Bridgewater Bancshares (NASDAQ:BWB) Shares Break Above Fifty Day Moving Average – Here’s What Happened

Bridgewater Bancshares, Inc. (NASDAQ:BWB) shares crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $20.66 and traded as high as $20.73. Bridgewater Bancshares shares last traded at $20.67, with a volume of 74,279 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BWB shares. 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. Piper Sandler upped their target price on Bridgewater Bancshares from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Bridgewater Bancshares in a research note on Monday, September 14th. Four analysts have rated the stock with a Buy rating. According to MarketBeat.com, Bridgewater Bancshares currently has a consensus rating of “Buy” and a consensus target price of $23.67.

Bridgewater Bancshares Price Performance

The stock has a market capitalization of $579.05 million, a P/E ratio of 10.60 and a beta of 0.63. The stock’s fifty day moving average is $20.66 and its 200-day moving average is $19.80. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.06 and a quick ratio of 1.06.

Bridgewater Bancshares (NASDAQ:BWB) last posted its earnings results on Tuesday, October 20th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.47 by $0.02. Bridgewater Bancshares had a net margin of 19.27% and a return on equity of 11.60%. The firm had revenue of $43.23 million for the quarter, compared to the consensus estimate of $43.20 million. On average, equities analysts anticipate that Bridgewater Bancshares, Inc. will post 1.83 earnings per share for the current year.

Insider Buying and Selling at Bridgewater Bancshares

In related news, Director Douglas J. Parish sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $21.38, for a total value of $85,520.00. Following the transaction, the director directly owned 4,107 shares of the company’s stock, valued at approximately $87,807.66. This trade represents a 49.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jerry J. Baack sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $20.25, for a total value of $405,000.00. Following the completion of the sale, the chief executive officer owned 1,157,769 shares of the company’s stock, valued at approximately $23,444,822.25. This trade represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 131,132 shares of company stock worth $2,773,869 in the last 90 days. Company insiders own 23.10% of the company’s stock.

Institutional Investors Weigh In On Bridgewater Bancshares

A number of large investors have recently added to or reduced their stakes in BWB. Northwestern Mutual Wealth Management Co. acquired a new position in Bridgewater Bancshares during the second quarter valued at approximately $32,000. Legal & General Group Plc acquired a new stake in shares of Bridgewater Bancshares in the second quarter worth $45,000. NewEdge Advisors LLC bought a new stake in shares of Bridgewater Bancshares during the 1st quarter worth $263,000. Cetera Investment Advisers boosted its stake in Bridgewater Bancshares by 6.5% during the 1st quarter. Cetera Investment Advisers now owns 17,235 shares of the company’s stock valued at $305,000 after purchasing an additional 1,059 shares during the period. Finally, Ieq Capital LLC acquired a new position in shares of Bridgewater Bancshares during the second quarter worth approximately $369,000. Institutional investors own 65.83% of the company’s stock.

About Bridgewater Bancshares

Bridgewater Bancshares, Inc. is a bank holding company and the parent of Bridgewater Bank, a community bank headquartered in Minnesota. Founded in 2005, the company focuses primarily on serving businesses, professionals and individuals in the Twin Cities metropolitan area and surrounding Minnesota communities. Bridgewater Bank provides commercial banking services, including commercial real estate and business lending, deposit accounts, and treasury management and cash-management services. It also offers personal banking products and services to individuals and business owners.