DA Davidson Reaffirms “Buy” Rating for Bridgewater Bancshares (NASDAQ:BWB)

Bridgewater Bancshares (NASDAQ:BWB)‘s stock had its “buy” rating reiterated by investment analysts at DA Davidson in a note issued to investors on Wednesday,Benzinga reports. They presently have a $23.00 price target on the stock. DA Davidson’s price objective would suggest a potential upside of 23.99% from the company’s current price.

A number of other brokerages also recently issued reports on BWB. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bridgewater Bancshares in a research report on Wednesday, January 21st. Stephens assumed coverage on 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. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $21.00.

Bridgewater Bancshares Stock Performance

Shares of NASDAQ BWB traded up $0.09 during midday trading on Wednesday, reaching $18.55. 45,074 shares of the stock were exchanged, compared to its average volume of 84,242. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.19. The firm has a 50-day simple moving average of $17.98 and a two-hundred day simple moving average of $17.04. Bridgewater Bancshares has a twelve month low of $11.93 and a twelve month high of $19.40. The firm has a market cap of $511.70 million, a price-to-earnings ratio of 13.95 and a beta of 0.64.

Bridgewater Bancshares (NASDAQ:BWB) last released its quarterly earnings data 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. The company had revenue of $38.84 million during the quarter, compared to analysts’ expectations of $36.10 million. Bridgewater Bancshares had a net margin of 14.52% and a return on equity of 10.27%. As a group, analysts anticipate that Bridgewater Bancshares will post 1.38 EPS for the current fiscal year.

Insider Transactions at Bridgewater Bancshares

In related news, Director Jeffrey D. Shellberg sold 21,936 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $17.78, for a total transaction of $390,022.08. Following the completion of the sale, the director owned 277,924 shares of the company’s stock, valued at approximately $4,941,488.72. This represents a 7.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mary Jayne Crocker sold 8,957 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $16.75, for a total transaction of $150,029.75. Following the completion of the sale, the executive vice president owned 203,105 shares of the company’s stock, valued at approximately $3,402,008.75. The trade was a 4.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 118,482 shares of company stock valued at $2,061,855 in the last 90 days. 23.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bridgewater Bancshares

Institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. lifted its holdings in shares of Bridgewater Bancshares by 181.8% in the 3rd quarter. Alliancebernstein L.P. now owns 1,282,210 shares of the company’s stock worth $22,567,000 after acquiring an additional 827,141 shares during the last quarter. Vanguard Group Inc. lifted its stake in Bridgewater Bancshares by 2.3% during the third quarter. Vanguard Group Inc. now owns 1,154,890 shares of the company’s stock worth $20,326,000 after purchasing an additional 25,566 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Bridgewater Bancshares by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 993,523 shares of the company’s stock worth $17,485,000 after buying an additional 21,969 shares during the period. Geode Capital Management LLC grew its stake in shares of Bridgewater Bancshares by 3.7% in the second quarter. Geode Capital Management LLC now owns 466,941 shares of the company’s stock valued at $7,431,000 after buying an additional 16,578 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Bridgewater Bancshares by 13.8% in the 2nd quarter. American Century Companies Inc. now owns 439,255 shares of the company’s stock valued at $6,989,000 after buying an additional 53,258 shares during the period. Hedge funds and other institutional investors own 65.83% of the company’s stock.

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.