Bridgewater Bancshares (NASDAQ:BWB) Price Target Raised to $17.00

Bridgewater Bancshares (NASDAQ:BWB) had its target price upped by equities researchers at DA Davidson from $14.00 to $17.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price target points to a potential upside of 16.68% from the company’s previous close.

Separately, Piper Sandler reaffirmed an “overweight” rating and set a $14.00 target price (down from $14.50) on shares of Bridgewater Bancshares in a research report on Friday, April 26th.

Bridgewater Bancshares Price Performance

Shares of NASDAQ:BWB traded up $0.09 during trading hours on Friday, hitting $14.57. 14,797 shares of the company’s stock traded hands, compared to its average volume of 56,239. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.02 and a current ratio of 1.02. The company’s fifty day simple moving average is $11.79 and its two-hundred day simple moving average is $11.89. Bridgewater Bancshares has a 52 week low of $8.00 and a 52 week high of $14.90. The company has a market cap of $398.78 million, a price-to-earnings ratio of 12.89 and a beta of 0.69.

Bridgewater Bancshares (NASDAQ:BWB) last issued its earnings results on Wednesday, July 24th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The firm had revenue of $62.64 million during the quarter, compared to analysts’ expectations of $26.60 million. Bridgewater Bancshares had a net margin of 14.27% and a return on equity of 9.61%. During the same period last year, the firm posted $0.31 earnings per share. As a group, equities analysts anticipate that Bridgewater Bancshares will post 1 EPS for the current fiscal year.

Institutional Trading of Bridgewater Bancshares

Hedge funds have recently modified their holdings of the business. Stieven Capital Advisors L.P. grew its position in Bridgewater Bancshares by 94.8% during the first quarter. Stieven Capital Advisors L.P. now owns 294,537 shares of the company’s stock valued at $3,428,000 after purchasing an additional 143,376 shares in the last quarter. Acadian Asset Management LLC increased its position in Bridgewater Bancshares by 92.3% in the 1st quarter. Acadian Asset Management LLC now owns 289,173 shares of the company’s stock worth $3,364,000 after purchasing an additional 138,776 shares during the last quarter. Banc Funds Co. LLC raised its stake in shares of Bridgewater Bancshares by 196.3% during the 4th quarter. Banc Funds Co. LLC now owns 186,704 shares of the company’s stock worth $2,524,000 after purchasing an additional 123,695 shares in the last quarter. Kennedy Capital Management LLC acquired a new stake in shares of Bridgewater Bancshares during the 1st quarter valued at about $1,396,000. Finally, Sippican Capital Advisors bought a new stake in shares of Bridgewater Bancshares in the 4th quarter valued at approximately $543,000. Hedge funds and other 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.