Bridgewater Bancshares (NASDAQ:BWB) Downgraded by Zacks Research to "Hold"

Key Points

• Bridgewater Bancshares has been downgraded from a "strong-buy" to a "hold" rating by Zacks Research, reflecting a significant change in analyst sentiment.
• Despite the downgrade, DA Davidson and Piper Sandler both raised their target prices for the stock to $20.00, indicating continued optimism among some analysts.
• Insider trading activity revealed that CEO Jerry J. Baack sold 20,000 shares, indicating a potential change in management's confidence in the company's future performance.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Tuesday,Zacks.com reports.

BWB has been the topic of several other research reports. DA Davidson lifted their target price on Bridgewater Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Piper Sandler lifted their price target on Bridgewater Bancshares from $19.00 to $20.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.00.

Bridgewater Bancshares Stock Down 1.2%

Shares of Bridgewater Bancshares stock opened at $17.12 on Tuesday. The business's fifty day moving average price is $16.23 and its two-hundred day moving average price is $15.24. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $470.46 million, a P/E ratio of 14.03 and a beta of 0.58. Bridgewater Bancshares has a 1-year low of $11.93 and a 1-year high of $18.01.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The firm 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 9.73% and a net margin of 14.03%. As a group, research analysts forecast that Bridgewater Bancshares will post 1.38 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Jerry J. Baack sold 20,000 shares of Bridgewater Bancshares stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $16.02, for a total value of $320,400.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Douglas J. Parish sold 7,500 shares of Bridgewater Bancshares stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $15.23, for a total value of $114,225.00. Following the completion of the transaction, the director owned 8,107 shares in the company, valued at $123,469.61. The trade was a 48.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,298 shares of company stock worth $1,508,238. Corporate insiders own 23.27% of the company's stock.

Hedge Funds Weigh In On Bridgewater Bancshares

A number of hedge funds have recently modified their holdings of BWB. CSM Advisors LLC purchased a new position in shares of Bridgewater Bancshares during the second quarter valued at $2,973,000. Curi Capital LLC purchased a new position in shares of Bridgewater Bancshares during the second quarter valued at $2,029,000. Mendon Capital Advisors Corp purchased a new position in shares of Bridgewater Bancshares during the second quarter valued at $2,029,000. Los Angeles Capital Management LLC purchased a new position in shares of Bridgewater Bancshares during the second quarter valued at $2,015,000. Finally, Arrowstreet Capital Limited Partnership grew 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 buying an additional 101,628 shares in the last quarter. 65.83% of the stock is currently owned by institutional investors and hedge funds.

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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