Bridgewater Bancshares Inc (NASDAQ:BWB) Expected to Post Quarterly Sales of $21.33 Million

Analysts expect that Bridgewater Bancshares Inc (NASDAQ:BWB) will post $21.33 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Bridgewater Bancshares’ earnings, with the lowest sales estimate coming in at $21.26 million and the highest estimate coming in at $21.40 million. Bridgewater Bancshares reported sales of $19.27 million in the same quarter last year, which would suggest a positive year over year growth rate of 10.7%. The company is scheduled to issue its next quarterly earnings results on Thursday, July 23rd.

According to Zacks, analysts expect that Bridgewater Bancshares will report full-year sales of $90.03 million for the current year, with estimates ranging from $88.70 million to $91.35 million. For the next year, analysts anticipate that the firm will report sales of $94.45 million, with estimates ranging from $92.59 million to $96.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Bridgewater Bancshares.

Bridgewater Bancshares (NASDAQ:BWB) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Bridgewater Bancshares had a net margin of 28.45% and a return on equity of 13.29%. The firm had revenue of $21.82 million for the quarter, compared to the consensus estimate of $20.32 million.

Several research firms recently issued reports on BWB. Zacks Investment Research upgraded shares of Bridgewater Bancshares from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Monday, June 15th. B. Riley cut their price target on shares of Bridgewater Bancshares from $16.00 to $13.00 and set a “buy” rating for the company in a report on Monday, April 13th. ValuEngine upgraded Bridgewater Bancshares from a “strong sell” rating to a “sell” rating in a report on Thursday, April 2nd. TheStreet lowered Bridgewater Bancshares from a “c-” rating to a “d+” rating in a research report on Tuesday, April 14th. Finally, BidaskClub downgraded Bridgewater Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $12.00.

Bridgewater Bancshares stock traded down $0.35 during trading on Monday, reaching $9.34. 217,500 shares of the company were exchanged, compared to its average volume of 73,678. The stock’s 50 day simple moving average is $9.94 and its two-hundred day simple moving average is $11.35. The company has a market capitalization of $269.11 million, a P/E ratio of 8.73 and a beta of 0.99. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.07 and a quick ratio of 1.07. Bridgewater Bancshares has a 52-week low of $7.99 and a 52-week high of $13.90.

Several hedge funds and other institutional investors have recently made changes to their positions in BWB. Bank of New York Mellon Corp increased its stake in shares of Bridgewater Bancshares by 49.4% during the fourth quarter. Bank of New York Mellon Corp now owns 107,389 shares of the company’s stock worth $1,480,000 after buying an additional 35,527 shares during the period. Alliancebernstein L.P. grew its holdings in Bridgewater Bancshares by 2.5% during the 1st quarter. Alliancebernstein L.P. now owns 483,442 shares of the company’s stock worth $4,714,000 after acquiring an additional 11,800 shares in the last quarter. AJO LP acquired a new position in Bridgewater Bancshares during the 1st quarter worth approximately $665,000. Oxford Asset Management LLP increased its position in shares of Bridgewater Bancshares by 23.3% in the 4th quarter. Oxford Asset Management LLP now owns 93,526 shares of the company’s stock valued at $1,289,000 after purchasing an additional 17,655 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of Bridgewater Bancshares by 44.1% in the 4th quarter. Nuveen Asset Management LLC now owns 107,267 shares of the company’s stock valued at $1,478,000 after purchasing an additional 32,804 shares in the last quarter. Institutional investors and hedge funds own 46.23% 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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Earnings History and Estimates for Bridgewater Bancshares (NASDAQ:BWB)

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