Bridgewater Bancshares (NASDAQ:BWB) Sets New 12-Month High – Here’s Why

Bridgewater Bancshares, Inc. (NASDAQ:BWB) hit a new 52-week high during trading on Thursday . The company traded as high as $22.62 and last traded at $22.4220, with a volume of 114690 shares trading hands. The stock had previously closed at $22.01.

Analysts Set New Price Targets

BWB has been the subject of a number of research reports. DA Davidson restated a “buy” rating and set a $22.00 target price on shares of Bridgewater Bancshares in a research report on Wednesday, April 22nd. Piper Sandler upped their price target on shares of Bridgewater Bancshares from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Stephens upgraded shares of Bridgewater Bancshares from an “equal weight” rating to an “overweight” rating and set a $25.00 price target on the stock in a research report on Thursday, August 6th. Finally, Weiss Ratings raised shares of Bridgewater Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, June 18th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.67.

Bridgewater Bancshares Price Performance

The company has a debt-to-equity ratio of 0.90, a current ratio of 1.05 and a quick ratio of 1.05. The company has a 50-day moving average price of $20.93 and a 200-day moving average price of $19.34. The firm has a market capitalization of $619.86 million, a PE ratio of 12.08 and a beta of 0.57.

Bridgewater Bancshares (NASDAQ:BWB) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. The business had revenue of $40.89 million for the quarter, compared to analyst estimates of $41.43 million. Bridgewater Bancshares had a return on equity of 11.21% and a net margin of 18.38%. Sell-side analysts forecast that Bridgewater Bancshares, Inc. will post 1.85 EPS for the current year.

Insider Activity

In other Bridgewater Bancshares news, CEO Jerry J. Baack sold 15,900 shares of the firm’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $20.80, for a total transaction of $330,720.00. Following the sale, the chief executive officer directly owned 1,170,103 shares of the company’s stock, valued at $24,338,142.40. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joseph M. Chybowski sold 7,000 shares of Bridgewater Bancshares 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 sale, the chief financial officer owned 118,501 shares of the company’s stock, valued at approximately $2,246,778.96. This trade represents a 5.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 301,458 shares of company stock valued at $6,284,408 in the last 90 days. Company insiders own 23.10% of the company’s stock.

Institutional Trading of Bridgewater Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of BWB. Northwestern Mutual Wealth Management Co. acquired a new position in Bridgewater Bancshares in the 2nd quarter valued at $32,000. BNP Paribas Financial Markets boosted its holdings in shares of Bridgewater Bancshares by 78.1% during the second quarter. BNP Paribas Financial Markets now owns 2,385 shares of the company’s stock worth $38,000 after purchasing an additional 1,046 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of Bridgewater Bancshares in the second quarter valued at $45,000. State of Alaska Department of Revenue grew its position in shares of Bridgewater Bancshares by 253.6% in the fourth quarter. State of Alaska Department of Revenue now owns 3,851 shares of the company’s stock valued at $67,000 after purchasing an additional 2,762 shares during the period. Finally, AQR Capital Management LLC acquired a new position in Bridgewater Bancshares in the first quarter valued at $178,000. 65.83% of the stock is 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.