DA Davidson Reiterates Buy Rating for Bridgewater Bancshares (NASDAQ:BWB)

Bridgewater Bancshares (NASDAQ:BWB)‘s stock had its “buy” rating reaffirmed by stock analysts at DA Davidson in a note issued to investors on Wednesday,Benzinga reports. They currently have a $23.00 target price on the stock. DA Davidson’s price objective would suggest a potential upside of 19.92% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on BWB. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bridgewater Bancshares in a research note on Wednesday, January 21st. Stephens began coverage on Bridgewater Bancshares in a research report on Wednesday, December 10th. They issued an “equal weight” rating and a $20.00 target price for the company. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $22.33.

Bridgewater Bancshares Stock Performance

Shares of BWB stock opened at $19.18 on Wednesday. The firm’s 50 day moving average price is $18.08 and its 200-day moving average price is $17.07. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.01 and a current ratio of 1.01. Bridgewater Bancshares has a one year low of $11.93 and a one year high of $19.40. The firm has a market cap of $528.98 million, a P/E ratio of 12.79 and a beta of 0.64.

Bridgewater Bancshares (NASDAQ:BWB) last posted its earnings results on Tuesday, January 27th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. The firm had revenue of $38.84 million during the quarter, compared to the consensus estimate of $36.10 million. Bridgewater Bancshares had a net margin of 15.74% and a return on equity of 11.07%. As a group, equities research analysts predict that Bridgewater Bancshares will post 1.38 EPS for the current year.

Insider Buying and Selling

In related news, Director Jeffrey D. Shellberg sold 21,936 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $17.78, for a total transaction of $390,022.08. Following the sale, the director directly owned 277,924 shares in the company, valued at approximately $4,941,488.72. This represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jerry J. Baack sold 18,007 shares of Bridgewater Bancshares stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $17.07, for a total transaction of $307,379.49. Following the completion of the transaction, the chief executive officer owned 1,171,354 shares of the company’s stock, valued at $19,995,012.78. This represents a 1.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 118,482 shares of company stock valued at $2,061,855. Corporate insiders own 23.27% of the company’s stock.

Institutional Trading of Bridgewater Bancshares

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position in shares of Bridgewater Bancshares by 78.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,385 shares of the company’s stock valued at $38,000 after buying an additional 1,046 shares during the last quarter. CWM LLC grew its holdings in shares of Bridgewater Bancshares by 182.1% during the second quarter. CWM LLC now owns 2,463 shares of the company’s stock worth $39,000 after purchasing an additional 1,590 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Bridgewater Bancshares by 253.6% during the fourth quarter. State of Alaska Department of Revenue now owns 3,851 shares of the company’s stock worth $67,000 after purchasing an additional 2,762 shares in the last quarter. Palouse Capital Management Inc. purchased a new stake in shares of Bridgewater Bancshares in the 3rd quarter valued at about $113,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Bridgewater Bancshares in the 1st quarter valued at about $178,000. Hedge funds and other institutional investors own 65.83% of the company’s stock.

Bridgewater Bancshares Company Profile

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.