Bridgewater Bancshares (NASDAQ:BWB) Hits New 1-Year High – Here’s Why

Bridgewater Bancshares, Inc. (NASDAQ:BWB) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $19.37 and last traded at $19.3550, with a volume of 24118 shares traded. The stock had previously closed at $18.99.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BWB shares. Weiss Ratings restated a “hold (c+)” rating on shares of Bridgewater Bancshares in a research note on Wednesday. Stephens initiated coverage on shares of Bridgewater Bancshares in a research note on Wednesday, December 10th. They issued an “equal weight” rating and a $20.00 price objective on the stock. Finally, DA Davidson reissued a “buy” rating and set a $21.00 price objective on shares of Bridgewater Bancshares in a report on Wednesday, October 22nd. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Bridgewater Bancshares presently has a consensus rating of “Hold” and an average price target of $20.33.

Bridgewater Bancshares Stock Down 4.7%

The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $502.78 million, a price-to-earnings ratio of 13.71 and a beta of 0.64. The firm’s fifty day simple moving average is $17.89 and its 200 day simple moving average is $17.01.

Bridgewater Bancshares (NASDAQ:BWB) last released its quarterly earnings data on Tuesday, October 21st. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). Bridgewater Bancshares had a net margin of 14.52% and a return on equity of 10.27%. The company had revenue of $36.09 million during the quarter, compared to analyst estimates of $34.20 million. On average, sell-side analysts forecast that Bridgewater Bancshares, Inc. will post 1.38 earnings per share for the current year.

Insider Buying and Selling at Bridgewater Bancshares

In other Bridgewater Bancshares news, EVP Mary Jayne Crocker sold 8,957 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $16.75, for a total transaction of $150,029.75. Following the completion of the sale, the executive vice president owned 203,105 shares of the company’s stock, valued at approximately $3,402,008.75. This represents a 4.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David J. Volk purchased 13,470 shares of the stock in a transaction on Monday, October 27th. The shares were purchased at an average price of $17.46 per share, with a total value of $235,186.20. Following the acquisition, the director owned 30,582 shares in the company, valued at approximately $533,961.72. The trade was a 78.72% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 127,921 shares of company stock worth $2,222,413 over the last 90 days. 23.27% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BWB. Gator Capital Management LLC increased its stake in shares of Bridgewater Bancshares by 0.7% during the 3rd quarter. Gator Capital Management LLC now owns 101,005 shares of the company’s stock worth $1,778,000 after purchasing an additional 680 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Bridgewater Bancshares by 78.1% during the second quarter. BNP Paribas Financial Markets now owns 2,385 shares of the company’s stock valued at $38,000 after purchasing an additional 1,046 shares during the period. First Trust Advisors LP increased its position in Bridgewater Bancshares by 6.3% in the second quarter. First Trust Advisors LP now owns 17,826 shares of the company’s stock worth $284,000 after buying an additional 1,050 shares during the last quarter. Sippican Capital Advisors increased its position in Bridgewater Bancshares by 1.5% in the second quarter. Sippican Capital Advisors now owns 97,610 shares of the company’s stock worth $1,553,000 after buying an additional 1,400 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in shares of Bridgewater Bancshares by 1.6% in the third quarter. Two Sigma Investments LP now owns 92,884 shares of the company’s stock valued at $1,635,000 after buying an additional 1,431 shares during the period. 65.83% of the stock is owned by institutional investors and hedge funds.

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.