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

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Zacks Investment Research downgraded shares of Bridgewater Bancshares (NASDAQ:BWB) from a buy rating to a hold rating in a report 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 research analysts have also commented on BWB. DA Davidson initiated coverage on shares of Bridgewater Bancshares in a report on Monday, April 9th. They issued a buy rating and a $15.50 price objective for the company. Sandler O’Neill initiated coverage on shares of Bridgewater Bancshares in a report on Monday, April 9th. They issued a buy rating and a $15.00 price objective for the company.

Shares of NASDAQ BWB opened at $12.72 on Wednesday. Bridgewater Bancshares has a 12 month low of $12.60 and a 12 month high of $13.87.

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

In other Bridgewater Bancshares news, CEO Jerry J. Baack bought 2,000 shares of Bridgewater Bancshares stock in a transaction dated Wednesday, May 2nd. The shares were purchased at an average cost of $13.29 per share, with a total value of $26,580.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Several large investors have recently added to or reduced their stakes in the company. Millennium Management LLC purchased a new stake in shares of Bridgewater Bancshares in the 1st quarter worth about $4,046,000. Element Capital Management LLC purchased a new stake in shares of Bridgewater Bancshares in the 1st quarter worth about $275,000. Next Century Growth Investors LLC purchased a new stake in shares of Bridgewater Bancshares in the 1st quarter worth about $3,326,000. Nuveen Asset Management LLC purchased a new stake in shares of Bridgewater Bancshares in the 1st quarter worth about $724,000. Finally, RMB Capital Management LLC purchased a new stake in shares of Bridgewater Bancshares in the 1st quarter worth about $3,588,000. 27.72% of the stock is currently owned by hedge funds and other institutional investors.

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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