Bridgewater Bancshares (NASDAQ:BWB) Releases Earnings Results, Misses Expectations By $0.01 EPS

Bridgewater Bancshares (NASDAQ:BWB) announced its earnings results on Tuesday. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01), FiscalAI reports. Bridgewater Bancshares had a net margin of 17.69% and a return on equity of 11.06%. The business had revenue of $40.89 million during the quarter, compared to the consensus estimate of $41.43 million.

Bridgewater Bancshares Price Performance

Shares of NASDAQ:BWB traded down $0.06 during trading on Tuesday, reaching $21.89. 149,631 shares of the company traded hands, compared to its average volume of 109,715. 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 has a 52 week low of $14.90 and a 52 week high of $22.59. The firm has a market capitalization of $610.29 million, a PE ratio of 12.37 and a beta of 0.57. The company’s 50 day moving average is $19.96 and its two-hundred day moving average is $18.93.

Analyst Upgrades and Downgrades

BWB has been the topic of a number of recent research reports. DA Davidson reaffirmed a “buy” rating and set a $22.00 price target on shares of Bridgewater Bancshares in a research report 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 investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.67.

Insider Activity at Bridgewater Bancshares

In other Bridgewater Bancshares news, insider Nicholas L. Place sold 4,688 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $19.27, for a total transaction of $90,337.76. Following the completion of the sale, the insider directly owned 139,622 shares in the company, valued at $2,690,515.94. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey D. Shellberg sold 20,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $18.55, for a total value of $371,000.00. Following the completion of the sale, the director directly owned 25,000 shares in the company, valued at approximately $463,750. This represents a 44.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 62,375 shares of company stock worth $1,161,104 in the last 90 days. Corporate insiders own 23.10% of the company’s stock.

Institutional Trading of Bridgewater Bancshares

Several institutional investors and hedge funds have recently modified their holdings of the business. Alliancebernstein L.P. boosted its stake in Bridgewater Bancshares by 181.8% in the third quarter. Alliancebernstein L.P. now owns 1,282,210 shares of the company’s stock valued at $22,567,000 after buying an additional 827,141 shares in the last quarter. Ancora Advisors LLC bought a new position in shares of Bridgewater Bancshares in the third quarter worth about $3,426,000. Curi Capital LLC bought a new position in shares of Bridgewater Bancshares in the second quarter worth about $2,029,000. Mendon Capital Advisors Corp acquired a new stake in shares of Bridgewater Bancshares in the 2nd quarter valued at approximately $2,029,000. Finally, Kennedy Capital Management LLC boosted its stake in shares of Bridgewater Bancshares by 69.6% in the 3rd quarter. Kennedy Capital Management LLC now owns 271,832 shares of the company’s stock valued at $4,784,000 after purchasing an additional 111,592 shares in the last quarter. 65.83% of the stock is currently owned by 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.