Piper Sandler Cuts Bridgewater Bancshares (NASDAQ:BWB) Price Target to $17.00

Bridgewater Bancshares (NASDAQ:BWB) had its price objective lowered by Piper Sandler from $18.00 to $17.00 in a research report report published on Friday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Separately, DA Davidson reissued a “buy” rating and set a $18.00 price objective on shares of Bridgewater Bancshares in a research report on Thursday.

Bridgewater Bancshares Stock Performance

Bridgewater Bancshares stock opened at $14.12 on Friday. The stock has a 50-day simple moving average of $14.03 and a 200 day simple moving average of $14.10. The stock has a market capitalization of $387.31 million, a price-to-earnings ratio of 13.71 and a beta of 0.68. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.11. Bridgewater Bancshares has a 12-month low of $10.52 and a 12-month high of $16.00.

Bridgewater Bancshares (NASDAQ:BWB) last posted its quarterly earnings results 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 anticipate that Bridgewater Bancshares will post 1.24 earnings per share for the current fiscal year.

Insider Activity at Bridgewater Bancshares

In other news, Director James S. Johnson sold 4,705 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $15.00, for a total transaction of $70,575.00. Following the completion of the transaction, the director now directly owns 93,646 shares in the company, valued at $1,404,690. The trade was a 4.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas J. Parish sold 5,750 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $15.05, for a total value of $86,537.50. Following the completion of the sale, the director now directly owns 1,636 shares in the company, valued at approximately $24,621.80. The trade was a 77.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,455 shares of company stock worth $233,903. Insiders own 23.21% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Barclays PLC boosted its holdings in shares of Bridgewater Bancshares by 283.4% during the third quarter. Barclays PLC now owns 25,997 shares of the company’s stock worth $369,000 after purchasing an additional 19,217 shares during the period. State Street Corp increased its stake in shares of Bridgewater Bancshares by 1.1% during the third quarter. State Street Corp now owns 449,345 shares of the company’s stock valued at $6,367,000 after purchasing an additional 4,874 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Bridgewater Bancshares by 121.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 70,025 shares of the company’s stock worth $992,000 after purchasing an additional 38,461 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Bridgewater Bancshares by 11.4% in the 3rd quarter. Jane Street Group LLC now owns 23,696 shares of the company’s stock worth $336,000 after buying an additional 2,422 shares during the last quarter. Finally, Empowered Funds LLC increased its position in Bridgewater Bancshares by 5.1% during the 3rd quarter. Empowered Funds LLC now owns 16,523 shares of the company’s stock valued at $234,000 after buying an additional 804 shares in the last quarter. 65.83% of the stock is 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, 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.