Bridgewater Bancshares (NASDAQ:BWB) Shares Gap Down – Here’s Why

Bridgewater Bancshares, Inc. (NASDAQ:BWB)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $21.89, but opened at $20.77. Bridgewater Bancshares shares last traded at $20.6360, with a volume of 42,637 shares trading hands.

Analysts Set New Price Targets

A number of analysts have weighed in on BWB shares. DA Davidson reaffirmed a “buy” rating and set a $22.00 target price 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 research note on Thursday, June 18th. Finally, Piper Sandler raised their price objective on Bridgewater Bancshares from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

Bridgewater Bancshares Price Performance

The company has a 50 day moving average price of $20.13 and a 200-day moving average price of $19.00. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.96. The company has a market cap of $569.31 million, a price-to-earnings ratio of 11.10 and a beta of 0.57.

Bridgewater Bancshares (NASDAQ:BWB) last posted its earnings results on Tuesday, July 21st. The company reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. Bridgewater Bancshares had a net margin of 18.38% and a return on equity of 11.42%. The business had revenue of $40.89 million for the quarter, compared to the consensus estimate of $41.43 million. As a group, equities research analysts predict that Bridgewater Bancshares, Inc. will post 1.87 EPS for the current fiscal year.

Insider Activity

In related news, insider Nicholas L. Place sold 4,688 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $19.27, for a total value of $90,337.76. Following the sale, the insider owned 139,622 shares of the company’s stock, valued at $2,690,515.94. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mary Jayne Crocker sold 6,525 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $18.50, for a total value of $120,712.50. Following the completion of the sale, the director owned 209,502 shares of the company’s stock, valued at $3,875,787. The trade was a 3.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 62,375 shares of company stock valued at $1,161,104. 23.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bridgewater Bancshares

A number of institutional investors have recently made changes to their positions in the stock. Alliancebernstein L.P. raised its position in shares of Bridgewater Bancshares by 181.8% during the third quarter. Alliancebernstein L.P. now owns 1,282,210 shares of the company’s stock worth $22,567,000 after acquiring an additional 827,141 shares during the last quarter. Hodges Capital Management Inc. bought a new stake in Bridgewater Bancshares in the fourth quarter valued at approximately $3,862,000. Ancora Advisors LLC bought a new stake in Bridgewater Bancshares in the third quarter valued at approximately $3,426,000. Curi Capital LLC acquired a new stake in Bridgewater Bancshares during the 2nd quarter valued at approximately $2,029,000. Finally, Mendon Capital Advisors Corp acquired a new stake in Bridgewater Bancshares during the 2nd quarter valued at approximately $2,029,000. Institutional investors 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.