Bridgewater Bancshares (NASDAQ:BWB) Price Target Raised to $20.00 at DA Davidson

Key Points

• DA Davidson raised the price target for Bridgewater Bancshares from $18.00 to $20.00, indicating a potential upside of 23.92% from the current stock price.
• Piper Sandler also updated its rating, increasing the target price from $18.00 to $19.00 with an "overweight" rating.
• The company reported $0.37 EPS for the last quarter, surpassing analysts' expectations of $0.35, with revenues of $35.61 million.
• Insiders own 23.27% of Bridgewater Bancshares' stock, with notable recent sales by the Director and COO.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) had its price objective boosted by investment analysts at DA Davidson from $18.00 to $20.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. DA Davidson's target price suggests a potential upside of 23.92% from the stock's current price.

Separately, Piper Sandler reiterated an "overweight" rating and set a $19.00 target price (up from $18.00) on shares of Bridgewater Bancshares in a report on Thursday, June 26th.

Bridgewater Bancshares Price Performance

Shares of BWB stock traded up $0.03 during mid-day trading on Friday, reaching $16.14. The stock had a trading volume of 19,243 shares, compared to its average volume of 73,957. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.07. The company has a market cap of $442.88 million, a P/E ratio of 13.23 and a beta of 0.54. Bridgewater Bancshares has a 12-month low of $11.93 and a 12-month high of $17.66. The business has a 50-day simple moving average of $15.60 and a 200 day simple moving average of $14.55.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.02. Bridgewater Bancshares had a net margin of 14.03% and a return on equity of 9.83%. The business had revenue of $35.61 million during the quarter, compared to the consensus estimate of $32.03 million. On average, sell-side analysts anticipate that Bridgewater Bancshares will post 1.38 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Thomas P. Trutna sold 2,200 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $15.78, for a total transaction of $34,716.00. Following the transaction, the director directly owned 100,031 shares of the company's stock, valued at approximately $1,578,489.18. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Lisa M. Salazar sold 3,737 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. 23.27% of the stock is owned by insiders.

Institutional Trading of Bridgewater Bancshares

Several large investors have recently made changes to their positions in the stock. Bridgeway Capital Management LLC boosted its stake in Bridgewater Bancshares by 1.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 74,918 shares of the company's stock valued at $1,012,000 after purchasing an additional 895 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Bridgewater Bancshares by 2.3% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,781 shares of the company's stock valued at $678,000 after acquiring an additional 1,099 shares in the last quarter. Sippican Capital Advisors raised its holdings in Bridgewater Bancshares by 1.5% in the 2nd quarter. Sippican Capital Advisors now owns 97,610 shares of the company's stock valued at $1,553,000 after acquiring an additional 1,400 shares in the last quarter. CWM LLC raised its holdings in Bridgewater Bancshares by 182.1% in the 2nd quarter. CWM LLC now owns 2,463 shares of the company's stock valued at $39,000 after acquiring an additional 1,590 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in Bridgewater Bancshares by 10.1% in the 1st quarter. Empowered Funds LLC now owns 19,170 shares of the company's stock valued at $266,000 after acquiring an additional 1,752 shares in the last quarter. Institutional investors own 65.83% of the company's stock.

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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