Bridgewater Bancshares (NASDAQ:BWB) Hits New 52-Week High – Time to Buy?

Bridgewater Bancshares, Inc. (NASDAQ:BWB) hit a new 52-week high during trading on Monday . The company traded as high as $21.01 and last traded at $20.67, with a volume of 1013815 shares trading hands. The stock had previously closed at $20.84.

Analyst Ratings Changes

Several research firms have recently weighed in on BWB. DA Davidson reiterated a “buy” rating and set a $22.00 price target on shares of Bridgewater Bancshares in a research note on Wednesday, April 22nd. Weiss Ratings raised shares of Bridgewater Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, June 18th. Three equities 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $21.67.

Bridgewater Bancshares Price Performance

The business’s 50-day moving average price is $19.07 and its 200 day moving average price is $18.61. The company has a market capitalization of $586.60 million, a P/E ratio of 11.89 and a beta of 0.58. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.96.

Bridgewater Bancshares (NASDAQ:BWB) last posted its earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Bridgewater Bancshares had a return on equity of 11.06% and a net margin of 17.69%.The firm had revenue of $38.96 million for the quarter, compared to the consensus estimate of $36.93 million. Analysts anticipate that Bridgewater Bancshares, Inc. will post 1.85 EPS for the current fiscal year.

Insider Activity

In other news, COO Lisa M. Salazar sold 4,162 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $18.55, for a total value of $77,205.10. Following the transaction, the chief operating officer owned 36,077 shares of the company’s stock, valued at approximately $669,228.35. This represents a 10.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 sale, the insider directly owned 139,622 shares of the company’s stock, valued at $2,690,515.94. This represents a 3.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 62,375 shares of company stock worth $1,161,104. Company insiders own 23.10% of the company’s stock.

Institutional Trading of Bridgewater Bancshares

A number of large investors have recently modified their holdings of BWB. BNP Paribas Financial Markets grew 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 in the last quarter. State of Alaska Department of Revenue raised its stake in 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 in the last quarter. LPL Financial LLC lifted its position in Bridgewater Bancshares by 7.8% during the fourth quarter. LPL Financial LLC now owns 11,770 shares of the company’s stock valued at $206,000 after purchasing an additional 855 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Bridgewater Bancshares by 14.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,419 shares of the company’s stock valued at $218,000 after purchasing an additional 1,535 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new position in Bridgewater Bancshares in the 1st quarter worth approximately $178,000. Institutional investors 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.