Bridgewater Bancshares (NASDAQ:BWB) Hits New 52-Week High - Time to Buy?

Key Points

• Bridgewater Bancshares hit a new 52-week high, trading as high as $22.06 and last changing hands near $21.90. The move came on very light volume of 267 shares.
• Recent analyst sentiment remains constructive, with Weiss Ratings upgrading the stock and DA Davidson reiterating a Buy rating with a $22 target. The consensus view is currently Moderate Buy with an average price target of $21.67.
• The company posted mixed quarterly results, missing EPS estimates by $0.01 but beating revenue expectations. Insider selling has also been notable, though institutional ownership remains high at 65.83%.

Bridgewater Bancshares, Inc. (NASDAQ:BWB - Get Free Report)'s stock price reached a new 52-week high on Thursday . The company traded as high as $22.06 and last traded at $21.8990, with a volume of 267 shares. The stock had previously closed at $21.81.

Analyst Upgrades and Downgrades

BWB has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Bridgewater Bancshares from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, June 18th. DA Davidson restated a "buy" rating and set a $22.00 target price on shares of Bridgewater Bancshares in a report on Wednesday, April 22nd. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Bridgewater Bancshares presently has an average rating of "Moderate Buy" and a consensus price target of $21.67.

Bridgewater Bancshares Stock Performance

The firm has a market capitalization of $615.52 million, a price-to-earnings ratio of 12.47 and a beta of 0.57. The stock's fifty day moving average is $19.73 and its two-hundred day moving average is $18.84. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.96.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). Bridgewater Bancshares had a net margin of 17.69% and a return on equity of 11.06%. The firm had revenue of $38.96 million during the quarter, compared to analyst estimates of $36.93 million. On average, analysts predict that Bridgewater Bancshares, Inc. will post 1.87 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Lisa M. Salazar sold 4,162 shares of the firm's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $18.55, for a total value of $77,205.10. Following the completion of the sale, the chief operating officer directly owned 36,077 shares in the company, valued at approximately $669,228.35. This trade represents a 10.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nicholas L. Place sold 4,688 shares of the business's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $19.27, for a total value of $90,337.76. Following the transaction, the insider directly owned 139,622 shares in the company, valued at approximately $2,690,515.94. This trade represents a 3.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 62,375 shares of company stock worth $1,161,104 in the last three months. Insiders own 23.10% of the company's stock.

Institutional Investors Weigh In On Bridgewater Bancshares

Large investors have recently added to or reduced their stakes in the business. Alliancebernstein L.P. raised its position in shares of Bridgewater Bancshares by 181.8% in the third quarter. Alliancebernstein L.P. now owns 1,282,210 shares of the company's stock valued at $22,567,000 after purchasing an additional 827,141 shares during the period. Hodges Capital Management Inc. bought a new stake in shares of Bridgewater Bancshares during the 4th quarter worth about $3,862,000. Ancora Advisors LLC bought a new stake in shares of Bridgewater Bancshares during the 3rd quarter worth about $3,426,000. Curi Capital LLC acquired a new position in Bridgewater Bancshares in the 2nd quarter valued at about $2,029,000. Finally, Mendon Capital Advisors Corp acquired a new position in Bridgewater Bancshares in the 2nd quarter valued at about $2,029,000. Institutional investors own 65.83% of the company's stock.

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.

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