Bridgewater Bancshares (NASDAQ:BWB) Cut to Hold at Zacks Research

Zacks Research lowered shares of Bridgewater Bancshares (NASDAQ:BWB) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

BWB has been the subject of a number of other research reports. DA Davidson boosted their price objective on shares of Bridgewater Bancshares from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Piper Sandler lifted their target price on Bridgewater Bancshares from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.00.

Bridgewater Bancshares Price Performance

Shares of NASDAQ:BWB opened at $17.11 on Tuesday. The firm’s 50 day moving average price is $16.24 and its 200-day moving average price is $15.26. Bridgewater Bancshares has a twelve month low of $11.93 and a twelve month high of $18.01. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $470.18 million, a PE ratio of 14.02 and a beta of 0.58.

Bridgewater Bancshares (NASDAQ:BWB) last announced its earnings results on Wednesday, July 23rd. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. Bridgewater Bancshares had a net margin of 14.03% and a return on equity of 9.73%. The company had revenue of $35.61 million during the quarter, compared to analyst estimates of $32.03 million. Equities research analysts expect that Bridgewater Bancshares will post 1.38 EPS for the current year.

Insider Activity at Bridgewater Bancshares

In related news, CEO Jerry J. Baack sold 20,000 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $16.02, for a total value of $320,400.00. Following the completion of the transaction, the chief executive officer owned 1,224,361 shares of the company’s stock, valued at approximately $19,614,263.22. This represents a 1.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas P. Trutna sold 6,152 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $16.40, for a total value of $100,892.80. Following the sale, the director directly owned 94,496 shares in the company, valued at approximately $1,549,734.40. This represents a 6.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 94,298 shares of company stock worth $1,508,238 in the last 90 days. Company insiders own 23.27% of the company’s stock.

Institutional Investors Weigh In On Bridgewater Bancshares

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its holdings in shares of Bridgewater Bancshares by 78.1% in the second quarter. BNP Paribas Financial Markets now owns 2,385 shares of the company’s stock worth $38,000 after buying an additional 1,046 shares in the last quarter. CWM LLC lifted its stake in Bridgewater Bancshares by 182.1% in the 2nd quarter. CWM LLC now owns 2,463 shares of the company’s stock worth $39,000 after purchasing an additional 1,590 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Bridgewater Bancshares during the 4th quarter valued at about $171,000. AQR Capital Management LLC purchased a new position in shares of Bridgewater Bancshares during the first quarter valued at about $178,000. Finally, Quantinno Capital Management LP purchased a new position in shares of Bridgewater Bancshares during the second quarter valued at about $259,000. 65.83% of the stock is owned by hedge funds and other institutional investors.

Bridgewater Bancshares Company Profile

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