Bridgewater Bancshares (NASDAQ:BWB) Issues Earnings Results

Key Points

• Bridgewater Bancshares exceeded quarterly earnings expectations: It reported $0.49 in earnings per share versus the $0.47 consensus estimate, while revenue of $43.23 million was essentially in line with forecasts.
• Analysts remain bullish on the stock: Four analysts rate Bridgewater Bancshares a Buy, with a consensus price target of $23.67; Stephens and Piper Sandler recently raised their ratings or price targets.
• Insiders have been selling shares: Company directors sold 319,726 shares worth approximately $6.8 million over the past three months, though insiders still own 23.1% of the company.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) released its quarterly earnings data on Tuesday. The company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.02, FiscalAI reports. The company had revenue of $43.23 million for the quarter, compared to analysts' expectations of $43.20 million. Bridgewater Bancshares had a net margin of 18.38% and a return on equity of 11.21%.

Bridgewater Bancshares Stock Performance

BWB traded up $0.28 during trading on Tuesday, hitting $20.61. 101,233 shares of the stock were exchanged, compared to its average volume of 117,638. The firm has a market capitalization of $574.61 million, a P/E ratio of 11.20 and a beta of 0.63. Bridgewater Bancshares has a 1-year low of $16.06 and a 1-year high of $22.62. The stock has a fifty day moving average price of $21.06 and a two-hundred day moving average price of $20.18. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.90.

Insiders Place Their Bets

In other news, Director Mary Crocker sold 11,000 shares of Bridgewater Bancshares stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $21.04, for a total value of $231,440.00. Following the transaction, the director directly owned 224,384 shares of the company's stock, valued at $4,721,039.36. The trade was a 4.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey D. Shellberg sold 40,000 shares of Bridgewater Bancshares stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $21.26, for a total transaction of $850,400.00. Following the completion of the transaction, the director directly owned 66,187 shares in the company, valued at $1,407,135.62. The trade was a 37.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 319,726 shares of company stock valued at $6,800,586. 23.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Weiss Ratings reaffirmed a "buy (b+)" rating on shares of Bridgewater Bancshares in a research report on Monday, September 14th. Piper Sandler boosted their price target on shares of Bridgewater Bancshares from $23.00 to $24.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Finally, Stephens upgraded shares of Bridgewater Bancshares from an "equal weight" rating to an "overweight" rating and set a $25.00 price objective for the company in a research note on Thursday, August 6th. Four equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, Bridgewater Bancshares currently has a consensus rating of "Buy" and a consensus price target of $23.67.

Bridgewater Bancshares Company Profile

Bridgewater Bancshares, Inc is the bank holding company for Bridgewater Bank, a community-focused commercial bank headquartered in St. Louis Park, Minnesota. Founded in 2005, the company serves businesses, real estate professionals, entrepreneurs and individuals primarily in the Minneapolis–St. Paul metropolitan area and surrounding markets.

Bridgewater Bank provides commercial and consumer banking products, including commercial real estate loans, commercial and industrial financing, residential real estate lending, construction and development loans, personal and business deposit accounts, cash-management services and online banking.

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