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

Bridgewater Bancshares (NASDAQ:BWB) was downgraded by Zacks Investment Research 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 reports. B. Riley restated a “buy” rating and issued a $16.00 price target on shares of Bridgewater Bancshares in a research note on Friday, January 24th. ValuEngine cut Bridgewater Bancshares from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. Bridgewater Bancshares has a consensus rating of “Hold” and a consensus price target of $15.50.

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

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

In related news, CEO Jerry J. Baack purchased 5,000 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were purchased at an average price of $10.07 per share, with a total value of $50,350.00. 18.54% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans boosted its holdings in Bridgewater Bancshares by 49.2% in the 4th 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 boosted its holdings in Bridgewater Bancshares by 52.1% in the 4th quarter. Renaissance Technologies LLC now owns 607,747 shares of the company’s stock valued at $8,375,000 after purchasing an additional 208,161 shares in the last quarter. State Street Corp boosted its holdings in Bridgewater Bancshares by 2.5% in the 4th quarter. State Street Corp now owns 397,407 shares of the company’s stock valued at $5,476,000 after purchasing an additional 9,581 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its holdings in Bridgewater Bancshares by 7.3% in the 4th quarter. Punch & Associates Investment Management Inc. now owns 371,200 shares of the company’s stock valued at $5,115,000 after purchasing an additional 25,127 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Bridgewater Bancshares by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 283,398 shares of the company’s stock valued at $3,905,000 after purchasing an additional 8,461 shares in the last quarter. 46.86% of the stock is currently owned by hedge funds and other institutional investors.

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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