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

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) released its quarterly earnings data on Wednesday. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.02, Zacks reports. The company had revenue of $35.61 million for the quarter, compared to the consensus estimate of $32.03 million. Bridgewater Bancshares had a return on equity of 9.83% and a net margin of 14.03%.

Bridgewater Bancshares Price Performance

Shares of BWB traded up $0.01 during midday trading on Friday, reaching $16.12. The stock had a trading volume of 41,995 shares, compared to its average volume of 73,973. Bridgewater Bancshares has a 52 week low of $11.93 and a 52 week high of $17.66. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.00 and a quick ratio of 1.00. The firm's 50 day moving average price is $15.60 and its 200-day moving average price is $14.55. The company has a market capitalization of $442.33 million, a P/E ratio of 13.21 and a beta of 0.54.

Analysts Set New Price Targets

A number of brokerages have weighed in on BWB. DA Davidson raised their price objective on Bridgewater Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Friday. Piper Sandler reiterated an "overweight" rating and issued a $19.00 target price (up previously from $18.00) on shares of Bridgewater Bancshares in a research report on Thursday, June 26th.

Insiders Place Their Bets

In related news, COO Lisa M. Salazar sold 3,737 shares of Bridgewater Bancshares stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $14.40, for a total value of $53,812.80. Following the transaction, the chief operating officer directly owned 32,335 shares in the company, valued at $465,624. The trade was a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas P. Trutna sold 2,200 shares of Bridgewater Bancshares stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $15.78, for a total value of $34,716.00. Following the completion of the transaction, the director owned 100,031 shares in the company, valued at $1,578,489.18. The trade was a 2.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.27% of the stock is currently owned by insiders.

Institutional Trading of Bridgewater Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in BWB. AQR Capital Management LLC acquired a new position in shares of Bridgewater Bancshares during the 1st quarter worth about $178,000. Empowered Funds LLC lifted its position in shares of Bridgewater Bancshares by 10.1% during the 1st quarter. Empowered Funds LLC now owns 19,170 shares of the company's stock worth $266,000 after purchasing an additional 1,752 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Bridgewater Bancshares during the 1st quarter worth about $357,000. Institutional investors and hedge funds own 65.83% of the company's stock.

About Bridgewater Bancshares

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.