Key Points
- CEO Jerry Baack sold 20,000 shares at an average of $20.25, for $405,000. He directly owned 1,157,769 shares after the sale, a 1.7% reduction in his holdings.
- Bridgewater reported quarterly earnings of $0.49 per share, beating the $0.47 analyst estimate; revenue of $43.23 million was also slightly above expectations.
- Analysts maintain a consensus Buy rating, with an average price target of $23.67. Piper Sandler and Stephens recently raised their ratings or price targets.
Bridgewater Bancshares, Inc. (NASDAQ:BWB - Get Free Report) CFO Joseph Chybowski sold 9,651 shares of the company's stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $20.43, for a total transaction of $197,169.93. Following the transaction, the chief financial officer owned 108,850 shares in the company, valued at approximately $2,223,805.50. The trade was a 8.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Bridgewater Bancshares Stock Up 2.1%
Shares of NASDAQ:BWB opened at $20.74 on Thursday. Bridgewater Bancshares, Inc. has a one year low of $16.06 and a one year high of $22.62. The company has a 50 day moving average of $20.73 and a 200-day moving average of $19.75. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market cap of $578.23 million, a price-to-earnings ratio of 10.64 and a beta of 0.63.
Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.02. Bridgewater Bancshares had a net margin of 19.27% and a return on equity of 11.60%. The business had revenue of $43.23 million during the quarter, compared to the consensus estimate of $43.20 million. On average, sell-side analysts forecast that Bridgewater Bancshares, Inc. will post 1.83 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on BWB shares. Piper Sandler increased their price target on Bridgewater Bancshares from $23.00 to $24.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Stephens raised Bridgewater Bancshares from an "equal weight" rating to an "overweight" rating and set a $25.00 price objective for the company in a research note on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a "buy (b+)" rating on shares of Bridgewater Bancshares in a research note on Monday, September 14th. Four research analysts have rated the stock with a Buy rating. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $23.67.
Read Our Latest Report on BWB
Institutional Trading of Bridgewater Bancshares
Hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. bought a new position in Bridgewater Bancshares during the 2nd quarter worth approximately $32,000. Legal & General Group Plc acquired a new position in Bridgewater Bancshares during the second quarter valued at approximately $45,000. NewEdge Advisors LLC bought a new stake in Bridgewater Bancshares in the first quarter valued at approximately $263,000. Cetera Investment Advisers increased its stake in Bridgewater Bancshares by 6.5% in the first quarter. Cetera Investment Advisers now owns 17,235 shares of the company's stock valued at $305,000 after purchasing an additional 1,059 shares in the last quarter. Finally, Ieq Capital LLC bought a new stake in Bridgewater Bancshares in the second quarter valued at approximately $369,000. 65.83% of the stock is currently owned by institutional investors and hedge funds.
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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