Bridgewater Bancshares Inc (NASDAQ:BWB) shares shot up 6.7% on Tuesday . The company traded as high as $8.99 and last traded at $8.87, 110,200 shares were traded during mid-day trading. An increase of 61% from the average session volume of 68,407 shares. The stock had previously closed at $8.31.
A number of research firms have weighed in on BWB. B. Riley reiterated a “buy” rating and issued a $16.00 price target on shares of Bridgewater Bancshares in a research report on Friday, January 24th. Zacks Investment Research lowered shares of Bridgewater Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, March 17th. Finally, ValuEngine lowered shares of Bridgewater Bancshares from a “sell” rating to a “strong sell” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $15.50.
The firm has a market capitalization of $240.77 million, a P/E ratio of 8.62 and a beta of 0.94. The stock’s 50-day simple moving average is $11.98 and its two-hundred day simple moving average is $12.52. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 1.05.
Bridgewater Bancshares (NASDAQ:BWB) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.03. The business had revenue of $21.04 million during the quarter, compared to analyst estimates of $20.06 million. Bridgewater Bancshares had a net margin of 29.18% and a return on equity of 13.34%. On average, analysts forecast that Bridgewater Bancshares Inc will post 1.08 earnings per share for the current fiscal year.
In related news, CEO Jerry J. Baack bought 5,000 shares of the stock in a transaction dated Monday, March 16th. The shares were purchased at an average price of $10.07 per share, with a total value of $50,350.00. 18.54% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC lifted its holdings in shares of Bridgewater Bancshares by 44.1% in the fourth quarter. Nuveen Asset Management LLC now owns 107,267 shares of the company’s stock worth $1,478,000 after buying an additional 32,804 shares in the last quarter. John W. Rosenthal Capital Management Inc. lifted its holdings in shares of Bridgewater Bancshares by 287.9% in the fourth quarter. John W. Rosenthal Capital Management Inc. now owns 135,364 shares of the company’s stock worth $1,865,000 after buying an additional 100,464 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Bridgewater Bancshares by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 283,398 shares of the company’s stock worth $3,905,000 after buying an additional 8,461 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its holdings in shares of Bridgewater Bancshares by 7.3% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 371,200 shares of the company’s stock worth $5,115,000 after buying an additional 25,127 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Bridgewater Bancshares in the fourth quarter worth $589,000. 46.86% of the stock is currently owned by hedge funds and other institutional investors.
About Bridgewater Bancshares (NASDAQ:BWB)
Bridgewater Bancshares, Inc operates as the bank holding company for Bridgewater Bank that provides banking products and services to commercial real estate investors, small business entrepreneurs, and high-net-worth individuals in the United States. It offers demand, savings and money market, time, interest and noninterest bearing transaction, and brokered deposits, as well as certificates of deposit.
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