Bridgewater Bancshares (NASDAQ:BWB) Announces Earnings Results

Bridgewater Bancshares (NASDAQ:BWB) posted its earnings results on Tuesday. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02, FiscalAI reports. The firm had revenue of $43.23 million during the quarter, compared to analyst estimates of $43.20 million. Bridgewater Bancshares had a net margin of 18.38% and a return on equity of 11.21%.

Bridgewater Bancshares Price Performance

Bridgewater Bancshares stock traded up $0.28 during trading hours on Tuesday, hitting $20.61. 101,371 shares of the company traded hands, compared to its average volume of 117,804. The firm has a market cap of $574.61 million, a P/E ratio of 11.20 and a beta of 0.63. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.90. The firm’s 50-day simple moving average is $21.06 and its two-hundred day simple moving average is $20.18. Bridgewater Bancshares has a 1-year low of $16.06 and a 1-year high of $22.62.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Piper Sandler raised their price target on shares of Bridgewater Bancshares from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Stephens raised Bridgewater Bancshares from an “equal weight” rating to an “overweight” rating and set a $25.00 price target on the stock in a report on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Bridgewater Bancshares in a report on Monday, September 14th. Four analysts have rated the stock with a Buy rating. According to MarketBeat, Bridgewater Bancshares currently has an average rating of “Buy” and an average target price of $23.67.

Insider Activity at Bridgewater Bancshares

In other news, Director Douglas Parish sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $21.38, for a total value of $85,520.00. Following the completion of the sale, the director directly owned 4,107 shares of the company’s stock, valued at approximately $87,807.66. This represents a 49.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary Crocker sold 11,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $21.04, for a total transaction of $231,440.00. Following the completion of the transaction, the director owned 224,384 shares of the company’s stock, valued at $4,721,039.36. This trade represents a 4.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 319,726 shares of company stock worth $6,800,586 in the last three months. Insiders own 23.10% of the company’s stock.

Bridgewater Bancshares Company Profile

Bridgewater Bancshares, Inc is the bank holding company for Bridgewater Bank, a community-focused commercial bank headquartered in St. Louis Park, Minnesota. Founded in 2005, the company serves businesses, real estate professionals, entrepreneurs and individuals primarily in the Minneapolis–St. Paul metropolitan area and surrounding markets.

Bridgewater Bank provides commercial and consumer banking products, including commercial real estate loans, commercial and industrial financing, residential real estate lending, construction and development loans, personal and business deposit accounts, cash-management services and online banking.