Bridgewater Bancshares (NASDAQ:BWB) Issues Earnings Results, Misses Expectations By $0.01 EPS

Bridgewater Bancshares (NASDAQ:BWB) announced its quarterly earnings data on Tuesday. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01), FiscalAI reports. Bridgewater Bancshares had a net margin of 17.69% and a return on equity of 11.06%. The business had revenue of $40.89 million during the quarter, compared to analysts’ expectations of $41.43 million.

Bridgewater Bancshares Price Performance

BWB stock traded down $0.06 during trading on Tuesday, reaching $21.89. 149,631 shares of the company were exchanged, compared to its average volume of 110,041. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.06 and a current ratio of 1.06. The stock’s 50 day moving average price is $19.96 and its 200 day moving average price is $18.93. Bridgewater Bancshares has a 52-week low of $14.90 and a 52-week high of $22.59. The company has a market cap of $610.29 million, a P/E ratio of 12.37 and a beta of 0.57.

Wall Street Analysts Forecast Growth

BWB has been the subject of a number of analyst reports. Weiss Ratings raised Bridgewater Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, June 18th. DA Davidson reaffirmed a “buy” rating and set a $22.00 price objective on shares of Bridgewater Bancshares in a report on Wednesday, April 22nd. Three analysts have rated the stock with a Buy rating and two have given 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 target price of $21.67.

Insider Buying and Selling

In related news, CFO Joseph M. Chybowski sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $18.96, for a total value of $132,720.00. Following the sale, the chief financial officer owned 118,501 shares in the company, valued at $2,246,778.96. This represents a 5.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey D. Shellberg sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $18.55, for a total value of $371,000.00. Following the completion of the transaction, the director directly owned 25,000 shares of the company’s stock, valued at $463,750. The trade was a 44.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 62,375 shares of company stock valued at $1,161,104 in the last 90 days. 23.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Empowered Funds LLC boosted its position in shares of Bridgewater Bancshares by 123.3% in the 4th quarter. Empowered Funds LLC now owns 51,219 shares of the company’s stock worth $898,000 after buying an additional 28,278 shares in the last quarter. Polymer Capital Management US LLC purchased a new position in Bridgewater Bancshares during the 4th quarter valued at about $226,000. Occudo Quantitative Strategies LP acquired a new position in Bridgewater Bancshares during the fourth quarter worth about $230,000. Inspire Investing LLC raised its position in Bridgewater Bancshares by 2.1% during the fourth quarter. Inspire Investing LLC now owns 26,748 shares of the company’s stock worth $469,000 after acquiring an additional 544 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of Bridgewater Bancshares by 35.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 108,719 shares of the company’s stock valued at $1,906,000 after purchasing an additional 28,278 shares in the last quarter. Hedge funds and other institutional investors own 65.83% of the company’s stock.

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.