DA Davidson Reiterates Buy Rating for Bridgewater Bancshares (NASDAQ:BWB)

Bridgewater Bancshares (NASDAQ:BWB)‘s stock had its “buy” rating reissued by research analysts at DA Davidson in a research note issued to investors on Thursday,Benzinga reports. They presently have a $18.00 price target on the stock. DA Davidson’s price objective would suggest a potential upside of 25.05% from the company’s current price.

Bridgewater Bancshares Price Performance

Shares of NASDAQ:BWB traded up $0.69 during trading on Thursday, hitting $14.39. 15,672 shares of the company’s stock were exchanged, compared to its average volume of 57,384. The business’s 50-day simple moving average is $14.06 and its 200 day simple moving average is $14.08. The company has a market cap of $394.83 million, a price-to-earnings ratio of 13.71 and a beta of 0.68. Bridgewater Bancshares has a 52-week low of $10.52 and a 52-week high of $16.00. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.02 and a quick ratio of 1.02.

Bridgewater Bancshares (NASDAQ:BWB) last released its quarterly earnings data on Wednesday, January 29th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. Bridgewater Bancshares had a net margin of 13.54% and a return on equity of 9.02%. As a group, equities analysts predict that Bridgewater Bancshares will post 1 EPS for the current year.

Insider Activity at Bridgewater Bancshares

In other news, Director Thomas P. Trutna sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $15.13, for a total value of $30,260.00. Following the completion of the sale, the director now directly owns 100,780 shares of the company’s stock, valued at $1,524,801.40. This trade represents a 1.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Joseph M. Chybowski sold 3,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $15.51, for a total value of $46,530.00. Following the sale, the chief financial officer now owns 98,416 shares in the company, valued at $1,526,432.16. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,455 shares of company stock valued at $233,903. Insiders own 23.21% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BWB. Foundry Partners LLC increased its position in Bridgewater Bancshares by 111.7% during the 3rd quarter. Foundry Partners LLC now owns 167,010 shares of the company’s stock valued at $2,367,000 after purchasing an additional 88,110 shares during the period. Assenagon Asset Management S.A. increased its holdings in Bridgewater Bancshares by 121.9% during the third quarter. Assenagon Asset Management S.A. now owns 70,025 shares of the company’s stock valued at $992,000 after buying an additional 38,461 shares during the period. Dimensional Fund Advisors LP raised its stake in Bridgewater Bancshares by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 789,993 shares of the company’s stock worth $9,171,000 after buying an additional 37,090 shares in the last quarter. Barclays PLC lifted its holdings in Bridgewater Bancshares by 283.4% during the third quarter. Barclays PLC now owns 25,997 shares of the company’s stock worth $369,000 after buying an additional 19,217 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Bridgewater Bancshares by 169.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 30,562 shares of the company’s stock valued at $433,000 after acquiring an additional 19,201 shares during the period. 65.83% of the stock is currently 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.