Bridgewater Bancshares (NASDAQ:BWB) Announces Quarterly Earnings Results

Key Points

• Bridgewater Bancshares reported earnings of $0.39 EPS for the quarter, missing analysts' estimates of $0.40 EPS by $0.01.
• Despite the earnings miss, the stock price has been trading up 0.6%, reaching $17.50 with a market cap of approximately $480.90 million.
• Institutional investors hold 65.83% of the stock, with notable recent activity including acquisitions by AQR Capital Management and Arrowstreet Capital Limited Partnership.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) posted its earnings results on Tuesday. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02), Zacks reports. The firm had revenue of $36.09 million during the quarter, compared to analyst estimates of $34.20 million. Bridgewater Bancshares had a net margin of 14.03% and a return on equity of 9.73%.

Bridgewater Bancshares Price Performance

Bridgewater Bancshares stock opened at $17.50 on Wednesday. The firm has a market cap of $480.90 million, a PE ratio of 14.34 and a beta of 0.59. Bridgewater Bancshares has a 52-week low of $11.93 and a 52-week high of $18.01. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.25. The company's 50 day moving average is $16.75 and its two-hundred day moving average is $15.70.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Weiss Ratings reiterated a "hold (c+)" rating on shares of Bridgewater Bancshares in a report on Wednesday, October 8th. DA Davidson boosted their target price on shares of Bridgewater Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a report on Friday, July 25th. Piper Sandler boosted their target price on shares of Bridgewater Bancshares from $19.00 to $20.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Finally, Zacks Research lowered shares of Bridgewater Bancshares from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 23rd. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $20.00.

Insider Activity at Bridgewater Bancshares

In other Bridgewater Bancshares news, EVP Mary Jayne Crocker sold 9,314 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $16.05, for a total transaction of $149,489.70. Following the sale, the executive vice president directly owned 192,339 shares in the company, valued at $3,087,040.95. This represents a 4.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jerry J. Baack sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $16.01, for a total transaction of $160,100.00. Following the sale, the chief executive officer owned 1,214,361 shares in the company, valued at approximately $19,441,919.61. This trade represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 94,298 shares of company stock worth $1,508,238 over the last 90 days. 23.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bridgewater Bancshares

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its holdings in Bridgewater Bancshares by 78.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,385 shares of the company's stock worth $38,000 after buying an additional 1,046 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Bridgewater Bancshares in the 1st quarter valued at approximately $178,000. Quantinno Capital Management LP purchased a new stake in shares of Bridgewater Bancshares in the 2nd quarter valued at approximately $259,000. Empowered Funds LLC increased its position in shares of 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 purchasing an additional 1,752 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Bridgewater Bancshares by 6.3% in the 2nd quarter. First Trust Advisors LP now owns 17,826 shares of the company's stock valued at $284,000 after purchasing an additional 1,050 shares during the last quarter. 65.83% of the stock is currently owned by institutional investors and hedge funds.

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.