Bridgewater Bancshares (NASDAQ:BWB) Sets New 52-Week High – What’s Next?

Bridgewater Bancshares, Inc. (NASDAQ:BWB)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $21.84 and last traded at $21.4160, with a volume of 163439 shares changing hands. The stock had previously closed at $21.46.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BWB shares. Weiss Ratings raised shares of Bridgewater Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, June 18th. DA Davidson restated a “buy” rating and issued a $22.00 price objective on shares of Bridgewater Bancshares in a research report on Wednesday, April 22nd. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, 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 quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $591.06 million, a price-to-earnings ratio of 12.02 and a beta of 0.57. The business’s 50 day simple moving average is $19.24 and its 200-day simple moving average is $18.67.

Bridgewater Bancshares (NASDAQ:BWB) last issued 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). The firm had revenue of $38.96 million for the quarter, compared to the consensus estimate of $36.93 million. Bridgewater Bancshares had a return on equity of 11.06% and a net margin of 17.69%. On average, research analysts forecast that Bridgewater Bancshares, Inc. will post 1.85 earnings per share for the current year.

Insider Activity

In related news, CFO Joseph M. Chybowski sold 7,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $18.96, for a total value of $132,720.00. Following the sale, the chief financial officer directly owned 118,501 shares of the company’s stock, valued at $2,246,778.96. This trade represents a 5.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey D. Shellberg sold 20,000 shares of Bridgewater Bancshares stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $18.55, for a total value of $371,000.00. Following the completion of the transaction, the director owned 25,000 shares in the company, valued at approximately $463,750. This represents a 44.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 62,375 shares of company stock valued at $1,161,104. Corporate insiders own 23.10% of the company’s stock.

Institutional Investors Weigh In On Bridgewater Bancshares

A number of hedge funds have recently made changes to their positions in BWB. AQR Capital Management LLC acquired a new stake in Bridgewater Bancshares in the first quarter valued at approximately $178,000. Empowered Funds LLC lifted its stake in shares of Bridgewater Bancshares by 10.1% in the 1st quarter. Empowered Funds LLC now owns 19,170 shares of the company’s stock valued at $266,000 after acquiring an additional 1,752 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Bridgewater Bancshares in the 1st quarter valued at $357,000. Rhumbline Advisers boosted its holdings in shares of Bridgewater Bancshares by 21.3% during the 2nd quarter. Rhumbline Advisers now owns 35,416 shares of the company’s stock valued at $563,000 after acquiring an additional 6,230 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Bridgewater Bancshares by 87.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 217,530 shares of the company’s stock valued at $3,461,000 after acquiring an additional 101,628 shares in the last quarter. 65.83% of the stock is currently owned by institutional investors and hedge funds.

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.