DA Davidson Reiterates “Buy” Rating for Bridgewater Bancshares (NASDAQ:BWB)

Bridgewater Bancshares (NASDAQ:BWB)‘s stock had its “buy” rating reissued by analysts at DA Davidson in a note issued to investors on Wednesday, Marketbeat reports. They presently have a $21.00 price target on the stock. DA Davidson’s target price indicates a potential upside of 24.63% from the stock’s previous close.

BWB has been the topic of a number of other reports. Zacks Research cut Bridgewater Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Piper Sandler increased their target price on Bridgewater Bancshares from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Bridgewater Bancshares in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

Bridgewater Bancshares Price Performance

Shares of BWB stock opened at $16.85 on Wednesday. The stock has a market cap of $463.04 million, a price-to-earnings ratio of 12.67 and a beta of 0.59. The business’s fifty day moving average is $16.78 and its 200 day moving average is $15.74. 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.

Bridgewater Bancshares (NASDAQ:BWB) last released its earnings results on Tuesday, February 18th. The company reported $0.28 EPS for the quarter. Bridgewater Bancshares had a return on equity of 10.46% and a net margin of 14.52%.The firm had revenue of $26.75 million for the quarter. Research analysts expect that Bridgewater Bancshares will post 1.38 EPS for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in Bridgewater Bancshares by 3.7% in the second quarter. Geode Capital Management LLC now owns 466,941 shares of the company’s stock valued at $7,431,000 after acquiring an additional 16,578 shares during the period. American Century Companies Inc. raised its stake in shares of Bridgewater Bancshares by 13.8% in the second quarter. American Century Companies Inc. now owns 439,255 shares of the company’s stock worth $6,989,000 after buying an additional 53,258 shares during the period. Acadian Asset Management LLC raised its stake in shares of Bridgewater Bancshares by 2.7% in the first quarter. Acadian Asset Management LLC now owns 370,052 shares of the company’s stock worth $5,138,000 after buying an additional 9,588 shares during the period. Tradition Wealth Management LLC raised its stake in shares of Bridgewater Bancshares by 0.6% in the first quarter. Tradition Wealth Management LLC now owns 357,516 shares of the company’s stock worth $4,966,000 after buying an additional 2,175 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Bridgewater Bancshares by 87.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 217,530 shares of the company’s stock worth $3,461,000 after buying an additional 101,628 shares during the period. Institutional investors own 65.83% of the company’s stock.

About Bridgewater Bancshares

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.