Bridgewater Bancshares (NASDAQ:BWB) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Bridgewater Bancshares (NASDAQ:BWB) issued its earnings results on Tuesday. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02, Zacks reports. The business had revenue of $38.84 million during the quarter, compared to analysts’ expectations of $36.10 million. Bridgewater Bancshares had a return on equity of 11.07% and a net margin of 15.74%.

Bridgewater Bancshares Stock Performance

BWB stock opened at $18.77 on Thursday. The stock’s 50 day simple moving average is $18.03 and its 200 day simple moving average is $17.06. Bridgewater Bancshares has a 12-month low of $11.93 and a 12-month high of $19.40. The firm has a market cap of $517.68 million, a P/E ratio of 14.11 and a beta of 0.64. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.19.

Insider Activity at Bridgewater Bancshares

In other Bridgewater Bancshares news, COO Lisa M. Salazar sold 2,175 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $16.72, for a total value of $36,366.00. Following the transaction, the chief operating officer owned 32,091 shares of the company’s stock, valued at $536,561.52. This trade represents a 6.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Joseph M. Chybowski sold 5,211 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $18.05, for a total value of $94,058.55. Following the transaction, the chief financial officer owned 105,349 shares of the company’s stock, valued at $1,901,549.45. This represents a 4.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 118,482 shares of company stock valued at $2,061,855 in the last ninety days. 23.27% of the stock is owned by insiders.

Institutional Investors Weigh In On Bridgewater Bancshares

A number of institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its position in shares of Bridgewater Bancshares by 78.1% in the second quarter. BNP Paribas Financial Markets now owns 2,385 shares of the company’s stock worth $38,000 after buying an additional 1,046 shares during the period. AQR Capital Management LLC acquired a new position in Bridgewater Bancshares in the first quarter worth approximately $178,000. Brevan Howard Capital Management LP acquired a new position in shares of Bridgewater Bancshares during the 3rd quarter worth $232,000. Quantinno Capital Management LP acquired a new stake in shares of Bridgewater Bancshares in the second quarter worth about $259,000. Finally, First Trust Advisors LP boosted its stake in shares of Bridgewater Bancshares by 6.3% during the 2nd quarter. First Trust Advisors LP now owns 17,826 shares of the company’s stock worth $284,000 after acquiring an additional 1,050 shares in the last quarter. 65.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BWB. Stephens initiated coverage on shares of Bridgewater Bancshares in a report on Wednesday, December 10th. They set an “equal weight” rating and a $20.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bridgewater Bancshares in a research report on Wednesday, January 21st. Piper Sandler reaffirmed an “overweight” rating on shares of Bridgewater Bancshares in a research report on Thursday. Finally, DA Davidson reaffirmed a “buy” rating and set a $23.00 price target on shares of Bridgewater Bancshares in a report on Wednesday. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Bridgewater Bancshares currently has an average rating of “Hold” and a consensus price target of $21.00.

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.