Bridgewater Bancshares (NASDAQ:BWB) Sets New 52-Week High – What’s Next?

Shares of Bridgewater Bancshares, Inc. (NASDAQ:BWB) hit a new 52-week high during trading on Monday . The stock traded as high as $21.84 and last traded at $21.4160, with a volume of 163439 shares. The stock had previously closed at $21.46.

Analyst Ratings Changes

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

Bridgewater Bancshares Price Performance

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 stock has a market capitalization of $591.06 million, a P/E ratio of 12.02 and a beta of 0.57. The company has a fifty day simple moving average of $19.24 and a two-hundred day simple moving average of $18.67.

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 the consensus estimate of $0.42 by ($0.01). The business had revenue of $38.96 million during the quarter, compared to the consensus estimate of $36.93 million. Bridgewater Bancshares had a net margin of 17.69% and a return on equity of 11.06%. Sell-side analysts expect that Bridgewater Bancshares, Inc. will post 1.85 EPS for the current fiscal year.

Insider Transactions at Bridgewater Bancshares

In other news, insider Nicholas L. Place sold 4,688 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $19.27, for a total value of $90,337.76. Following the transaction, the insider owned 139,622 shares of the company’s stock, valued at $2,690,515.94. This represents a 3.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey D. Shellberg sold 20,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $18.55, for a total value of $371,000.00. Following the completion of the transaction, the director owned 25,000 shares in the company, valued at $463,750. This represents a 44.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 62,375 shares of company stock valued at $1,161,104. 23.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bridgewater Bancshares

Several hedge funds have recently added to or reduced their stakes in BWB. AQR Capital Management LLC acquired a new position in shares of Bridgewater Bancshares during the 1st quarter worth about $178,000. Empowered Funds LLC raised its position in shares of Bridgewater Bancshares by 10.1% in the 1st quarter. Empowered Funds LLC now owns 19,170 shares of the company’s stock valued at $266,000 after acquiring an additional 1,752 shares during the period. Jane Street Group LLC bought a new position in Bridgewater Bancshares during the 1st quarter worth approximately $357,000. Rhumbline Advisers boosted its stake in Bridgewater Bancshares by 21.3% during the 2nd quarter. Rhumbline Advisers now owns 35,416 shares of the company’s stock worth $563,000 after acquiring an additional 6,230 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Bridgewater Bancshares by 87.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 217,530 shares of the company’s stock valued at $3,461,000 after purchasing an additional 101,628 shares during the period. Institutional investors and hedge funds own 65.83% of the company’s stock.

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.