Bridgewater Bancshares (NASDAQ:BWB) Announces Quarterly Earnings Results

Bridgewater Bancshares (NASDAQ:BWB) released its earnings results on Tuesday. The company reported $0.45 EPS for the quarter, meeting the consensus estimate of $0.45, FiscalAI reports. The firm had revenue of $40.89 million for the quarter, compared to analyst estimates of $41.43 million. Bridgewater Bancshares had a net margin of 17.69% and a return on equity of 11.06%.

Bridgewater Bancshares Stock Down 0.3%

BWB stock opened at $21.89 on Wednesday. The stock has a market capitalization of $610.36 million, a P/E ratio of 12.37 and a beta of 0.57. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.96. Bridgewater Bancshares has a 12 month low of $14.90 and a 12 month high of $22.59. The firm has a 50-day moving average price of $20.03 and a 200-day moving average price of $18.96.

Insider Buying and Selling

In related news, insider Nicholas L. Place sold 4,688 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $19.27, for a total transaction of $90,337.76. Following the completion of the transaction, the insider directly owned 139,622 shares in the company, valued at $2,690,515.94. This represents a 3.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey D. Shellberg sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $18.55, for a total transaction of $371,000.00. Following the completion of the transaction, the director directly owned 25,000 shares of the company’s stock, valued at approximately $463,750. The trade was a 44.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 62,375 shares of company stock worth $1,161,104 in the last quarter. Corporate insiders own 23.10% of the company’s stock.

Institutional Trading of Bridgewater Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its holdings in shares of Bridgewater Bancshares by 78.1% during the second quarter. BNP Paribas Financial Markets now owns 2,385 shares of the company’s stock worth $38,000 after buying an additional 1,046 shares in the last quarter. AQR Capital Management LLC bought a new stake in Bridgewater Bancshares during the 1st quarter worth $178,000. LPL Financial LLC grew its position in Bridgewater Bancshares by 7.8% during the 4th quarter. LPL Financial LLC now owns 11,770 shares of the company’s stock worth $206,000 after acquiring an additional 855 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Bridgewater Bancshares by 14.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,419 shares of the company’s stock worth $218,000 after acquiring an additional 1,535 shares during the last quarter. Finally, Polymer Capital Management US LLC acquired a new position in Bridgewater Bancshares in the 4th quarter worth about $226,000. Institutional investors own 65.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Weiss Ratings upgraded 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 set a $22.00 target price on shares of Bridgewater Bancshares in a research note on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $21.67.

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.