Bridgewater Bancshares (NASDAQ:BWB) Sees Large Volume Increase – Still a Buy?

Bridgewater Bancshares, Inc. (NASDAQ:BWB) shares saw unusually-strong trading volume on Wednesday . Approximately 107,138 shares were traded during trading, an increase of 20% from the previous session’s volume of 89,375 shares.The stock last traded at $20.6920 and had previously closed at $20.44.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BWB. DA Davidson reaffirmed a “buy” rating and set a $22.00 price target on shares of Bridgewater Bancshares in a research note on Wednesday, April 22nd. Weiss Ratings upgraded Bridgewater Bancshares from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, June 18th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Bridgewater Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $21.67.

Bridgewater Bancshares Stock Up 1.2%

The firm has a market capitalization of $576.84 million, a price-to-earnings ratio of 11.69 and a beta of 0.58. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.96. The firm has a 50 day moving average price of $18.88 and a two-hundred day moving average price of $18.51.

Bridgewater Bancshares (NASDAQ:BWB) last issued its earnings results on Tuesday, April 21st. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The firm had revenue of $38.96 million for the quarter, compared to analysts’ expectations of $36.93 million. Bridgewater Bancshares had a return on equity of 11.06% and a net margin of 17.69%. On average, equities analysts expect that Bridgewater Bancshares, Inc. will post 1.85 earnings per share for the current fiscal year.

Insider Activity at Bridgewater Bancshares

In other news, CFO Joseph M. Chybowski sold 7,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $18.96, for a total value of $132,720.00. Following the completion of the sale, the chief financial officer owned 118,501 shares of the company’s stock, valued at $2,246,778.96. This represents a 5.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Lisa M. Salazar sold 4,162 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $18.55, for a total transaction of $77,205.10. Following the completion of the transaction, the chief operating officer directly owned 36,077 shares in the company, valued at approximately $669,228.35. This represents a 10.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 62,375 shares of company stock valued at $1,161,104 over the last quarter. Company insiders own 23.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BWB. Alliancebernstein L.P. boosted its position in shares of Bridgewater Bancshares by 181.8% in the third quarter. Alliancebernstein L.P. now owns 1,282,210 shares of the company’s stock worth $22,567,000 after buying an additional 827,141 shares during the period. Vanguard Group Inc. raised its holdings in shares of Bridgewater Bancshares by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,154,890 shares of the company’s stock valued at $20,326,000 after buying an additional 25,566 shares during the period. Dimensional Fund Advisors LP lifted its position in Bridgewater Bancshares by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,058,471 shares of the company’s stock worth $18,735,000 after acquiring an additional 25,899 shares in the last quarter. Geode Capital Management LLC lifted its position in Bridgewater Bancshares by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 496,116 shares of the company’s stock worth $8,699,000 after acquiring an additional 15,192 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. boosted its holdings in Bridgewater Bancshares by 1.2% in the 4th quarter. Punch & Associates Investment Management Inc. now owns 438,960 shares of the company’s stock worth $7,695,000 after acquiring an additional 5,000 shares during the period. 65.83% of the stock is owned by hedge funds and other institutional investors.

About Bridgewater Bancshares

Bridgewater Bancshares, Inc is the bank holding company for Bridgewater Bank, a New Jersey-chartered community bank founded in 2006. Headquartered in Bridgewater, New Jersey, the company provides a broad array of financial services designed to meet the needs of both individual and business customers. As a locally focused institution, Bridgewater Bancshares emphasizes relationship banking, combining personalized service with the efficiency of modern banking technologies.

The company’s retail banking platform offers checking and savings accounts, certificates of deposit, money market accounts and consumer loan products.