Bridgewater Bancshares (NASDAQ:BWB) Reaches New 52-Week High – Should You Buy?

Shares of Bridgewater Bancshares, Inc. (NASDAQ:BWB) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $21.84 and last traded at $21.4160, with a volume of 163439 shares trading hands. The stock had previously closed at $21.46.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BWB shares. DA Davidson reiterated a “buy” rating and set a $22.00 target price on shares of Bridgewater Bancshares in a research report on Wednesday, April 22nd. Weiss Ratings raised Bridgewater Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, June 18th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.67.

Bridgewater Bancshares Price Performance

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 $19.36 and a 200-day simple moving average of $18.71. The firm has a market cap of $591.33 million, a PE ratio of 11.98 and a beta of 0.57.

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). Bridgewater Bancshares had a net margin of 17.69% and a return on equity of 11.06%. The business had revenue of $38.96 million during the quarter, compared to analysts’ expectations of $36.93 million. Equities analysts anticipate that Bridgewater Bancshares, Inc. will post 1.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bridgewater Bancshares news, COO Lisa M. Salazar sold 4,162 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $18.55, for a total value of $77,205.10. Following the completion of the transaction, the chief operating officer directly owned 36,077 shares in the company, valued at $669,228.35. This represents a 10.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeffrey D. Shellberg sold 20,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $18.55, for a total transaction of $371,000.00. Following the transaction, the director directly owned 25,000 shares of the company’s stock, valued at $463,750. The trade was a 44.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 62,375 shares of company stock worth $1,161,104 over the last ninety days. 23.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bridgewater Bancshares

A number of hedge funds have recently made changes to their positions in BWB. AQR Capital Management LLC purchased a new position in Bridgewater Bancshares during the 1st quarter valued at approximately $178,000. Empowered Funds LLC grew its holdings in shares of Bridgewater Bancshares by 10.1% in the first quarter. Empowered Funds LLC now owns 19,170 shares of the company’s stock valued at $266,000 after purchasing an additional 1,752 shares in the last quarter. Jane Street Group LLC bought a new stake in Bridgewater Bancshares in the first quarter worth $357,000. Rhumbline Advisers raised its stake in Bridgewater Bancshares by 21.3% during the second quarter. Rhumbline Advisers now owns 35,416 shares of the company’s stock valued at $563,000 after purchasing an additional 6,230 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Bridgewater Bancshares by 87.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 217,530 shares of the company’s stock valued at $3,461,000 after purchasing an additional 101,628 shares in the last quarter. 65.83% of the stock is currently owned by hedge funds and other institutional investors.

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.