Bridgewater Bancshares (NASDAQ:BWB) Receives Buy Rating from DA Davidson

DA Davidson reaffirmed their buy rating on shares of Bridgewater Bancshares (NASDAQ:BWB) in a report issued on Wednesday morning,Benzinga reports. DA Davidson currently has a $22.00 price objective on the stock.

Several other equities analysts have also recently issued reports on the company. Piper Sandler restated an “overweight” rating and set a $23.00 price objective (up from $21.00) on shares of Bridgewater Bancshares in a research note on Thursday, January 29th. Weiss Ratings upgraded Bridgewater Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, March 19th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.67.

Bridgewater Bancshares Stock Down 1.0%

BWB stock opened at $18.41 on Wednesday. Bridgewater Bancshares has a twelve month low of $13.08 and a twelve month high of $20.30. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $512.17 million, a P/E ratio of 10.40 and a beta of 0.61. The firm has a 50 day simple moving average of $18.22 and a 200-day simple moving average of $17.94.

Bridgewater Bancshares (NASDAQ:BWB) last released its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Bridgewater Bancshares had a return on equity of 11.26% and a net margin of 17.69%.The company had revenue of $38.96 million for the quarter, compared to analyst estimates of $36.93 million. On average, equities research analysts predict that Bridgewater Bancshares will post 1.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Bridgewater Bancshares

In other Bridgewater Bancshares news, Director Jeffrey D. Shellberg sold 9,838 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $18.89, for a total value of $185,839.82. Following the sale, the director directly owned 266,187 shares in the company, valued at approximately $5,028,272.43. This trade represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas P. Trutna sold 13,000 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $19.51, for a total value of $253,630.00. Following the completion of the sale, the director owned 82,634 shares in the company, valued at $1,612,189.34. The trade was a 13.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 27,550 shares of company stock worth $532,343. 23.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Bridgewater Bancshares

A number of hedge funds have recently added to or reduced their stakes in BWB. JPMorgan Chase & Co. increased its holdings in shares of Bridgewater Bancshares by 124.3% during the third quarter. JPMorgan Chase & Co. now owns 122,117 shares of the company’s stock valued at $2,149,000 after purchasing an additional 67,676 shares during the period. Hillsdale Investment Management Inc. acquired a new position in shares of Bridgewater Bancshares during the third quarter valued at $2,690,000. Daytona Street Capital LLC acquired a new position in shares of Bridgewater Bancshares during the fourth quarter valued at $1,514,000. Tectonic Advisors LLC acquired a new position in shares of Bridgewater Bancshares during the fourth quarter valued at $1,543,000. Finally, EJF Capital LLC increased its holdings in shares of Bridgewater Bancshares by 20.2% during the third quarter. EJF Capital LLC now owns 195,642 shares of the company’s stock valued at $3,443,000 after purchasing an additional 32,875 shares during the period. 65.83% of the stock is currently owned by institutional investors.

Bridgewater Bancshares Company Profile

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.