Piper Sandler Has Lowered Expectations for Bridgewater Bancshares (NASDAQ:BWB) Stock Price

Bridgewater Bancshares (NASDAQ:BWB) had its price objective dropped by investment analysts at Piper Sandler from $18.00 to $17.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 19.76% from the stock’s current price.

Separately, DA Davidson reiterated a “buy” rating and issued a $18.00 target price on shares of Bridgewater Bancshares in a research note on Thursday.

Bridgewater Bancshares Stock Down 0.2 %

BWB stock traded down $0.03 during mid-day trading on Friday, hitting $14.20. 2,228 shares of the company were exchanged, compared to its average volume of 56,861. The company has a market capitalization of $389.37 million, a PE ratio of 13.78 and a beta of 0.68. The firm has a fifty day simple moving average of $14.05 and a 200 day simple moving average of $14.09. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.11. Bridgewater Bancshares has a twelve month low of $10.52 and a twelve month high of $16.00.

Bridgewater Bancshares (NASDAQ:BWB) last announced its quarterly earnings data on Wednesday, January 29th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. Bridgewater Bancshares had a return on equity of 8.85% and a net margin of 12.96%. On average, research analysts forecast that Bridgewater Bancshares will post 1.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Douglas J. Parish sold 5,750 shares of Bridgewater Bancshares stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $15.05, for a total value of $86,537.50. Following the transaction, the director now directly owns 1,636 shares in the company, valued at $24,621.80. The trade was a 77.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James S. Johnson sold 4,705 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $15.00, for a total transaction of $70,575.00. Following the sale, the director now directly owns 93,646 shares of the company’s stock, valued at $1,404,690. This represents a 4.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,455 shares of company stock worth $233,903. 23.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bridgewater Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Bridgewater Bancshares during the 2nd quarter worth about $35,000. BNP Paribas Financial Markets raised its position in shares of Bridgewater Bancshares by 18.0% in the third quarter. BNP Paribas Financial Markets now owns 4,424 shares of the company’s stock valued at $63,000 after purchasing an additional 676 shares during the period. SG Americas Securities LLC acquired a new position in Bridgewater Bancshares in the 3rd quarter valued at $100,000. D.A. Davidson & CO. acquired a new position in Bridgewater Bancshares during the 3rd quarter worth $183,000. Finally, Martingale Asset Management L P acquired a new position in shares of Bridgewater Bancshares during the 3rd quarter worth about $185,000. Institutional investors own 65.83% of the company’s stock.

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, entrepreneurs, business clients, and individuals in the United States. The company provides savings and money market accounts, demand deposits, time and brokered deposits, and interest and noninterest bearing transaction, as well as certificates of deposit.