Bridgewater Bancshares (NASDAQ:BWB) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Bridgewater Bancshares (NASDAQ:BWB) announced its earnings results on Tuesday. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02), Zacks reports. Bridgewater Bancshares had a return on equity of 10.46% and a net margin of 14.52%.The business had revenue of $36.09 million for the quarter, compared to analyst estimates of $34.20 million.

Bridgewater Bancshares Stock Performance

NASDAQ BWB opened at $16.90 on Thursday. The firm has a 50-day moving average of $16.76 and a 200-day moving average of $15.71. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $464.41 million, a PE ratio of 12.71 and a beta of 0.59. Bridgewater Bancshares has a 52-week low of $11.93 and a 52-week high of $18.01.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BWB shares. DA Davidson reissued a “buy” rating and issued a $21.00 price objective on shares of Bridgewater Bancshares in a research report on Wednesday. Weiss Ratings reissued a “hold (c+)” rating on shares of Bridgewater Bancshares in a research report on Wednesday, October 8th. Zacks Research downgraded shares of Bridgewater Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. Finally, Piper Sandler lifted their price objective on shares of Bridgewater Bancshares from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Bridgewater Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Insider Activity at Bridgewater Bancshares

In other news, EVP Jeffrey D. Shellberg sold 6,040 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $16.09, for a total transaction of $97,183.60. Following the completion of the sale, the executive vice president owned 317,390 shares in the company, valued at approximately $5,106,805.10. This trade represents a 1.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas P. Trutna sold 6,152 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $16.40, for a total transaction of $100,892.80. Following the sale, the director owned 94,496 shares of the company’s stock, valued at approximately $1,549,734.40. This represents a 6.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,298 shares of company stock worth $1,508,238 in the last quarter. 23.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bridgewater Bancshares

A number of hedge funds have recently bought and sold shares of BWB. BNP Paribas Financial Markets increased its position in Bridgewater Bancshares by 78.1% during the second quarter. BNP Paribas Financial Markets now owns 2,385 shares of the company’s stock worth $38,000 after acquiring an additional 1,046 shares during the period. AQR Capital Management LLC bought a new position in Bridgewater Bancshares during the first quarter worth about $178,000. Quantinno Capital Management LP bought a new position in Bridgewater Bancshares during the second quarter worth about $259,000. Empowered Funds LLC increased its position in Bridgewater Bancshares by 10.1% during the first quarter. Empowered Funds LLC now owns 19,170 shares of the company’s stock worth $266,000 after acquiring an additional 1,752 shares during the period. Finally, First Trust Advisors LP increased its position in Bridgewater Bancshares by 6.3% during the second quarter. First Trust Advisors LP now owns 17,826 shares of the company’s stock worth $284,000 after acquiring an additional 1,050 shares during the period. 65.83% of the stock is owned by institutional investors.

About Bridgewater Bancshares

Bridgewater Bancshares, Inc operates as the bank holding company for Bridgewater Bank that provides banking products and services to commercial real estate investors, entrepreneurs, business clients, and individuals in the United States. The company provides savings and money market accounts, demand deposits, time and brokered deposits, and interest and noninterest bearing transaction, as well as certificates of deposit.