Stephens Upgrades Bridgewater Bancshares (NASDAQ:BWB) to “Overweight”

Bridgewater Bancshares (NASDAQ:BWB) was upgraded by research analysts at Stephens from an “equal weight” rating to an “overweight” rating in a report issued on Thursday, Marketbeat.com reports. The brokerage currently has a $25.00 price target on the stock. Stephens’ price objective would indicate a potential upside of 15.53% from the company’s current price.

Several other brokerages have also issued reports on BWB. DA Davidson reiterated a “buy” rating and issued a $22.00 price target on shares of Bridgewater Bancshares in a report on Wednesday, April 22nd. Weiss Ratings raised Bridgewater Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, June 18th. Finally, Piper Sandler increased their target price on Bridgewater Bancshares from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.67.

Bridgewater Bancshares Trading Up 1.9%

BWB opened at $21.64 on Thursday. Bridgewater Bancshares has a 1-year low of $15.35 and a 1-year high of $22.59. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.90. The company has a market cap of $603.32 million, a P/E ratio of 11.76 and a beta of 0.57. The company has a fifty day moving average price of $20.62 and a two-hundred day moving average price of $19.22.

Bridgewater Bancshares (NASDAQ:BWB) last released its quarterly earnings data on Tuesday, July 21st. The company reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. Bridgewater Bancshares had a net margin of 18.38% and a return on equity of 11.21%. The company had revenue of $40.89 million for the quarter, compared to analysts’ expectations of $41.43 million. Analysts predict that Bridgewater Bancshares will post 1.85 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Nicholas L. Place sold 4,688 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $19.27, for a total value of $90,337.76. Following the transaction, the insider owned 139,622 shares of the company’s stock, valued at approximately $2,690,515.94. This trade represents a 3.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey D. Shellberg sold 160,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $21.04, for a total value of $3,366,400.00. Following the sale, the director directly owned 106,187 shares of the company’s stock, valued at $2,234,174.48. This represents a 60.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 236,458 shares of company stock worth $4,880,558 in the last 90 days. Company insiders own 23.10% of the company’s stock.

Institutional Investors Weigh In On Bridgewater Bancshares

Several institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its stake in Bridgewater Bancshares by 78.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,385 shares of the company’s stock valued at $38,000 after acquiring an additional 1,046 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Bridgewater Bancshares by 253.6% in the 4th quarter. State of Alaska Department of Revenue now owns 3,851 shares of the company’s stock worth $67,000 after acquiring an additional 2,762 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Bridgewater Bancshares by 7.8% in the fourth quarter. LPL Financial LLC now owns 11,770 shares of the company’s stock valued at $206,000 after purchasing an additional 855 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Bridgewater Bancshares by 14.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,419 shares of the company’s stock valued at $218,000 after purchasing an additional 1,535 shares during the last quarter. Finally, AQR Capital Management LLC bought a new position in shares of Bridgewater Bancshares during the first quarter valued at about $178,000. 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.