Bridgewater Bancshares’ (BWB) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Bridgewater Bancshares (NASDAQ:BWB) in a report published on Friday, Benzinga reports. They currently have a $14.00 price target on the stock, down from their previous price target of $14.50.

Several other analysts also recently weighed in on BWB. TheStreet downgraded Bridgewater Bancshares from a b- rating to a c+ rating in a report on Monday, March 11th. DA Davidson upped their target price on shares of Bridgewater Bancshares from $15.00 to $16.00 and gave the company a buy rating in a report on Friday, January 26th. Finally, Hovde Group started coverage on Bridgewater Bancshares in a research report on Monday, March 4th. They issued an outperform rating on the stock.

Bridgewater Bancshares Stock Performance

NASDAQ:BWB opened at $11.75 on Friday. The firm has a market capitalization of $325.59 million, a PE ratio of 10.40 and a beta of 0.65. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.03 and a quick ratio of 1.03. The business’s fifty day moving average price is $11.61 and its 200 day moving average price is $11.47. Bridgewater Bancshares has a 12 month low of $7.90 and a 12 month high of $14.43.

Bridgewater Bancshares (NASDAQ:BWB) last issued its quarterly earnings data on Wednesday, January 24th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.02. Bridgewater Bancshares had a net margin of 15.37% and a return on equity of 10.32%. The business had revenue of $26.72 million during the quarter, compared to the consensus estimate of $26.70 million. On average, sell-side analysts anticipate that Bridgewater Bancshares will post 1.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jerry J. Baack sold 15,687 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $13.11, for a total transaction of $205,656.57. Following the transaction, the chief executive officer now directly owns 1,237,351 shares in the company, valued at $16,221,671.61. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Jerry J. Baack sold 15,687 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $13.11, for a total value of $205,656.57. Following the completion of the sale, the chief executive officer now directly owns 1,237,351 shares of the company’s stock, valued at approximately $16,221,671.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James S. Johnson sold 12,590 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $11.62, for a total value of $146,295.80. Following the transaction, the director now directly owns 94,063 shares in the company, valued at approximately $1,093,012.06. The disclosure for this sale can be found here. 23.21% of the stock is owned by insiders.

Institutional Trading of Bridgewater Bancshares

A number of institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund boosted its position in Bridgewater Bancshares by 28.4% during the fourth quarter. New York State Common Retirement Fund now owns 4,074 shares of the company’s stock worth $55,000 after purchasing an additional 900 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Bridgewater Bancshares by 6.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 35,016 shares of the company’s stock valued at $408,000 after acquiring an additional 2,070 shares during the last quarter. BHZ Capital Management LP raised its position in Bridgewater Bancshares by 8.2% during the fourth quarter. BHZ Capital Management LP now owns 48,132 shares of the company’s stock worth $651,000 after acquiring an additional 3,663 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Bridgewater Bancshares by 300.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,861 shares of the company’s stock valued at $79,000 after purchasing an additional 4,396 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Bridgewater Bancshares during the 4th quarter worth approximately $157,000. Hedge funds and other institutional investors own 65.83% of the company’s stock.

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.