Bridgewater Bancshares (NASDAQ:BWB) Lifted to Buy at Zacks Investment Research

Bridgewater Bancshares (NASDAQ:BWBGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The firm currently has a $18.00 price target on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 13.56% from the stock’s current price.

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 dropped their price objective on shares of Bridgewater Bancshares from $23.00 to $21.00 in a report on Tuesday, April 12th.

BWB traded up $0.15 during midday trading on Tuesday, reaching $15.85. 48,115 shares of the company’s stock were exchanged, compared to its average volume of 39,774. The firm has a market capitalization of $443.40 million, a price-to-earnings ratio of 10.16 and a beta of 0.71. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.43. Bridgewater Bancshares has a one year low of $14.97 and a one year high of $20.05. The business has a 50-day simple moving average of $16.40 and a two-hundred day simple moving average of $17.22.

Bridgewater Bancshares (NASDAQ:BWBGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The company reported $0.39 earnings per share for the quarter, hitting the consensus estimate of $0.39. Bridgewater Bancshares had a net margin of 33.29% and a return on equity of 15.34%. As a group, research analysts anticipate that Bridgewater Bancshares will post 1.66 EPS for the current fiscal year.

In related news, CEO Jerry J. Baack sold 4,166 shares of the firm’s stock in a transaction that occurred on Wednesday, April 20th. The shares were sold at an average price of $16.79, for a total value of $69,947.14. Following the completion of the sale, the chief executive officer now owns 1,207,140 shares of the company’s stock, valued at $20,267,880.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 21.97% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BWB. 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 worth $152,000 after purchasing an additional 5,737 shares in the last quarter. Alliancebernstein L.P. lifted its position in Bridgewater Bancshares by 26.7% in the 3rd quarter. Alliancebernstein L.P. now owns 341,931 shares of the company’s stock valued at $5,987,000 after acquiring an additional 72,017 shares in the last quarter. Citigroup Inc. lifted its position in Bridgewater Bancshares by 83.2% in the 3rd quarter. Citigroup Inc. now owns 2,286 shares of the company’s stock valued at $40,000 after acquiring an additional 1,038 shares in the last quarter. American Century Companies Inc. lifted its position in Bridgewater Bancshares by 15.5% in the 3rd quarter. American Century Companies Inc. now owns 55,063 shares of the company’s stock valued at $964,000 after acquiring an additional 7,394 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Bridgewater Bancshares by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 365,603 shares of the company’s stock valued at $6,401,000 after acquiring an additional 1,200 shares in the last quarter. 48.68% of the stock is owned by hedge funds and other institutional investors.

About Bridgewater Bancshares (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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