Bridgewater Bancshares (NASDAQ:BWB) Posts Earnings Results, Hits Estimates

Bridgewater Bancshares (NASDAQ:BWB) released its earnings results on Tuesday. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45, FiscalAI reports. Bridgewater Bancshares had a return on equity of 11.42% and a net margin of 18.38%.The company had revenue of $40.89 million during the quarter, compared to analysts’ expectations of $41.43 million.

Bridgewater Bancshares Stock Performance

Shares of BWB opened at $20.73 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.96. The stock has a market cap of $577.95 million, a P/E ratio of 11.27 and a beta of 0.57. The business’s 50 day moving average price is $20.09 and its 200-day moving average price is $18.98. Bridgewater Bancshares has a 52 week low of $14.90 and a 52 week high of $22.59.

Insider Buying and Selling at Bridgewater Bancshares

In other Bridgewater Bancshares news, insider Nicholas L. Place sold 4,688 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $19.27, for a total value of $90,337.76. Following the sale, the insider directly owned 139,622 shares of the company’s stock, valued at approximately $2,690,515.94. The trade was a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mary Jayne Crocker sold 6,525 shares of Bridgewater Bancshares stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $18.50, for a total value of $120,712.50. Following the completion of the transaction, the director directly owned 209,502 shares of the company’s stock, valued at approximately $3,875,787. This represents a 3.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 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

Institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC lifted its position in Bridgewater Bancshares by 123.3% in 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 in the last quarter. Polymer Capital Management US LLC purchased a new position in shares of Bridgewater Bancshares in the fourth quarter worth $226,000. Occudo Quantitative Strategies LP bought a new position in shares of Bridgewater Bancshares during the fourth quarter valued at $230,000. Inspire Investing LLC boosted its position in shares of Bridgewater Bancshares by 2.1% during the fourth quarter. Inspire Investing LLC now owns 26,748 shares of the company’s stock valued at $469,000 after buying an additional 544 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its position in shares of Bridgewater Bancshares by 35.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 108,719 shares of the company’s stock valued at $1,906,000 after buying an additional 28,278 shares during the last quarter. Institutional investors own 65.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BWB shares. DA Davidson reiterated a “buy” rating and issued a $22.00 price objective on shares of Bridgewater Bancshares in a report on Wednesday, April 22nd. Weiss Ratings upgraded shares of Bridgewater Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, June 18th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.67.

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.