Bridgewater Bancshares' (BWB) "Buy" Rating Reaffirmed at DA Davidson

Key Points

• The stock of Bridgewater Bancshares (NASDAQ:BWB) has been given a "buy" rating by DA Davidson, with a price target of $21.00, suggesting a potential upside of 24.19% from current levels.
• Despite the positive outlook from DA Davidson, Zacks Research downgraded the stock from a "strong-buy" to a "hold," while Piper Sandler increased their price objective from $19.00 to $20.00.
• The stock recently traded down 3.4% to $16.91, with insiders selling over 94,298 shares in the last quarter, indicating some movement among company executives and directors.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report)'s stock had its "buy" rating restated by research analysts at DA Davidson in a note issued to investors on Wednesday,Benzinga reports. They currently have a $21.00 price target on the stock. DA Davidson's price target points to a potential upside of 24.19% from the stock's current price.

Several other brokerages have also recently weighed in on BWB. Zacks Research cut shares of Bridgewater Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 23rd. Piper Sandler upped their price objective on shares of Bridgewater Bancshares from $19.00 to $20.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Bridgewater Bancshares in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Bridgewater Bancshares currently has an average rating of "Moderate Buy" and a consensus price target of $20.50.

Bridgewater Bancshares Trading Down 3.4%

BWB stock traded down $0.59 during trading on Wednesday, hitting $16.91. 57,050 shares of the company traded hands, compared to its average volume of 81,293. The company has a 50-day moving average of $16.75 and a 200-day moving average of $15.70. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.02 and a current ratio of 1.02. Bridgewater Bancshares has a 1 year low of $11.93 and a 1 year high of $18.01. The firm has a market capitalization of $464.69 million, a PE ratio of 13.70 and a beta of 0.59.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.28 earnings per share for the quarter. Bridgewater Bancshares had a return on equity of 9.73% and a net margin of 14.03%.The firm had revenue of $26.75 million during the quarter. Analysts predict that Bridgewater Bancshares will post 1.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jerry J. Baack sold 20,000 shares of Bridgewater Bancshares stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $16.02, for a total transaction of $320,400.00. Following the sale, the chief executive officer directly owned 1,224,361 shares in the company, valued at $19,614,263.22. The trade was a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas P. Trutna sold 6,152 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $16.40, for a total value of $100,892.80. Following the completion of the transaction, the director owned 94,496 shares of the company's stock, valued at approximately $1,549,734.40. This trade represents a 6.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,298 shares of company stock worth $1,508,238 over the last quarter. Company insiders own 23.27% of the company's stock.

Institutional Investors Weigh In On Bridgewater Bancshares

A number of institutional investors have recently made changes to their positions in the company. CSM Advisors LLC purchased a new position in Bridgewater Bancshares in the 2nd quarter worth approximately $2,973,000. Curi Capital LLC bought a new stake in shares of Bridgewater Bancshares in the 2nd quarter worth $2,029,000. Mendon Capital Advisors Corp purchased a new position in shares of Bridgewater Bancshares in the second quarter worth $2,029,000. Los Angeles Capital Management LLC bought a new position in shares of Bridgewater Bancshares during the second quarter valued at $2,015,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Bridgewater Bancshares by 87.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 217,530 shares of the company's stock valued at $3,461,000 after purchasing an additional 101,628 shares in the last quarter. Hedge funds and other institutional investors own 65.83% of the company's stock.

Bridgewater Bancshares Company Profile

Bridgewater Bancshares, Inc operates as the bank holding company for Bridgewater Bank that provides banking products and services to commercial real estate investors, entrepreneurs, business clients, and individuals in the United States. The company provides savings and money market accounts, demand deposits, time and brokered deposits, and interest and noninterest bearing transaction, as well as certificates of deposit.

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