Bridgewater Bancshares (NASDAQ:BWB) Cut to Strong Sell at Zacks Investment Research

Zacks Investment Research cut shares of Bridgewater Bancshares (NASDAQ:BWB) from a hold rating to a strong sell rating in a research note issued to investors on Thursday, Zacks.com reports.

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, residential interim construction, lot, 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. “

BWB has been the topic of a number of other research reports. ValuEngine downgraded Bridgewater Bancshares from a sell rating to a strong sell rating in a research report on Wednesday. B. Riley reissued a buy rating and set a $16.00 price target on shares of Bridgewater Bancshares in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $15.50.

Shares of NASDAQ:BWB traded down $0.54 during midday trading on Thursday, reaching $9.06. The company had a trading volume of 42,405 shares, compared to its average volume of 110,761. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average price is $11.89 and its 200 day moving average price is $12.51. The stock has a market cap of $278.14 million, a PE ratio of 8.63 and a beta of 0.94. Bridgewater Bancshares has a 1-year low of $7.99 and a 1-year high of $13.90.

Bridgewater Bancshares (NASDAQ:BWB) last released its earnings results on Thursday, January 23rd. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The business had revenue of $21.04 million for the quarter, compared to the consensus estimate of $20.06 million. Bridgewater Bancshares had a return on equity of 13.34% and a net margin of 29.18%. On average, research analysts expect that Bridgewater Bancshares will post 0.99 earnings per share for the current fiscal year.

In related news, CEO Jerry J. Baack purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was acquired at an average cost of $10.07 per share, for a total transaction of $50,350.00. Insiders own 18.54% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in BWB. Thrivent Financial for Lutherans raised its position in Bridgewater Bancshares by 49.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,134,592 shares of the company’s stock valued at $15,635,000 after purchasing an additional 374,281 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Bridgewater Bancshares by 52.1% during the fourth quarter. Renaissance Technologies LLC now owns 607,747 shares of the company’s stock worth $8,375,000 after buying an additional 208,161 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Bridgewater Bancshares during the fourth quarter worth $1,811,000. Seizert Capital Partners LLC acquired a new position in shares of Bridgewater Bancshares during the fourth quarter worth $1,758,000. Finally, John W. Rosenthal Capital Management Inc. increased its holdings in shares of Bridgewater Bancshares by 287.9% during the fourth quarter. John W. Rosenthal Capital Management Inc. now owns 135,364 shares of the company’s stock worth $1,865,000 after buying an additional 100,464 shares in the last quarter. Institutional investors and hedge funds own 46.86% of the company’s stock.

Bridgewater Bancshares Company Profile

Bridgewater Bancshares, Inc operates as the bank holding company for Bridgewater Bank that provides banking products and services to commercial real estate investors, small business entrepreneurs, and high-net-worth individuals in the United States. It offers demand, savings and money market, time, interest and noninterest bearing transaction, and brokered deposits, as well as certificates of deposit.

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