Piper Sandler Issues Positive Forecast for Bridgewater Bancshares (NASDAQ:BWB) Stock Price

Key Points

• Piper Sandler raised the target price for Bridgewater Bancshares from $19.00 to $20.00, indicating a potential upside of 23.31%.
• DA Davidson also increased their price target for the stock to $20.00 and assigned it a "buy" rating.
• Bridgewater Bancshares reported $0.37 earnings per share, beating estimates and achieved a revenue of $35.61 million for the latest quarter.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) had its target price hoisted by equities research analysts at Piper Sandler from $19.00 to $20.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's target price suggests a potential upside of 23.31% from the company's current price.

Separately, DA Davidson raised their price target on shares of Bridgewater Bancshares from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday.

Bridgewater Bancshares Stock Performance

BWB stock traded up $0.10 during midday trading on Monday, hitting $16.22. 23,676 shares of the stock traded hands, compared to its average volume of 73,700. The firm has a market cap of $445.05 million, a P/E ratio of 13.28 and a beta of 0.54. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.00 and a quick ratio of 1.00. The stock's fifty day simple moving average is $15.61 and its 200-day simple moving average is $14.59. Bridgewater Bancshares has a 1-year low of $11.93 and a 1-year high of $17.66.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. The business had revenue of $35.61 million for the quarter, compared to the consensus estimate of $32.03 million. Bridgewater Bancshares had a net margin of 14.03% and a return on equity of 9.83%. On average, analysts expect that Bridgewater Bancshares will post 1.38 earnings per share for the current year.

Insider Transactions at Bridgewater Bancshares

In related news, Director Thomas P. Trutna sold 2,200 shares of Bridgewater Bancshares stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $15.78, for a total value of $34,716.00. Following the completion of the transaction, the director owned 100,031 shares in the company, valued at approximately $1,578,489.18. The trade was a 2.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Lisa M. Salazar sold 3,737 shares of Bridgewater Bancshares stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $14.40, for a total transaction of $53,812.80. Following the completion of the transaction, the chief operating officer owned 32,335 shares of the company's stock, valued at $465,624. This trade represents a 10.36% decrease in their position. The disclosure for this sale can be found here. 23.27% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in Bridgewater Bancshares by 1,665.1% in the first quarter. GAMMA Investing LLC now owns 20,210 shares of the company's stock worth $281,000 after acquiring an additional 19,065 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Bridgewater Bancshares by 8.4% during the 4th quarter. American Century Companies Inc. now owns 310,267 shares of the company's stock worth $4,192,000 after buying an additional 24,161 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Bridgewater Bancshares by 544.0% during the 4th quarter. Deutsche Bank AG now owns 22,674 shares of the company's stock worth $306,000 after buying an additional 19,153 shares during the last quarter. Foundry Partners LLC lifted its position in shares of Bridgewater Bancshares by 16.1% during the 4th quarter. Foundry Partners LLC now owns 193,910 shares of the company's stock worth $2,620,000 after buying an additional 26,900 shares during the last quarter. Finally, Villanova Investment Management Co LLC lifted its position in shares of Bridgewater Bancshares by 16.8% during the 4th quarter. Villanova Investment Management Co LLC now owns 162,703 shares of the company's stock worth $2,198,000 after buying an additional 23,449 shares during the last quarter. Institutional investors and hedge funds own 65.83% of the company's stock.

About Bridgewater Bancshares

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.

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