Bridgewater Bancshares (NASDAQ:BWB) Announces Earnings Results

Bridgewater Bancshares (NASDAQ:BWB) announced its earnings results on Tuesday. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02, FiscalAI reports. Bridgewater Bancshares had a net margin of 19.27% and a return on equity of 11.66%. The business had revenue of $43.23 million during the quarter, compared to the consensus estimate of $43.20 million.

Bridgewater Bancshares Stock Performance

Shares of BWB opened at $20.13 on Thursday. The business’s fifty day simple moving average is $21.00 and its two-hundred day simple moving average is $20.21. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.90. Bridgewater Bancshares has a 12 month low of $16.06 and a 12 month high of $22.62. The company has a market cap of $561.22 million, a price-to-earnings ratio of 10.32 and a beta of 0.63.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BWB shares. Weiss Ratings restated a “buy (b+)” rating on shares of Bridgewater Bancshares in a research note on Monday, September 14th. Stephens upgraded shares of 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, 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 report on Thursday, July 23rd. Four investment analysts have rated the stock with a Buy rating. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $23.67.

Insiders Place Their Bets

In related news, Director Mary Crocker sold 11,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $21.04, for a total transaction of $231,440.00. Following the sale, the director directly owned 224,384 shares of the company’s stock, valued at $4,721,039.36. This trade represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jerry J. Baack sold 10,000 shares of Bridgewater Bancshares stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $22.48, for a total value of $224,800.00. Following the completion of the sale, the chief executive officer owned 1,123,769 shares of the company’s stock, valued at $25,262,327.12. The trade was a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 319,726 shares of company stock worth $6,800,586. 23.10% of the stock is owned by corporate insiders.

About Bridgewater Bancshares

Bridgewater Bancshares, Inc is the bank holding company for Bridgewater Bank, a community-focused commercial bank headquartered in St. Louis Park, Minnesota. Founded in 2005, the company serves businesses, real estate professionals, entrepreneurs and individuals primarily in the Minneapolis–St. Paul metropolitan area and surrounding markets.

Bridgewater Bank provides commercial and consumer banking products, including commercial real estate loans, commercial and industrial financing, residential real estate lending, construction and development loans, personal and business deposit accounts, cash-management services and online banking.