Bridgewater Bancshares (BWB) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Bridgewater Bancshares (NASDAQ:BWB) from a buy rating to a hold rating in a research note published 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. “

Several other brokerages also recently commented on BWB. Sandler O’Neill began coverage on shares of Bridgewater Bancshares in a research report on Monday, April 9th. They set a buy rating and a $15.00 price objective on the stock. DA Davidson began coverage on shares of Bridgewater Bancshares in a research report on Monday, April 9th. They set a buy rating and a $15.50 price objective on the stock.

Shares of BWB stock opened at $12.72 on Wednesday. Bridgewater Bancshares has a one year low of $12.60 and a one year high of $13.87.

Bridgewater Bancshares (NASDAQ:BWB) last announced its quarterly earnings data on Thursday, April 26th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The firm had revenue of $15.15 million for the quarter, compared to analysts’ expectations of $15.40 million. equities analysts expect that Bridgewater Bancshares will post 0.87 earnings per share for the current year.

In other news, CEO Jerry J. Baack acquired 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 2nd. The shares were bought at an average cost of $13.29 per share, with a total value of $26,580.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Institutional investors and hedge funds have recently bought and sold shares of the business. State of Wisconsin Investment Board bought a new position in Bridgewater Bancshares during the 1st quarter valued at about $157,000. Element Capital Management LLC bought a new position in shares of Bridgewater Bancshares in the 1st quarter worth approximately $275,000. Russell Investments Group Ltd. bought a new position in shares of Bridgewater Bancshares in the 1st quarter worth approximately $298,000. Dean Capital Investments Management LLC bought a new position in shares of Bridgewater Bancshares in the 1st quarter worth approximately $409,000. Finally, Penn Capital Management Co. Inc. bought a new position in shares of Bridgewater Bancshares in the 1st quarter worth approximately $460,000. Institutional investors and hedge funds own 27.72% 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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