Zacks Investment Research Downgrades Bridgewater Bancshares (BWB) to Hold

Bridgewater Bancshares (NASDAQ:BWB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

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. “

NASDAQ BWB traded down $0.09 during mid-day trading on Wednesday, hitting $13.15. The company’s stock had a trading volume of 14,300 shares, compared to its average volume of 78,845. Bridgewater Bancshares has a twelve month low of $12.29 and a twelve month high of $13.87. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.03 and a quick ratio of 1.03.

Bridgewater Bancshares (NASDAQ:BWB) last posted its quarterly earnings data on Thursday, July 26th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.02. The firm had revenue of $16.38 million for the quarter, compared to analysts’ expectations of $16.40 million. equities analysts expect that Bridgewater Bancshares will post 0.93 earnings per share for the current year.

In other Bridgewater Bancshares news, CEO Jerry J. Baack bought 2,000 shares of the stock in a transaction dated Tuesday, July 31st. The shares were bought at an average cost of $12.77 per share, for a total transaction of $25,540.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Douglas J. Parish bought 8,000 shares of the stock in a transaction dated Thursday, August 16th. The shares were acquired at an average price of $12.39 per share, for a total transaction of $99,120.00. The disclosure for this purchase can be found here.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP bought a new stake in shares of Bridgewater Bancshares during the 2nd quarter worth $142,000. Carlson Capital Management bought a new stake in shares of Bridgewater Bancshares during the 2nd quarter worth $143,000. Acadian Asset Management LLC bought a new stake in shares of Bridgewater Bancshares during the 2nd quarter worth $148,000. State of Wisconsin Investment Board bought a new stake in shares of Bridgewater Bancshares during the 1st quarter worth $157,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Bridgewater Bancshares during the 2nd quarter worth $157,000. Institutional investors own 33.10% 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 saving and money market, time, interest and noninterest bearing transaction, and brokered deposits.

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