Key Points
- Director Todd Urness sold 10,000 Bridgewater Bancshares shares at an average price of $20.34, generating $203,400. His remaining direct ownership totaled 856,722 shares, a 1.15% reduction.
- Bridgewater Bancshares recently exceeded earnings expectations, reporting $0.49 in quarterly EPS versus the $0.47 consensus estimate and $43.23 million in revenue.
- Analysts maintain a consensus “Buy” rating with a $23.67 price target, while institutional investors own 65.83% of the company after several hedge funds established new positions.
Bridgewater Bancshares, Inc. (NASDAQ:BWB - Get Free Report) Director Todd Urness sold 10,000 shares of the company's stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $20.34, for a total value of $203,400.00. Following the transaction, the director directly owned 856,722 shares of the company's stock, valued at $17,425,725.48. This represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Bridgewater Bancshares Stock Down 0.6%
NASDAQ:BWB opened at $20.21 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $563.54 million, a PE ratio of 10.36 and a beta of 0.63. Bridgewater Bancshares, Inc. has a 52-week low of $16.06 and a 52-week high of $22.62. The stock has a 50-day simple moving average of $20.79 and a 200 day simple moving average of $19.71.
Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last released its earnings results on Tuesday, October 20th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. The firm had revenue of $43.23 million for the quarter, compared to analysts' expectations of $43.20 million. Bridgewater Bancshares had a return on equity of 11.66% and a net margin of 19.27%. On average, sell-side analysts expect that Bridgewater Bancshares, Inc. will post 1.83 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Weiss Ratings reiterated a "buy (b+)" rating on shares of Bridgewater Bancshares in a report on Monday, September 14th. Stephens upgraded shares of Bridgewater Bancshares from an "equal weight" rating to an "overweight" rating and set a $25.00 target price for the company in a report on Thursday, August 6th. Finally, Piper Sandler raised their target price on shares of Bridgewater Bancshares from $23.00 to $24.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Four investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $23.67.
Check Out Our Latest Stock Analysis on BWB
Hedge Funds Weigh In On Bridgewater Bancshares
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Bridgewater Bancshares in the second quarter valued at about $37,145,000. Punch & Associates Investment Management Inc. acquired a new position in Bridgewater Bancshares during the second quarter valued at approximately $9,145,000. Ancora Advisors LLC acquired a new position in Bridgewater Bancshares during the second quarter valued at approximately $5,020,000. Algert Global LLC acquired a new position in Bridgewater Bancshares during the second quarter valued at approximately $3,572,000. Finally, Empowered Funds LLC acquired a new position in shares of Bridgewater Bancshares during the 2nd quarter worth approximately $2,086,000. Institutional investors own 65.83% of the company's stock.
Bridgewater Bancshares Company Profile
(
Get Free Report)
Bridgewater Bancshares, Inc is the bank holding company for Bridgewater Bank, a full-service commercial bank headquartered in St. Louis Park, Minnesota. The company focuses on serving businesses, commercial real estate investors, developers, professional organizations and affluent individuals, primarily in Minnesota and surrounding markets.
Bridgewater Bank provides commercial and residential real estate lending, construction and development financing, commercial and industrial loans, small-business lending, treasury management and deposit services.
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