Bridgewater Bancshares (NASDAQ:BWB) Reaches New 1-Year High – Here’s What Happened

Bridgewater Bancshares, Inc. (NASDAQ:BWB) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $20.31 and last traded at $20.2850, with a volume of 102101 shares trading hands. The stock had previously closed at $19.93.

Wall Street Analysts Forecast Growth

BWB has been the topic of several analyst reports. DA Davidson reissued a “buy” rating and issued a $22.00 price objective on shares of Bridgewater Bancshares in a research note on Wednesday, April 22nd. Weiss Ratings upgraded Bridgewater Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.67.

Bridgewater Bancshares Stock Performance

The company has a debt-to-equity ratio of 0.96, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a fifty day simple moving average of $18.85 and a two-hundred day simple moving average of $18.49. The firm has a market capitalization of $569.03 million, a P/E ratio of 11.53 and a beta of 0.58.

Bridgewater Bancshares (NASDAQ:BWB) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). The company had revenue of $38.96 million for the quarter, compared to analyst estimates of $36.93 million. Bridgewater Bancshares had a return on equity of 11.06% and a net margin of 17.69%. On average, research analysts predict that Bridgewater Bancshares, Inc. will post 1.85 EPS for the current year.

Insider Transactions at Bridgewater Bancshares

In other Bridgewater Bancshares news, insider Nicholas L. Place sold 4,688 shares of Bridgewater Bancshares stock in a transaction on Friday, June 5th. The shares were sold at an average price of $19.27, for a total value of $90,337.76. Following the completion of the sale, the insider directly owned 139,622 shares of the company’s stock, valued at approximately $2,690,515.94. The trade was a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Joseph M. Chybowski sold 7,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $18.96, for a total transaction of $132,720.00. Following the transaction, the chief financial officer directly owned 118,501 shares in the company, valued at $2,246,778.96. This trade represents a 5.58% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 62,375 shares of company stock valued at $1,161,104. 23.10% of the stock is owned by insiders.

Institutional Trading of Bridgewater Bancshares

Several hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in Bridgewater Bancshares by 124.3% during the third quarter. JPMorgan Chase & Co. now owns 122,117 shares of the company’s stock worth $2,149,000 after buying an additional 67,676 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Bridgewater Bancshares during the 3rd quarter valued at $2,690,000. Daytona Street Capital LLC bought a new position in Bridgewater Bancshares during the 4th quarter valued at $1,514,000. Tectonic Advisors LLC purchased a new position in Bridgewater Bancshares during the 4th quarter worth $1,543,000. Finally, EJF Capital LLC boosted its holdings in Bridgewater Bancshares by 20.2% during the 3rd quarter. EJF Capital LLC now owns 195,642 shares of the company’s stock worth $3,443,000 after acquiring an additional 32,875 shares during the last quarter. Institutional investors and hedge funds 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.