Bridgewater Bancshares (NASDAQ:BWB) Stock Price Breaks Above Fifty Day Moving Average – Here’s Why

Bridgewater Bancshares, Inc. (NASDAQ:BWB)’s stock price passed 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 equities analysts recently weighed in on BWB shares. Weiss Ratings reissued a “buy (b+)” rating on shares of Bridgewater Bancshares in a research note on Monday, September 14th. Stephens upgraded Bridgewater Bancshares from an “equal weight” rating to an “overweight” rating and set a $25.00 price objective on the stock in a report on Thursday, August 6th. Finally, Piper Sandler upped their price objective 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. Four research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Bridgewater Bancshares currently has a consensus rating of “Buy” and an average price target of $23.67.

Bridgewater Bancshares Price Performance

The stock has a fifty day moving average price of $20.66 and a 200-day moving average price of $19.80. The company has a market cap of $579.05 million, a PE ratio of 10.60 and a beta of 0.63. 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 issued 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 return on equity of 11.60% and a net margin of 19.27%. The business had revenue of $43.23 million during the quarter, compared to analysts’ expectations of $43.20 million. On average, equities analysts expect that Bridgewater Bancshares, Inc. will post 1.83 earnings per share for the current year.

Insider Activity

In other Bridgewater Bancshares news, Director David B. Juran sold 25,000 shares of Bridgewater Bancshares stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $21.74, for a total transaction of $543,500.00. Following the transaction, the director owned 81,301 shares of the company’s stock, valued at $1,767,483.74. The trade was a 23.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Joseph M. Chybowski sold 9,651 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $20.43, for a total value of $197,169.93. Following the completion of the transaction, the chief financial officer owned 108,850 shares in the company, valued at $2,223,805.50. This represents a 8.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 131,132 shares of company stock valued at $2,773,869 in the last ninety days. Corporate insiders own 23.10% of the company’s stock.

Institutional Trading of Bridgewater Bancshares

A number of hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. acquired a new position in Bridgewater Bancshares in the 2nd quarter valued at approximately $32,000. Legal & General Group Plc acquired a new stake in shares of Bridgewater Bancshares during the 2nd quarter valued at $45,000. NewEdge Advisors LLC acquired a new stake in shares of Bridgewater Bancshares during the 1st quarter valued at $263,000. Cetera Investment Advisers grew its holdings in shares of 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 acquiring an additional 1,059 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Bridgewater Bancshares by 64.9% during the 1st quarter. Sei Investments Co. now owns 17,858 shares of the company’s stock valued at $316,000 after acquiring an additional 7,031 shares in the last quarter. 65.83% of the stock is owned by hedge funds and other institutional investors.

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.