Bridgewater Bancshares (NASDAQ:BWB) Announces Quarterly Earnings Results

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

Bridgewater Bancshares Trading Up 1.4%

NASDAQ BWB traded up $0.28 during mid-day trading on Tuesday, reaching $20.61. 101,233 shares of the stock were exchanged, compared to its average volume of 117,638. Bridgewater Bancshares has a 1-year low of $16.06 and a 1-year high of $22.62. The business’s fifty day simple moving average is $21.06 and its 200 day simple moving average is $20.18. The stock has a market capitalization of $574.61 million, a PE ratio of 11.20 and a beta of 0.63. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.05 and a current ratio of 1.05.

Analyst Ratings Changes

BWB has been the topic of a number of analyst reports. Stephens raised Bridgewater Bancshares from an “equal weight” rating to an “overweight” rating and set a $25.00 price objective on the stock in a research note on Thursday, August 6th. Piper Sandler boosted their target price 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. Finally, Weiss Ratings restated a “buy (b+)” rating on shares of Bridgewater Bancshares in a report on Monday, September 14th. Four research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Bridgewater Bancshares currently has an average rating of “Buy” and an average price target of $23.67.

Insider Transactions at Bridgewater Bancshares

In other Bridgewater Bancshares news, Director Mary Crocker sold 11,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $21.04, for a total transaction of $231,440.00. Following the transaction, the director owned 224,384 shares of the company’s stock, valued at $4,721,039.36. This represents a 4.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jeffrey D. Shellberg sold 40,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $21.26, for a total value of $850,400.00. Following the sale, the director owned 66,187 shares in the company, valued at $1,407,135.62. This trade represents a 37.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 319,726 shares of company stock worth $6,800,586 in the last three months. 23.10% of the stock is currently owned by company insiders.

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.