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

Bridgewater Bancshares, Inc. (NASDAQ:BWB)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $20.31 and last traded at $20.2850, with a volume of 102101 shares changing hands. The stock had previously closed at $19.93.

Wall Street Analyst Weigh In

BWB has been the topic of a number of recent research reports. DA Davidson reissued a “buy” rating and issued a $22.00 target price 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 research note on Thursday. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.67.

Bridgewater Bancshares Trading Up 2.4%

The business’s 50 day simple moving average is $18.85 and its 200 day simple moving average is $18.49. The stock has a market cap of $569.03 million, a price-to-earnings ratio of 11.53 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 released its quarterly earnings data on Tuesday, April 21st. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). The firm had revenue of $38.96 million for the quarter, compared to analyst estimates of $36.93 million. Bridgewater Bancshares had a return on equity of 11.06% and a net margin of 17.69%. On average, research analysts expect that Bridgewater Bancshares, Inc. will post 1.85 EPS for the current fiscal year.

Insider Transactions at Bridgewater Bancshares

In other news, Director Jeffrey D. Shellberg sold 20,000 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $18.55, for a total value of $371,000.00. Following the transaction, the director directly owned 25,000 shares of the company’s stock, valued at $463,750. This represents a 44.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary Jayne Crocker sold 6,525 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $18.50, for a total transaction of $120,712.50. Following the sale, the director owned 209,502 shares of the company’s stock, valued at approximately $3,875,787. This represents a 3.02% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 62,375 shares of company stock valued at $1,161,104. Corporate insiders own 23.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased 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 acquiring an additional 827,141 shares during the last quarter. Hodges Capital Management Inc. acquired a new position in Bridgewater Bancshares in the 4th quarter worth about $3,862,000. Ancora Advisors LLC acquired a new position in Bridgewater Bancshares in the 3rd quarter worth about $3,426,000. Hillsdale Investment Management Inc. bought a new position in Bridgewater Bancshares in the third quarter valued at about $2,690,000. Finally, Curi Capital LLC acquired a new stake in shares of Bridgewater Bancshares during the second quarter valued at about $2,029,000. 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.