Bridgewater Bancshares’ (BWB) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler restated their overweight rating on shares of Bridgewater Bancshares (NASDAQ:BWB) in a research report released on Friday morning, Benzinga reports. They currently have a $14.00 target price on the stock, down from their previous target price of $14.50.

Several other analysts have also recently issued reports on the company. DA Davidson boosted their price target on Bridgewater Bancshares from $15.00 to $16.00 and gave the company a buy rating in a report on Friday, January 26th. Hovde Group began coverage on Bridgewater Bancshares in a research report on Monday, March 4th. They set an outperform rating on the stock. Finally, TheStreet lowered Bridgewater Bancshares from a b- rating to a c+ rating in a research report on Monday, March 11th.

Bridgewater Bancshares Price Performance

BWB opened at $11.75 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s 50 day simple moving average is $11.61 and its 200 day simple moving average is $11.47. The firm has a market cap of $325.59 million, a price-to-earnings ratio of 10.40 and a beta of 0.65. Bridgewater Bancshares has a 1 year low of $7.90 and a 1 year high of $14.43.

Bridgewater Bancshares (NASDAQ:BWB) last issued its earnings results on Wednesday, January 24th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. The company had revenue of $26.72 million for the quarter, compared to the consensus estimate of $26.70 million. Bridgewater Bancshares had a net margin of 15.37% and a return on equity of 10.32%. As a group, analysts predict that Bridgewater Bancshares will post 1.13 earnings per share for the current year.

Insider Buying and Selling at Bridgewater Bancshares

In other news, CEO Jerry J. Baack sold 15,687 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $13.11, for a total transaction of $205,656.57. Following the completion of the transaction, the chief executive officer now directly owns 1,237,351 shares in the company, valued at $16,221,671.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director James S. Johnson sold 12,590 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $11.62, for a total value of $146,295.80. Following the transaction, the director now directly owns 94,063 shares of the company’s stock, valued at approximately $1,093,012.06. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jerry J. Baack sold 15,687 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $13.11, for a total value of $205,656.57. Following the sale, the chief executive officer now directly owns 1,237,351 shares of the company’s stock, valued at approximately $16,221,671.61. The disclosure for this sale can be found here. 23.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bridgewater Bancshares

Large investors have recently made changes to their positions in the business. New York State Common Retirement Fund raised its stake in Bridgewater Bancshares by 28.4% during the 4th quarter. New York State Common Retirement Fund now owns 4,074 shares of the company’s stock valued at $55,000 after purchasing an additional 900 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Bridgewater Bancshares by 300.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,861 shares of the company’s stock worth $79,000 after acquiring an additional 4,396 shares during the last quarter. SG Americas Securities LLC purchased a new position in Bridgewater Bancshares during the fourth quarter valued at $157,000. Quadrature Capital Ltd purchased a new position in Bridgewater Bancshares during the fourth quarter valued at $406,000. Finally, Strs Ohio increased its holdings in Bridgewater Bancshares by 212.4% in the 3rd quarter. Strs Ohio now owns 32,800 shares of the company’s stock valued at $310,000 after acquiring an additional 22,300 shares during the last quarter. 65.83% of the stock is currently owned by hedge funds and other institutional investors.

About Bridgewater Bancshares

Bridgewater Bancshares, Inc operates as the bank holding company for Bridgewater Bank that provides banking products and services to commercial real estate investors, entrepreneurs, business clients, and individuals in the United States. The company provides savings and money market accounts, demand deposits, time and brokered deposits, and interest and noninterest bearing transaction, as well as certificates of deposit.