Bridgewater Bancshares (NASDAQ:BWB) Hits New 12-Month High – Time to Buy?

Bridgewater Bancshares, Inc. (NASDAQ:BWB) reached a new 52-week high on Thursday . The stock traded as high as $20.25 and last traded at $19.8030, with a volume of 28224 shares trading hands. The stock had previously closed at $19.83.

Analyst Ratings Changes

Several equities analysts recently commented on BWB shares. Stephens initiated coverage on shares of Bridgewater Bancshares in a research note on Wednesday, December 10th. They set an “equal weight” rating and a $20.00 target price for the company. Piper Sandler reiterated an “overweight” rating and set a $23.00 target price (up previously from $21.00) on shares of Bridgewater Bancshares in a research report on Thursday, January 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Bridgewater Bancshares in a report on Wednesday, January 21st. Finally, DA Davidson set a $24.00 price objective on Bridgewater Bancshares in a report on Thursday, January 29th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $22.33.

Bridgewater Bancshares Stock Performance

The stock has a 50 day simple moving average of $18.27 and a 200 day simple moving average of $17.17. The stock has a market cap of $551.46 million, a P/E ratio of 13.33 and a beta of 0.65. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.19.

Bridgewater Bancshares (NASDAQ:BWB) last issued its earnings results on Tuesday, January 27th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. Bridgewater Bancshares had a net margin of 15.74% and a return on equity of 11.07%. The firm had revenue of $38.84 million for the quarter, compared to analyst estimates of $36.10 million. On average, equities analysts expect that Bridgewater Bancshares, Inc. will post 1.38 earnings per share for the current year.

Insider Buying and Selling

In other Bridgewater Bancshares news, CEO Jerry J. Baack sold 18,007 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $17.07, for a total transaction of $307,379.49. Following the sale, the chief executive officer owned 1,171,354 shares in the company, valued at $19,995,012.78. This represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Joseph M. Chybowski sold 6,780 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $17.99, for a total value of $121,972.20. Following the sale, the chief financial officer owned 104,560 shares in the company, valued at approximately $1,881,034.40. The trade was a 6.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 100,469 shares of company stock worth $1,762,779 over the last 90 days. Company insiders own 23.27% of the company’s stock.

Institutional Investors Weigh In On Bridgewater Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of BWB. AQR Capital Management LLC purchased a new stake in shares of Bridgewater Bancshares in the 1st quarter worth about $178,000. Empowered Funds LLC grew its holdings in shares of Bridgewater Bancshares by 10.1% in the first quarter. Empowered Funds LLC now owns 19,170 shares of the company’s stock worth $266,000 after acquiring an additional 1,752 shares during the period. Jane Street Group LLC purchased a new position in shares of Bridgewater Bancshares during the 1st quarter worth $357,000. Sippican Capital Advisors increased its holdings in Bridgewater Bancshares by 1.5% in the 2nd quarter. Sippican Capital Advisors now owns 97,610 shares of the company’s stock worth $1,553,000 after acquiring an additional 1,400 shares in the last quarter. Finally, CWM LLC boosted its holdings in Bridgewater Bancshares by 182.1% in the 2nd quarter. CWM LLC now owns 2,463 shares of the company’s stock worth $39,000 after buying an additional 1,590 shares during the period. 65.83% of the stock is currently owned by institutional investors.

Bridgewater Bancshares Company Profile

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.