Bridgewater Bancshares (NASDAQ:BWB) Releases Earnings Results

Key Points

• Q1 results: Bridgewater Bancshares reported EPS of $0.41 (missed by $0.01) while revenue beat expectations at $38.96 million; the company posted a 10.84% return on equity and a 15.74% net margin.
• Analyst sentiment: The stock carries an average rating of “Moderate Buy” with an average price target of $22.33, after recent upgrades from Weiss, Piper Sandler and DA Davidson.
• Insider activity: Company insiders sold 27,550 shares (about $532,343) over the last 90 days, although insiders still own 23.10% of the company’s stock.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01), FiscalAI reports. The firm had revenue of $38.96 million during the quarter, compared to analysts' expectations of $36.93 million. Bridgewater Bancshares had a return on equity of 10.84% and a net margin of 15.74%.

Bridgewater Bancshares Price Performance

BWB stock opened at $18.60 on Wednesday. Bridgewater Bancshares has a one year low of $12.79 and a one year high of $20.30. The company's fifty day moving average price is $18.24 and its 200-day moving average price is $17.94. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $517.45 million, a PE ratio of 12.40 and a beta of 0.61.

Analyst Ratings Changes

Several research analysts recently weighed in on BWB shares. Weiss Ratings raised shares of Bridgewater Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, March 19th. Piper Sandler reissued an "overweight" rating and set a $23.00 price target (up from $21.00) on shares of Bridgewater Bancshares in a report on Thursday, January 29th. Finally, DA Davidson set a $24.00 price objective on Bridgewater Bancshares in a research report on Thursday, January 29th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $22.33.

Insider Activity at Bridgewater Bancshares

In related news, Director Thomas P. Trutna sold 13,000 shares of the business's stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $19.51, for a total value of $253,630.00. Following the sale, the director owned 82,634 shares in the company, valued at approximately $1,612,189.34. The trade was a 13.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James S. Johnson sold 4,712 shares of the company's stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $19.71, for a total transaction of $92,873.52. Following the sale, the director directly owned 95,348 shares in the company, valued at approximately $1,879,309.08. The trade was a 4.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 27,550 shares of company stock valued at $532,343. Corporate insiders own 23.10% of the company's stock.

Hedge Funds Weigh In On Bridgewater Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in BWB. BNP Paribas Financial Markets raised its position in shares of Bridgewater Bancshares by 78.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,385 shares of the company's stock valued at $38,000 after buying an additional 1,046 shares in the last quarter. LPL Financial LLC grew its position in Bridgewater Bancshares by 7.8% in the fourth quarter. LPL Financial LLC now owns 11,770 shares of the company's stock worth $206,000 after acquiring an additional 855 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Bridgewater Bancshares by 14.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,419 shares of the company's stock worth $218,000 after acquiring an additional 1,535 shares during the last quarter. AQR Capital Management LLC bought a new stake in Bridgewater Bancshares during the first quarter worth approximately $178,000. Finally, Polymer Capital Management US LLC purchased a new stake in Bridgewater Bancshares during the fourth quarter valued at approximately $226,000. 65.83% of the stock is owned by hedge funds and other institutional investors.

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.