Key Points
- Director Jeffrey Shellberg sold 40,000 Bridgewater Bancshares shares at an average price of $21.26, generating $850,400. His direct ownership fell 37.67% to 66,187 shares.
- Bridgewater Bancshares reported quarterly EPS of $0.45, matching analyst estimates, while revenue of $40.89 million came in below the $41.43 million consensus. The stock opened at $21.46 and has traded between $15.35 and $22.59 over the past year.
- Analyst sentiment remains favorable, with four Buy ratings and one Hold rating, an average target price of $23.67, and recent upgrades from Piper Sandler and Stephens. Institutional investors own 65.83% of the company.
Bridgewater Bancshares, Inc. (NASDAQ:BWB - Get Free Report) Director Jeffrey Shellberg sold 40,000 shares of the firm's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $21.26, for a total value of $850,400.00. Following the transaction, the director directly owned 66,187 shares in the company, valued at approximately $1,407,135.62. This represents a 37.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Bridgewater Bancshares Stock Performance
NASDAQ:BWB opened at $21.46 on Tuesday. The company has a market capitalization of $598.30 million, a price-to-earnings ratio of 11.66 and a beta of 0.57. The business has a 50 day moving average of $20.68 and a 200 day moving average of $19.25. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.05 and a quick ratio of 1.05. Bridgewater Bancshares, Inc. has a 1-year low of $15.35 and a 1-year high of $22.59.
Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. The firm had revenue of $40.89 million for the quarter, compared to the consensus estimate of $41.43 million. Bridgewater Bancshares had a net margin of 18.38% and a return on equity of 11.21%. On average, sell-side analysts predict that Bridgewater Bancshares, Inc. will post 1.85 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Bridgewater Bancshares
Large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Bridgewater Bancshares during the second quarter valued at approximately $37,145,000. Deutsche Bank AG bought a new stake in Bridgewater Bancshares in the second quarter valued at $447,000. Bank of New York Mellon Corp bought a new stake in Bridgewater Bancshares in the second quarter valued at $1,329,000. NewEdge Advisors LLC purchased a new position in Bridgewater Bancshares during the 1st quarter valued at $263,000. Finally, Bank of America Corp DE raised its holdings in Bridgewater Bancshares by 14.4% in the 1st quarter. Bank of America Corp DE now owns 20,759 shares of the company's stock worth $367,000 after purchasing an additional 2,615 shares in the last quarter. 65.83% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the stock. Piper Sandler lifted their target price on shares of Bridgewater Bancshares from $23.00 to $24.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. DA Davidson restated a "buy" rating and set a $22.00 price target on shares of Bridgewater Bancshares in a research report on Wednesday, April 22nd. Weiss Ratings raised Bridgewater Bancshares from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, June 18th. Finally, Stephens upgraded Bridgewater Bancshares from an "equal weight" rating to an "overweight" rating and set a $25.00 price objective on the stock in a report on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Bridgewater Bancshares has an average rating of "Moderate Buy" and an average target price of $23.67.
View 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.
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