Bridgewater Bancshares (NASDAQ:BWB) Shares Gap Down - What's Next?

Key Points

• Bridgewater Bancshares (NASDAQ:BWB) gapped down at the open, falling from a prior close of $21.89 to an opening price of $20.77 and trading around $20.64, down about 6.2%.
• The company’s latest earnings matched expectations, with EPS of $0.45 versus the consensus estimate, while revenue of $40.89 million came in slightly below forecasts.
• Analysts remain cautiously positive: BWB has a Moderate Buy consensus rating and a target price of $21.67, while insiders and institutions have recently made notable trades in the stock.

Bridgewater Bancshares, Inc. (NASDAQ:BWB - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $21.89, but opened at $20.77. Bridgewater Bancshares shares last traded at $20.6360, with a volume of 42,637 shares trading hands.

Wall Street Analyst Weigh In

BWB has been the subject of several research reports. Weiss Ratings raised shares of Bridgewater Bancshares from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, June 18th. DA Davidson reiterated a "buy" rating and set a $22.00 target price on shares of Bridgewater Bancshares in a research note on Wednesday, April 22nd. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $21.67.

Bridgewater Bancshares Trading Down 6.2%

The firm has a market capitalization of $572.30 million, a P/E ratio of 11.60 and a beta of 0.57. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.96. The stock has a 50 day simple moving average of $20.03 and a 200-day simple moving average of $18.96.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last issued 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 firm had revenue of $40.89 million for the quarter, compared to analysts' expectations of $41.43 million. Bridgewater Bancshares had a net margin of 17.69% and a return on equity of 11.06%. On average, equities research analysts forecast that Bridgewater Bancshares, Inc. will post 1.87 EPS for the current fiscal year.

Insider Buying and Selling at Bridgewater Bancshares

In other Bridgewater Bancshares news, Director Mary Jayne Crocker sold 6,525 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $18.50, for a total value of $120,712.50. Following the transaction, the director directly owned 209,502 shares in the company, valued at approximately $3,875,787. This trade represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas L. Place sold 4,688 shares of Bridgewater Bancshares stock in a transaction on Friday, June 5th. The stock was sold at an average price of $19.27, for a total transaction of $90,337.76. Following the transaction, the insider owned 139,622 shares in the company, valued at $2,690,515.94. This represents a 3.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 62,375 shares of company stock valued at $1,161,104 in the last quarter. Insiders own 23.10% of the company's stock.

Institutional Trading of Bridgewater Bancshares

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in shares of Bridgewater Bancshares by 124.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 122,117 shares of the company's stock valued at $2,149,000 after buying an additional 67,676 shares in the last quarter. Bleakley Financial Group LLC purchased a new stake in Bridgewater Bancshares in the 1st quarter worth approximately $1,535,000. Daytona Street Capital LLC bought a new stake in Bridgewater Bancshares during the 4th quarter worth approximately $1,514,000. Hillsdale Investment Management Inc. raised its stake in Bridgewater Bancshares by 39.3% during the 4th quarter. Hillsdale Investment Management Inc. now owns 212,860 shares of the company's stock worth $3,731,000 after acquiring an additional 60,000 shares during the period. Finally, Tectonic Advisors LLC purchased a new position in Bridgewater Bancshares during the fourth quarter valued at approximately $1,543,000. Institutional investors own 65.83% of the company's stock.

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.