Bridgewater Bancshares (NASDAQ:BWB) Shares Gap Down – What’s Next?

Bridgewater Bancshares, Inc. (NASDAQ:BWB) gapped down prior to trading on Wednesday . The stock had previously closed at $21.89, but opened at $20.77. Bridgewater Bancshares shares last traded at $20.6360, with a volume of 42,637 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BWB shares. Weiss Ratings upgraded shares of Bridgewater Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, June 18th. DA Davidson reissued a “buy” rating and set a $22.00 price target on shares of Bridgewater Bancshares in a report on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.67.

Bridgewater Bancshares Stock Down 6.2%

The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.96. The company has a 50 day simple moving average of $20.03 and a two-hundred day simple moving average of $18.96. The firm has a market capitalization of $572.30 million, a P/E ratio of 11.60 and a beta of 0.57.

Bridgewater Bancshares (NASDAQ:BWB) last released its quarterly earnings data on Tuesday, July 21st. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. Bridgewater Bancshares had a net margin of 17.69% and a return on equity of 11.06%. The firm had revenue of $40.89 million for the quarter, compared to analysts’ expectations of $41.43 million. On average, equities analysts predict that Bridgewater Bancshares, Inc. will post 1.87 EPS for the current fiscal year.

Insider Activity at Bridgewater Bancshares

In other Bridgewater Bancshares news, Director Mary Jayne Crocker sold 6,525 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $18.50, for a total value of $120,712.50. Following the sale, the director owned 209,502 shares in the company, valued at $3,875,787. The trade was a 3.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Lisa M. Salazar sold 4,162 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $18.55, for a total transaction of $77,205.10. Following the transaction, the chief operating officer directly owned 36,077 shares of the company’s stock, valued at $669,228.35. This trade represents a 10.34% 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 valued at $1,161,104 in the last ninety days. Corporate insiders own 23.10% of the company’s stock.

Institutional Investors Weigh In On Bridgewater Bancshares

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in Bridgewater Bancshares by 124.3% during the third quarter. JPMorgan Chase & Co. now owns 122,117 shares of the company’s stock valued at $2,149,000 after buying an additional 67,676 shares during the last quarter. Bleakley Financial Group LLC bought a new stake in Bridgewater Bancshares in the 1st quarter worth approximately $1,535,000. Daytona Street Capital LLC purchased a new stake in shares of Bridgewater Bancshares during the 4th quarter worth approximately $1,514,000. Hillsdale Investment Management Inc. raised its holdings in shares of Bridgewater Bancshares by 39.3% during the 4th quarter. Hillsdale Investment Management Inc. now owns 212,860 shares of the company’s stock worth $3,731,000 after acquiring an additional 60,000 shares in the last quarter. Finally, Tectonic Advisors LLC bought a new position in shares of Bridgewater Bancshares during the 4th quarter valued at approximately $1,543,000. 65.83% of the stock is currently owned by hedge funds and other institutional investors.

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.