Bridgewater Bancshares (NASDAQ:BWB) Receives Overweight Rating from Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Bridgewater Bancshares (NASDAQ:BWB) in a research report sent to investors on Friday morning, Benzinga reports. Piper Sandler currently has a $14.00 price objective on the stock, down from their previous price objective of $14.50.

Several other research analysts also recently weighed in on BWB. Hovde Group started coverage on shares of Bridgewater Bancshares in a research note on Monday, March 4th. They issued an outperform rating for the company. TheStreet downgraded Bridgewater Bancshares from a b- rating to a c+ rating in a research note on Monday, March 11th. Finally, DA Davidson boosted their price target on Bridgewater Bancshares from $15.00 to $16.00 and gave the stock a buy rating in a research note on Friday, January 26th.

Bridgewater Bancshares Stock Performance

Shares of NASDAQ:BWB opened at $11.78 on Friday. The business’s 50-day simple moving average is $11.60 and its 200 day simple moving average is $11.51. The company has a market cap of $326.42 million, a P/E ratio of 10.42 and a beta of 0.65. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.03 and a current ratio of 1.03. Bridgewater Bancshares has a one year low of $7.90 and a one year high of $14.43.

Insider Buying and Selling at Bridgewater Bancshares

In related news, Director James S. Johnson sold 12,590 shares of Bridgewater Bancshares stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $11.62, for a total value of $146,295.80. Following the completion of the transaction, the director now directly owns 94,063 shares in the company, valued at $1,093,012.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BWB. FMR LLC boosted its stake in Bridgewater Bancshares by 16.7% during the 3rd quarter. FMR LLC now owns 1,647,159 shares of the company’s stock valued at $15,615,000 after purchasing an additional 236,281 shares during the period. Strs Ohio lifted its stake in shares of Bridgewater Bancshares by 212.4% in the 3rd quarter. Strs Ohio now owns 32,800 shares of the company’s stock worth $310,000 after acquiring an additional 22,300 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Bridgewater Bancshares by 300.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,861 shares of the company’s stock valued at $79,000 after acquiring an additional 4,396 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Bridgewater Bancshares during the fourth quarter valued at approximately $157,000. Finally, Banc Funds Co. LLC raised its holdings in Bridgewater Bancshares by 196.3% during the fourth quarter. Banc Funds Co. LLC now owns 186,704 shares of the company’s stock worth $2,524,000 after purchasing an additional 123,695 shares in the last quarter. 65.83% of the stock is owned by institutional investors and hedge funds.

Bridgewater Bancshares Company Profile

Bridgewater Bancshares, Inc operates as the bank holding company for Bridgewater Bank that provides banking products and services to commercial real estate investors, entrepreneurs, business clients, and individuals in the United States. The company provides savings and money market accounts, demand deposits, time and brokered deposits, and interest and noninterest bearing transaction, as well as certificates of deposit.