Key Points
- Director Jeffrey Shellberg sold 8,174 shares of Bridgewater Bancshares at an average price of $18.45, totaling about $150,810. After the sale, he still owned 45,000 shares, reducing his stake by 15.37%.
- Bridgewater Bancshares recently reported quarterly earnings of $0.41 per share, missing analyst expectations by a penny, while revenue came in at $38.96 million, above estimates.
- Wall Street sentiment remains fairly positive, with the stock carrying a Moderate Buy rating and an average price target of $21.67, though analysts are split between Buy and Hold ratings.
Bridgewater Bancshares, Inc. (NASDAQ:BWB - Get Free Report) Director Jeffrey Shellberg sold 8,174 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $18.45, for a total transaction of $150,810.30. Following the transaction, the director owned 45,000 shares of the company's stock, valued at approximately $830,250. This represents a 15.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Bridgewater Bancshares Price Performance
Shares of NASDAQ:BWB opened at $18.52 on Friday. Bridgewater Bancshares, Inc. has a one year low of $14.35 and a one year high of $20.30. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $515.23 million, a price-to-earnings ratio of 10.46 and a beta of 0.58. The firm has a 50 day simple moving average of $18.10 and a 200 day simple moving average of $18.02.
Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last posted its earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). The company had revenue of $38.96 million for the quarter, compared to the consensus estimate of $36.93 million. Bridgewater Bancshares had a return on equity of 11.06% and a net margin of 17.69%. Research analysts predict that Bridgewater Bancshares, Inc. will post 1.85 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Bridgewater Bancshares
Hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets grew its stake in shares of Bridgewater Bancshares by 78.1% in the second quarter. BNP Paribas Financial Markets now owns 2,385 shares of the company's stock worth $38,000 after purchasing an additional 1,046 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Bridgewater Bancshares by 253.6% in the fourth quarter. State of Alaska Department of Revenue now owns 3,851 shares of the company's stock valued at $67,000 after purchasing an additional 2,762 shares during the period. CWM LLC raised its position in Bridgewater Bancshares by 118.0% during the 3rd quarter. CWM LLC now owns 5,369 shares of the company's stock worth $94,000 after purchasing an additional 2,906 shares during the last quarter. Palouse Capital Management Inc. acquired a new position in Bridgewater Bancshares during the 3rd quarter worth about $113,000. Finally, AQR Capital Management LLC acquired a new position in Bridgewater Bancshares during the 1st quarter worth about $178,000. Institutional investors and hedge funds own 65.83% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on BWB. Piper Sandler restated an "overweight" rating and set a $23.00 price objective (up from $21.00) on shares of Bridgewater Bancshares in a research report on Thursday, January 29th. DA Davidson reissued a "buy" rating and set a $22.00 price target on shares of Bridgewater Bancshares in a research note on Wednesday, April 22nd. Finally, Weiss Ratings upgraded Bridgewater Bancshares from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $21.67.
Check Out Our Latest Analysis on BWB
About Bridgewater Bancshares
(
Get Free Report)
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.
Further Reading
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