Bridgewater Bancshares (NASDAQ:BWB) Reaches New 12-Month High - Still a Buy?

Key Points

• Bridgewater Bancshares shares reached a new 52-week high of $22.62, with the stock recently trading around $22.42 and above its 50- and 200-day moving averages.
• Analyst sentiment is favorable: four analysts rate BWB a Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of $23.67.
• The company met quarterly earnings expectations with EPS of $0.45, while revenue slightly missed estimates; meanwhile, insiders sold 276,458 shares worth about $5.7 million over the past three months.

Bridgewater Bancshares, Inc. (NASDAQ:BWB - Get Free Report) shares reached a new 52-week high on Thursday . The stock traded as high as $22.62 and last traded at $22.4220, with a volume of 114690 shares changing hands. The stock had previously closed at $22.01.

Wall Street Analyst Weigh In

Several brokerages have commented on BWB. Weiss Ratings raised shares of Bridgewater Bancshares from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, June 18th. Stephens raised shares of Bridgewater Bancshares from an "equal weight" rating to an "overweight" rating and set a $25.00 target price for the company in a research report on Thursday, August 6th. Piper Sandler raised their price target on shares of Bridgewater Bancshares from $23.00 to $24.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Finally, DA Davidson reaffirmed a "buy" rating and issued a $22.00 price target on shares of Bridgewater Bancshares in a report on Wednesday, April 22nd. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Bridgewater Bancshares presently has an average rating of "Moderate Buy" and a consensus price target of $23.67.

Bridgewater Bancshares Price Performance

The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $622.84 million, a P/E ratio of 12.13 and a beta of 0.57. The firm has a 50 day moving average price of $20.81 and a two-hundred day moving average price of $19.29.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. The company had revenue of $40.89 million during the quarter, compared to analyst estimates of $41.43 million. Bridgewater Bancshares had a return on equity of 11.21% and a net margin of 18.38%. On average, analysts predict that Bridgewater Bancshares, Inc. will post 1.85 EPS for the current fiscal year.

Insider Transactions at Bridgewater Bancshares

In related news, insider Nicholas L. Place sold 4,688 shares of the company's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $19.27, for a total transaction of $90,337.76. Following the sale, the insider directly owned 139,622 shares in the company, valued at approximately $2,690,515.94. This represents a 3.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $132,720.00. Following the completion of the transaction, the chief financial officer directly owned 118,501 shares of the company's stock, valued at approximately $2,246,778.96. This trade represents a 5.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 276,458 shares of company stock valued at $5,730,958. 23.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bridgewater Bancshares

Large investors have recently made changes to their positions in the stock. Bleakley Financial Group LLC purchased a new position in Bridgewater Bancshares during the first quarter valued at approximately $1,535,000. Hillsdale Investment Management Inc. boosted its holdings in Bridgewater Bancshares by 39.3% in the 4th quarter. Hillsdale Investment Management Inc. now owns 212,860 shares of the company's stock valued at $3,731,000 after purchasing an additional 60,000 shares during the period. Empowered Funds LLC boosted its holdings in Bridgewater Bancshares by 79.8% in the 1st quarter. Empowered Funds LLC now owns 92,109 shares of the company's stock valued at $1,630,000 after purchasing an additional 40,890 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Bridgewater Bancshares by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,058,471 shares of the company's stock valued at $18,735,000 after purchasing an additional 25,899 shares in the last quarter. Finally, Hodges Capital Management Inc. purchased a new position in shares of Bridgewater Bancshares during the 4th quarter valued at $3,862,000. 65.83% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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