Bridgewater Bancshares (NASDAQ:BWB) Reaches New 12-Month High – Still a Buy?

Bridgewater Bancshares, Inc. (NASDAQ:BWB)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $22.62 and last traded at $22.4220, with a volume of 114690 shares trading hands. The stock had previously closed at $22.01.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Stephens upgraded Bridgewater Bancshares from an “equal weight” rating to an “overweight” rating and set a $25.00 target price on the stock in a research note on Thursday, August 6th. Weiss Ratings upgraded Bridgewater Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, June 18th. DA Davidson reissued a “buy” rating and set a $22.00 price objective on shares of Bridgewater Bancshares in a report on Wednesday, April 22nd. Finally, Piper Sandler boosted their price objective 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 issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $23.67.

Bridgewater Bancshares Stock Performance

The company’s 50-day moving average price is $20.81 and its two-hundred day moving average price is $19.29. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $622.84 million, a PE ratio of 12.13 and a beta of 0.57.

Bridgewater Bancshares (NASDAQ:BWB) last posted 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 during the quarter, compared to the consensus estimate of $41.43 million. On average, equities research analysts forecast that Bridgewater Bancshares, Inc. will post 1.85 EPS for the current year.

Insider Activity

In other news, Director Mary Jayne Crocker sold 11,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $21.04, for a total value of $231,440.00. Following the completion of the transaction, the director directly owned 224,384 shares in the company, valued at approximately $4,721,039.36. This represents a 4.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jerry J. Baack sold 11,334 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $20.91, for a total value of $236,993.94. Following the transaction, the chief executive officer owned 1,158,769 shares in the company, valued at $24,229,859.79. This trade represents a 0.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 276,458 shares of company stock valued at $5,730,958. 23.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bleakley Financial Group LLC purchased a new position in shares of Bridgewater Bancshares during the first quarter worth approximately $1,535,000. Hillsdale Investment Management Inc. grew its holdings in shares of Bridgewater Bancshares by 39.3% during the 4th quarter. Hillsdale Investment Management Inc. now owns 212,860 shares of the company’s stock valued at $3,731,000 after purchasing an additional 60,000 shares during the last quarter. Empowered Funds LLC raised its position in Bridgewater Bancshares by 79.8% in the 1st quarter. Empowered Funds LLC now owns 92,109 shares of the company’s stock worth $1,630,000 after purchasing an additional 40,890 shares during the period. Dimensional Fund Advisors LP lifted its stake in Bridgewater Bancshares by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,058,471 shares of the company’s stock worth $18,735,000 after purchasing an additional 25,899 shares during the last quarter. Finally, Hodges Capital Management Inc. bought a new stake in Bridgewater Bancshares in the fourth quarter worth $3,862,000. 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.