Bridgewater Bancshares (NASDAQ:BWB) Lowered to Strong Sell at ValuEngine

Bridgewater Bancshares (NASDAQ:BWB) was downgraded by equities researchers at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Wednesday, ValuEngine reports.

A number of other research firms have also issued reports on BWB. Zacks Investment Research lowered Bridgewater Bancshares from a “buy” rating to a “hold” rating in a report on Tuesday, March 17th. B. Riley reaffirmed a “buy” rating and set a $16.00 target price on shares of Bridgewater Bancshares in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. Bridgewater Bancshares has an average rating of “Hold” and a consensus target price of $15.50.

NASDAQ:BWB traded up $0.18 during mid-day trading on Wednesday, reaching $9.05. 125,900 shares of the stock were exchanged, compared to its average volume of 69,398. The business has a fifty day moving average price of $11.98 and a 200 day moving average price of $12.52. The firm has a market capitalization of $240.77 million, a PE ratio of 8.62 and a beta of 0.94. Bridgewater Bancshares has a 1-year low of $7.99 and a 1-year high of $13.90. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.66.

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, topping analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $21.04 million for the quarter, compared to analyst estimates of $20.06 million. Bridgewater Bancshares had a return on equity of 13.34% and a net margin of 29.18%. On average, sell-side analysts forecast that Bridgewater Bancshares will post 1.08 earnings per share for the current year.

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

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Metropolitan Life Insurance Co NY increased its stake in Bridgewater Bancshares by 18.7% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 8,382 shares of the company’s stock worth $100,000 after purchasing an additional 1,322 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Bridgewater Bancshares by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 132,362 shares of the company’s stock worth $1,824,000 after purchasing an additional 1,532 shares in the last quarter. Citigroup Inc. increased its stake in Bridgewater Bancshares by 65.1% in the 4th quarter. Citigroup Inc. now owns 5,242 shares of the company’s stock worth $72,000 after purchasing an additional 2,067 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Bridgewater Bancshares by 40.2% in the 4th quarter. Russell Investments Group Ltd. now owns 13,398 shares of the company’s stock worth $184,000 after purchasing an additional 3,840 shares in the last quarter. Finally, Mackay Shields LLC increased its stake in Bridgewater Bancshares by 8.8% in the 4th quarter. Mackay Shields LLC now owns 53,234 shares of the company’s stock worth $733,000 after purchasing an additional 4,300 shares in the last quarter. 46.86% of the stock is currently owned by hedge funds and other institutional investors.

About Bridgewater Bancshares

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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