DA Davidson Reaffirms "Buy" Rating for Bridgewater Bancshares (NASDAQ:BWB)

Key Points

• DA Davidson reaffirmed a Buy rating on Bridgewater Bancshares with a $22 price target (about 20.35% upside), and other analysts including Weiss and Piper Sandler have raised ratings/targets, leaving a consensus "Moderate Buy" and $21.67 consensus target.
• The stock traded at $18.28 after the company reported Q1 EPS of $0.41 (missed by $0.01) while revenue of $38.96M beat estimates; the shares trade at a P/E of 12.19 with a market cap of roughly $508.6M.
• Insiders sold 27,550 shares (~$532k) over the last quarter, reducing holdings, though insiders still own 23.10% of the company and institutional investors own 65.83%.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at DA Davidson in a report released on Wednesday,Benzinga reports. They currently have a $22.00 price objective on the stock. DA Davidson's target price points to a potential upside of 20.35% from the stock's previous close.

Several other research firms have also issued reports on BWB. Weiss Ratings raised shares of Bridgewater Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, March 19th. Piper Sandler reissued an "overweight" rating and issued a $23.00 price target (up from $21.00) on shares of Bridgewater Bancshares in a research report on Thursday, January 29th. Three equities research 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 stock currently has an average rating of "Moderate Buy" and a consensus target price of $21.67.

Bridgewater Bancshares Stock Performance

Shares of BWB traded down $0.32 during trading hours on Wednesday, reaching $18.28. 45,524 shares of the company traded hands, compared to its average volume of 77,062. The stock's fifty day moving average is $18.24 and its 200 day moving average is $17.94. The stock has a market cap of $508.55 million, a P/E ratio of 12.19 and a beta of 0.61. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.02 and a current ratio of 1.02. Bridgewater Bancshares has a 1-year low of $13.08 and a 1-year high of $20.30.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last issued its earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). Bridgewater Bancshares had a net margin of 15.74% and a return on equity of 10.84%. The business had revenue of $38.96 million for the quarter, compared to analyst estimates of $36.93 million. Equities research analysts anticipate that Bridgewater Bancshares will post 1.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jeffrey D. Shellberg sold 9,838 shares of the firm's stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $18.89, for a total transaction of $185,839.82. Following the completion of the sale, the director owned 266,187 shares of the company's stock, valued at approximately $5,028,272.43. This trade represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas P. Trutna sold 13,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $19.51, for a total transaction of $253,630.00. Following the sale, the director directly owned 82,634 shares of the company's stock, valued at approximately $1,612,189.34. The trade was a 13.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 27,550 shares of company stock valued at $532,343 over the last quarter. Corporate insiders own 23.10% of the company's stock.

Institutional Trading of Bridgewater Bancshares

Several hedge funds have recently modified their holdings of the company. Inspire Investing LLC increased its holdings in shares of Bridgewater Bancshares by 2.1% during the fourth quarter. Inspire Investing LLC now owns 26,748 shares of the company's stock worth $469,000 after buying an additional 544 shares in the last quarter. Gator Capital Management LLC increased its holdings in shares of Bridgewater Bancshares by 0.7% during the third quarter. Gator Capital Management LLC now owns 101,005 shares of the company's stock worth $1,778,000 after buying an additional 680 shares in the last quarter. Villanova Investment Management Co LLC increased its holdings in shares of Bridgewater Bancshares by 0.4% during the fourth quarter. Villanova Investment Management Co LLC now owns 187,423 shares of the company's stock worth $3,286,000 after buying an additional 770 shares in the last quarter. Ieq Capital LLC increased its holdings in shares of Bridgewater Bancshares by 6.2% during the fourth quarter. Ieq Capital LLC now owns 13,105 shares of the company's stock worth $230,000 after buying an additional 770 shares in the last quarter. Finally, LPL Financial LLC increased its holdings in shares of Bridgewater Bancshares by 7.8% during the fourth quarter. LPL Financial LLC now owns 11,770 shares of the company's stock worth $206,000 after buying an additional 855 shares in the last quarter. Institutional investors and hedge funds own 65.83% of the company's stock.

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.

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