Bridgewater Bancshares (NASDAQ:BWB) Rating Increased to Buy at Zacks Investment Research

Bridgewater Bancshares (NASDAQ:BWB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The firm presently has a $18.00 price target on the stock. Zacks Investment Research‘s price target suggests a potential upside of 9.96% from the stock’s current price.

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. “

Separately, B. Riley boosted their target price on Bridgewater Bancshares from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, April 9th.

Shares of NASDAQ:BWB traded up $0.14 during trading on Tuesday, hitting $16.37. 37,067 shares of the company’s stock traded hands, compared to its average volume of 65,914. Bridgewater Bancshares has a 52 week low of $8.10 and a 52 week high of $18.25. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.76. The company has a market cap of $460.44 million, a price-to-earnings ratio of 15.59 and a beta of 0.79. The company has a 50-day moving average price of $16.16 and a 200-day moving average price of $13.79.

Bridgewater Bancshares (NASDAQ:BWB) last released its quarterly earnings data on Wednesday, April 28th. The company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.04. Bridgewater Bancshares had a return on equity of 12.13% and a net margin of 26.20%. On average, analysts predict that Bridgewater Bancshares will post 1 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in BWB. Sei Investments Co. bought a new stake in shares of Bridgewater Bancshares during the 3rd quarter worth approximately $103,000. Nisa Investment Advisors LLC raised its stake in shares of Bridgewater Bancshares by 92.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,400 shares of the company’s stock worth $67,000 after purchasing an additional 2,600 shares in the last quarter. Foundry Partners LLC raised its stake in shares of Bridgewater Bancshares by 4.2% during the 4th quarter. Foundry Partners LLC now owns 128,440 shares of the company’s stock worth $1,604,000 after purchasing an additional 5,195 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Bridgewater Bancshares by 576.3% during the 4th quarter. Panagora Asset Management Inc. now owns 4,017 shares of the company’s stock worth $50,000 after acquiring an additional 3,423 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Bridgewater Bancshares by 12.4% during the 4th quarter. Rhumbline Advisers now owns 36,905 shares of the company’s stock worth $461,000 after acquiring an additional 4,076 shares during the last quarter. Institutional investors own 48.08% 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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