Bridgewater Bancshares (NASDAQ:BWB) Trading 2.4% Higher – Time to Buy?

Bridgewater Bancshares, Inc. (NASDAQ:BWB)’s share price rose 2.4% during mid-day trading on Monday . The stock traded as high as $17.77 and last traded at $17.34. Approximately 115,360 shares changed hands during trading, an increase of 69% from the average daily volume of 68,175 shares. The stock had previously closed at $16.94.

Analysts Set New Price Targets

BWB has been the subject of a number of analyst reports. Stephens started coverage on Bridgewater Bancshares in a report on Wednesday, December 10th. They set an “equal weight” rating and a $20.00 price objective for the company. Piper Sandler reiterated an “overweight” rating and set a $23.00 target price (up from $21.00) on shares of Bridgewater Bancshares in a research report on Thursday, January 29th. DA Davidson set a $24.00 price target on shares of Bridgewater Bancshares in a report on Thursday, January 29th. Finally, Weiss Ratings upgraded shares of Bridgewater Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, March 19th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $22.33.

Bridgewater Bancshares Price Performance

The stock has a fifty day moving average of $18.48 and a two-hundred day moving average of $17.74. 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 stock has a market capitalization of $486.57 million, a price-to-earnings ratio of 11.66 and a beta of 0.64.

Bridgewater Bancshares (NASDAQ:BWB) last posted its quarterly earnings data on Tuesday, January 27th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. Bridgewater Bancshares had a return on equity of 10.84% and a net margin of 15.74%.The company had revenue of $38.84 million for the quarter, compared to analyst estimates of $36.10 million. As a group, equities research analysts forecast that Bridgewater Bancshares, Inc. will post 1.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director James S. Johnson sold 4,712 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $19.71, for a total transaction of $92,873.52. Following the transaction, the director directly owned 95,348 shares in the company, valued at approximately $1,879,309.08. This represents a 4.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas P. Trutna sold 13,000 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $19.51, for a total transaction of $253,630.00. Following the sale, the director directly owned 82,634 shares in the company, valued at $1,612,189.34. This trade represents a 13.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 27,550 shares of company stock valued at $532,343 in the last 90 days. 23.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bridgewater Bancshares

Several large investors have recently bought and sold shares of the business. Villanova Investment Management Co LLC boosted its stake in Bridgewater Bancshares by 0.4% in the fourth quarter. Villanova Investment Management Co LLC now owns 187,423 shares of the company’s stock valued at $3,286,000 after acquiring an additional 770 shares during the last quarter. Empowered Funds LLC raised its position in shares of Bridgewater Bancshares by 123.3% during the 4th quarter. Empowered Funds LLC now owns 51,219 shares of the company’s stock valued at $898,000 after acquiring an additional 28,278 shares during the last quarter. Polymer Capital Management US LLC acquired a new position in shares of Bridgewater Bancshares in the 4th quarter valued at $226,000. Occudo Quantitative Strategies LP acquired a new position in shares of Bridgewater Bancshares in the 4th quarter valued at $230,000. Finally, Inspire Investing LLC boosted its position in shares of Bridgewater Bancshares by 2.1% in the 4th quarter. Inspire Investing LLC now owns 26,748 shares of the company’s stock worth $469,000 after purchasing an additional 544 shares during the last quarter. 65.83% of the stock is currently owned by institutional investors and hedge funds.

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.