Bridgewater Bancshares (NASDAQ:BWB) Issues Earnings Results

Key Points

• Bridgewater Bancshares reported quarterly EPS of $0.45, just below the $0.46 consensus estimate, while revenue came in at $40.89 million versus expectations of $41.43 million.
• The stock traded slightly lower after the report, ending at $21.89, though it remained near its 12-month high of $22.59 and above its 12-month low of $14.90.
• Analysts remain cautiously positive, with the stock carrying a Moderate Buy rating and an average price target of $21.67; meanwhile, insiders have recently sold shares, including the CFO and a director.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.01), FiscalAI reports. The business had revenue of $40.89 million during the quarter, compared to the consensus estimate of $41.43 million. Bridgewater Bancshares had a return on equity of 11.06% and a net margin of 17.69%.

Bridgewater Bancshares Stock Performance

Shares of BWB stock traded down $0.06 on Tuesday, reaching $21.89. The stock had a trading volume of 149,631 shares, compared to its average volume of 109,715. Bridgewater Bancshares has a 12 month low of $14.90 and a 12 month high of $22.59. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $610.29 million, a price-to-earnings ratio of 12.37 and a beta of 0.57. The firm's 50-day moving average is $19.96 and its two-hundred day moving average is $18.93.

Insider Transactions at Bridgewater Bancshares

In other news, CFO Joseph M. Chybowski sold 7,000 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $18.96, for a total value of $132,720.00. Following the completion of the sale, the chief financial officer directly owned 118,501 shares of the company's stock, valued at $2,246,778.96. This trade represents a 5.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeffrey D. Shellberg sold 20,000 shares of the firm's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $18.55, for a total value of $371,000.00. Following the sale, the director directly owned 25,000 shares of the company's stock, valued at $463,750. This represents a 44.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 62,375 shares of company stock valued at $1,161,104. Company insiders own 23.10% of the company's stock.

Institutional Trading of Bridgewater Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. boosted its holdings in shares of Bridgewater Bancshares by 181.8% during the third 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 period. Ancora Advisors LLC bought a new position in shares of Bridgewater Bancshares during the third quarter worth approximately $3,426,000. Curi Capital LLC acquired a new stake in Bridgewater Bancshares during the 2nd quarter worth approximately $2,029,000. Mendon Capital Advisors Corp acquired a new stake in Bridgewater Bancshares during the 2nd quarter worth approximately $2,029,000. Finally, Kennedy Capital Management LLC boosted its stake in Bridgewater Bancshares by 69.6% in the 3rd quarter. Kennedy Capital Management LLC now owns 271,832 shares of the company's stock valued at $4,784,000 after purchasing an additional 111,592 shares during the period. Institutional investors own 65.83% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Weiss Ratings upgraded 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $21.67.

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.

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