Bridgewater Bancshares (NASDAQ:BWB) Downgraded by Zacks Investment Research to Hold

Bridgewater Bancshares (NASDAQ:BWB – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday, Zacks.com reports.

According to Zacks, “Bridgewater Bancshares Inc. operates as a holding company for Bridgewater Bank which provides personal and commercial banking products and services to commercial real estate investors, small business entrepreneurs and high-net-worth individuals. The company offers checking, savings, money market savings, certificates of deposit accounts; bridge, home equity, residential interim construction, lot, construction, commercial real estate, long term multi-family, working capital, letters of credit and executive lines of credit options and debit and credit cards. Bridgewater Bancshares Inc. is headquartered in Bloomington, Minnesota. “

Separately, B. Riley reduced their target price on Bridgewater Bancshares from $23.00 to $21.00 in a report on Tuesday, April 12th.

NASDAQ:BWB traded up $0.27 on Monday, reaching $15.70. 45,273 shares of the company’s stock traded hands, compared to its average volume of 39,690. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.43. The stock has a 50-day simple moving average of $16.40 and a 200-day simple moving average of $17.22. The firm has a market cap of $439.21 million, a PE ratio of 10.06 and a beta of 0.71. Bridgewater Bancshares has a 12 month low of $14.97 and a 12 month high of $20.05.

Bridgewater Bancshares (NASDAQ:BWB – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The company reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. Bridgewater Bancshares had a return on equity of 15.34% and a net margin of 33.29%. On average, equities analysts anticipate that Bridgewater Bancshares will post 1.66 earnings per share for the current year.

In other Bridgewater Bancshares news, CEO Jerry J. Baack sold 4,166 shares of the business’s stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $16.79, for a total transaction of $69,947.14. Following the sale, the chief executive officer now directly owns 1,207,140 shares of the company’s stock, valued at $20,267,880.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 21.97% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in shares of Bridgewater Bancshares during the third quarter valued at approximately $226,000. Barclays PLC boosted its position in shares of Bridgewater Bancshares by 195.5% during the third quarter. Barclays PLC now owns 8,671 shares of the company’s stock valued at $152,000 after buying an additional 5,737 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Bridgewater Bancshares by 26.7% in the third quarter. Alliancebernstein L.P. now owns 341,931 shares of the company’s stock valued at $5,987,000 after purchasing an additional 72,017 shares during the period. Citigroup Inc. boosted its holdings in shares of Bridgewater Bancshares by 83.2% in the third quarter. Citigroup Inc. now owns 2,286 shares of the company’s stock valued at $40,000 after purchasing an additional 1,038 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Bridgewater Bancshares by 15.5% in the third quarter. American Century Companies Inc. now owns 55,063 shares of the company’s stock valued at $964,000 after purchasing an additional 7,394 shares during the period. 48.68% of the stock is currently owned by institutional investors.

Bridgewater Bancshares Company Profile (Get Rating)

Bridgewater Bancshares, Inc operates as the bank holding company for Bridgewater Bank that provides banking products and services to commercial real estate investors, small business entrepreneurs, and high net worth individuals in the United States. The company offers savings and money market accounts, demand deposits, time and brokered deposits, and interest and noninterest bearing transaction, as well as certificates of deposit.

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