Bridgewater Bancshares (NASDAQ:BWB) lifted to buy from Zacks Investment Research
Bridgewater Bancshares (NASDAQ:BWB – Get Valuation) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report released Tuesday, Zacks.com reports. The company currently has a price target of $18.00 on the stock. Zacks Investment Research’s price target suggests a potential upside of 13.56% from the current stock price.
According to Zacks, “Bridgewater Bancshares Inc. operates as a holding company for Bridgewater Bank which provides personal and commercial banking products and services to commercial real estate investors, small business entrepreneurs and high net worth individuals. The company offers checking, savings, money market savings, certificates of deposit accounts; bridge, home equity, temporary residential construction, land, construction, commercial real estate, long-term multi-family, working capital, letters of credit and executive lines of credit, options and debit and credit cards. Bridgewater Bancshares Inc. is headquartered in Bloomington, Minnesota.”
Separately, B. Riley lowered his price target on Bridgewater Bancshares shares from $23.00 to $21.00 in a Tuesday, April 12 report.
BWB rose $0.15 during midday trading on Tuesday, hitting $15.85. 48,115 shares of the company were traded, against an average volume of 39,774. The company has a market capitalization of $443.40 million, a price-earnings ratio of 10.16 and a beta of 0.71. The company has a quick ratio of 0.99, a current ratio of 0.99 and a leverage ratio of 0.43. Bridgewater Bancshares has a one-year minimum of $14.97 and a one-year maximum of $20.05. The company has a 50-day simple moving average of $16.40 and a two-hundred-day simple moving average of $17.22.
Bridgewater Bancshares (NASDAQ:BWB – Get Rating) last released quarterly earnings data on Thursday, April 28. The company reported earnings per share of $0.39 for the quarter, hitting the consensus estimate of $0.39. Bridgewater Bancshares had a net margin of 33.29% and a return on equity of 15.34%. As a group, research analysts expect Bridgewater Bancshares to post 1.66 EPS for the current financial year.
Separately, CEO Jerry J. Baack sold 4,166 shares of the company in a trade that took place on Wednesday, April 20. The shares were sold at an average price of $16.79, for a total value of $69,947.14. Following the completion of the sale, the CEO now owns 1,207,140 shares of the company, valued at $20,267,880.60. The sale was disclosed in an SEC filing, available on the SEC’s website. Insiders of the company hold 21.97% of the shares of the company.
A number of institutional investors and hedge funds have recently increased or reduced their stake in BWB. Barclays PLC increased its position in shares of Bridgewater Bancshares by 195.5% during the third quarter. Barclays PLC now owns 8,671 shares in the company worth $152,000 after buying an additional 5,737 shares last quarter. Alliancebernstein LP increased its position in Bridgewater Bancshares by 26.7% in the third quarter. Alliancebernstein LP now owns 341,931 shares of the company valued at $5,987,000 after acquiring an additional 72,017 shares last quarter. Citigroup Inc. increased its position in Bridgewater Bancshares by 83.2% in the third quarter. Citigroup Inc. now owns 2,286 shares of the company valued at $40,000 after acquiring 1,038 additional shares in the last quarter. American Century Companies Inc. increased its position in Bridgewater Bancshares by 15.5% in the third quarter. American Century Companies Inc. now owns 55,063 shares of the company valued at $964,000 after acquiring an additional 7,394 shares last quarter. Finally, Geode Capital Management LLC strengthened its position in Bridgewater Bancshares by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 365,603 shares of the company valued at $6,401,000 after acquiring an additional 1,200 shares last quarter. 48.68% of the shares are held by hedge funds and other institutional investors.
About Bridgewater Bancshares (Get an assessment)
Bridgewater Bancshares, Inc operates as a banking holding company for Bridgewater Bank which provides banking products and services to commercial real estate investors, small business entrepreneurs and high net worth individuals in the United States. The Company offers savings and money market accounts, demand deposits, term deposits and traded deposits, interest-bearing and interest-free transactions, and certificates of deposit.
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