Zacks: Analysts Anticipate Bridgewater Bancshares Inc (NASDAQ:BWB) Will Post Quarterly Sales of $21.33 Million

Wall Street analysts expect that Bridgewater Bancshares Inc (NASDAQ:BWB) will report sales of $21.33 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Bridgewater Bancshares’ earnings, with the highest sales estimate coming in at $21.40 million and the lowest estimate coming in at $21.26 million. Bridgewater Bancshares reported sales of $19.27 million in the same quarter last year, which suggests a positive year over year growth rate of 10.7%. The business is scheduled to report 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 financial year, analysts expect that the business will post sales of $94.45 million, with estimates ranging from $92.59 million to $96.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Bridgewater Bancshares.

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

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BWB. Thrivent Financial for Lutherans grew its holdings in shares of Bridgewater Bancshares by 49.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,134,592 shares of the company’s stock worth $15,635,000 after buying an additional 374,281 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Bridgewater Bancshares by 52.1% in the 4th quarter. Renaissance Technologies LLC now owns 607,747 shares of the company’s stock valued at $8,375,000 after purchasing an additional 208,161 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in Bridgewater Bancshares in the 4th quarter valued at approximately $1,811,000. Seizert Capital Partners LLC purchased a new stake in Bridgewater Bancshares in the 4th quarter valued at approximately $1,758,000. Finally, John W. Rosenthal Capital Management Inc. boosted its holdings in Bridgewater Bancshares by 287.9% in the 4th quarter. John W. Rosenthal Capital Management Inc. now owns 135,364 shares of the company’s stock valued at $1,865,000 after purchasing an additional 100,464 shares in the last quarter. 46.23% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ BWB traded down $0.35 during mid-day trading on Monday, hitting $9.34. The company had a trading volume of 210,456 shares, compared to its average volume of 53,973. The company has a market capitalization of $279.20 million, a PE ratio of 9.06 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 1-year low of $7.99 and a 1-year high of $13.90. The business’s 50-day simple moving average is $9.94 and its 200 day simple moving average is $11.35.

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, 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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