. The company had revenue of $38.96 million for the quarter, compared to analysts’ expectations of $36.93 million. Bridgewater Bancshares had a return on equity of 11.26% and a net margin of 17.69%.

Bridgewater Bancshares Stock Down 1.0%

Shares of Bridgewater Bancshares stock opened at $18.41 on Thursday. Bridgewater Bancshares has a one year low of $13.08 and a one year high of $20.30. The company has a market cap of $512.17 million, a P/E ratio of 10.40 and a beta of 0.61. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a fifty day moving average of $18.22 and a two-hundred day moving average of $17.94.

Insider Transactions at Bridgewater Bancshares

In related news, Director Thomas P. Trutna sold 13,000 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $19.51, for a total transaction of $253,630.00. Following the completion of the transaction, the director directly owned 82,634 shares of the company’s stock, valued at $1,612,189.34. This represents a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeffrey D. Shellberg sold 9,838 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $18.89, for a total transaction of $185,839.82. Following the completion of the sale, the director owned 266,187 shares of the company’s stock, valued at approximately $5,028,272.43. The trade was a 3.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 27,550 shares of company stock worth $532,343 over the last ninety days. 23.10% of the stock is currently owned by company insiders.

Institutional Trading of Bridgewater Bancshares

A number of institutional investors have recently modified their holdings of BWB. BNP Paribas Financial Markets lifted its holdings in Bridgewater Bancshares by 78.1% in the second quarter. BNP Paribas Financial Markets now owns 2,385 shares of the company’s stock valued at $38,000 after acquiring an additional 1,046 shares during the period. LPL Financial LLC grew its stake in shares of Bridgewater Bancshares by 7.8% during the 4th quarter. LPL Financial LLC now owns 11,770 shares of the company’s stock worth $206,000 after purchasing an additional 855 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Bridgewater Bancshares by 14.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,419 shares of the company’s stock valued at $218,000 after purchasing an additional 1,535 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Bridgewater Bancshares in the first quarter valued at about $178,000. Finally, Polymer Capital Management US LLC acquired a new stake in shares of Bridgewater Bancshares in the fourth quarter valued at about $226,000. 65.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BWB. Piper Sandler reissued an “overweight” rating and set a $23.00 price objective (up from $21.00) on shares of Bridgewater Bancshares in a research report on Thursday, January 29th. Weiss Ratings upgraded shares of Bridgewater Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, March 19th. Finally, DA Davidson reissued a “buy” rating and set a $22.00 price target on shares of Bridgewater Bancshares in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Bridgewater Bancshares currently has an average rating of “Moderate Buy” and an average price target of $21.67.

About Bridgewater Bancshares

Bridgewater Bancshares, Inc is the bank holding company for Bridgewater Bank, a New Jersey-chartered community bank founded in 2006. Headquartered in Bridgewater, New Jersey, the company provides a broad array of financial services designed to meet the needs of both individual and business customers. As a locally focused institution, Bridgewater Bancshares emphasizes relationship banking, combining personalized service with the efficiency of modern banking technologies.

The company’s retail banking platform offers checking and savings accounts, certificates of deposit, money market accounts and consumer loan products.