Bridgewater Bancshares (NASDAQ:BWB) Reaches New 12-Month High – What’s Next?

Bridgewater Bancshares, Inc. (NASDAQ:BWB)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $22.06 and last traded at $21.8990, with a volume of 267 shares traded. The stock had previously closed at $21.81.

Analyst Ratings Changes

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

Bridgewater Bancshares Stock Performance

The stock has a market cap of $615.52 million, a P/E ratio of 12.47 and a beta of 0.57. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.96. The stock has a 50 day simple moving average of $19.73 and a 200 day simple moving average of $18.84.

Bridgewater Bancshares (NASDAQ:BWB) last released its earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). Bridgewater Bancshares had a return on equity of 11.06% and a net margin of 17.69%.The company had revenue of $38.96 million for the quarter, compared to analyst estimates of $36.93 million. On average, equities analysts expect that Bridgewater Bancshares, Inc. will post 1.87 earnings per share for the current year.

Insider Activity

In other Bridgewater Bancshares news, CFO Joseph M. Chybowski sold 7,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $18.96, for a total transaction of $132,720.00. Following the sale, the chief financial officer directly owned 118,501 shares in the company, valued at $2,246,778.96. This represents a 5.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mary Jayne Crocker sold 6,525 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $18.50, for a total transaction of $120,712.50. Following the completion of the transaction, the director directly owned 209,502 shares in the company, valued at approximately $3,875,787. This represents a 3.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 62,375 shares of company stock valued at $1,161,104. Company insiders own 23.10% of the company’s stock.

Institutional Investors Weigh In On Bridgewater Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC acquired a new stake in shares of Bridgewater Bancshares in the 1st quarter valued at $263,000. Bank of America Corp DE raised its holdings in shares of Bridgewater Bancshares by 14.4% during the 1st quarter. Bank of America Corp DE now owns 20,759 shares of the company’s stock worth $367,000 after buying an additional 2,615 shares in the last quarter. Rhino Investment Partners Inc lifted its position in shares of Bridgewater Bancshares by 5.5% during the 1st quarter. Rhino Investment Partners Inc now owns 430,456 shares of the company’s stock worth $7,619,000 after buying an additional 22,502 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Bridgewater Bancshares by 79.8% during the 1st quarter. Empowered Funds LLC now owns 92,109 shares of the company’s stock worth $1,630,000 after buying an additional 40,890 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its stake in Bridgewater Bancshares by 27.3% in the first quarter. Quantinno Capital Management LP now owns 47,254 shares of the company’s stock valued at $836,000 after buying an additional 10,122 shares in the last quarter. 65.83% of the stock is currently owned by institutional investors.

About Bridgewater Bancshares

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.