Bridgewater Bancshares (NASDAQ:BWB) Sets New 12-Month High – Time to Buy?

Shares of Bridgewater Bancshares, Inc. (NASDAQ:BWB) hit a new 52-week high during trading on Monday . The company traded as high as $21.01 and last traded at $20.67, with a volume of 1013815 shares changing hands. The stock had previously closed at $20.84.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Weiss Ratings raised shares of Bridgewater Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, June 18th. DA Davidson reissued a “buy” rating and issued a $22.00 target price on shares of Bridgewater Bancshares in a report on Wednesday, April 22nd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.67.

Bridgewater Bancshares Price Performance

The company has a debt-to-equity ratio of 0.96, a current ratio of 1.06 and a quick ratio of 1.06. The business’s 50 day moving average price is $18.99 and its 200 day moving average price is $18.57. The stock has a market capitalization of $577.51 million, a P/E ratio of 11.72 and a beta of 0.58.

Bridgewater Bancshares (NASDAQ:BWB) last issued its quarterly earnings data 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 net margin of 17.69% and a return on equity of 11.06%. The company had revenue of $38.96 million for the quarter, compared to the consensus estimate of $36.93 million. Sell-side analysts forecast that Bridgewater Bancshares, Inc. will post 1.85 EPS for the current year.

Insider Transactions at Bridgewater Bancshares

In other news, insider Nicholas L. Place sold 4,688 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $19.27, for a total value of $90,337.76. Following the sale, the insider directly owned 139,622 shares in the company, valued at $2,690,515.94. The trade was a 3.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Joseph M. Chybowski sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $18.96, for a total value of $132,720.00. Following the transaction, the chief financial officer owned 118,501 shares of the company’s stock, valued at $2,246,778.96. This trade represents a 5.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 62,375 shares of company stock valued at $1,161,104. 23.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Bridgewater Bancshares

Several hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC purchased a new stake in Bridgewater Bancshares in the first quarter worth $263,000. Bank of America Corp DE increased its position in shares of Bridgewater Bancshares by 14.4% during the first quarter. Bank of America Corp DE now owns 20,759 shares of the company’s stock worth $367,000 after acquiring an additional 2,615 shares during the period. Rhino Investment Partners Inc grew its stake in Bridgewater Bancshares by 5.5% in the first quarter. Rhino Investment Partners Inc now owns 430,456 shares of the company’s stock worth $7,619,000 after purchasing an additional 22,502 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Bridgewater Bancshares by 79.8% during the first quarter. Empowered Funds LLC now owns 92,109 shares of the company’s stock valued at $1,630,000 after buying an additional 40,890 shares during the last quarter. Finally, Quantinno Capital Management LP raised its stake in shares of Bridgewater Bancshares by 27.3% during the 1st quarter. Quantinno Capital Management LP now owns 47,254 shares of the company’s stock worth $836,000 after acquiring an additional 10,122 shares in the last quarter. Institutional investors own 65.83% of the company’s stock.

About Bridgewater Bancshares

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.