Thrivent Asset Management LLC recently announced the acquisition of new stake in Bridgewater Bancshares Inc. (NASDAQ:BWB). The institutional investor has increased its shareholding in the Financial company by 3.13% to 2.1 million shares with purchase of 63607.0 shares. This fresh investment now brings its stake to 7.60% valued currently at $37.17 million. In addition, FIAM LLC raised its holdings by 0.11 million to 1.2 million shares. And The Vanguard Group, Inc. has lifted its position by 2.43% or 22530.0 shares – to 0.95 million shares.
With over 0.1 million Bridgewater Bancshares Inc. (BWB) shares trading Tuesday and a closing price of $17.00 on the day, the dollar volume was approximately $1.76 million. The shares have shown a positive half year performance of 0.35% and its price on 01/24/23 lost nearly -1.22%. Currently, there are 27.52M common shares owned by the public and among those 20.14M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for BWB have a consensus price objective of $21.17. The analysts have set the share’s price value over the next 12 months at a high of $22.00 and a low of $20.50. The average price target is 19.7% above its recent price level and an upside to the estimated low will see the stock gain 17.07% over that period. But an upside of 22.73% will see the stock hit the forecast high price target while median target price for the stock is $21.00.
Insiders at the company have transacted a total of 53 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 29 of these insider trades were purchases, accounting for 108,928 shares. Insider sales of the common stock occurred on 24 occasions, with total insider shares sold totaling 67,692 shares.
The top 3 mutual fund holders in Bridgewater Bancshares Inc. are Thrivent Small Cap Stock Fund, Thrivent Variable Product – Small, and Vanguard Total Stock Market Index. Thrivent Small Cap Stock Fund owns 1.21 million shares of the company’s stock, all valued at over $21.5 million. The company bought an additional 0.16 million shares recently to bring their total holdings to about 4.39% of the shares outstanding. Thrivent Variable Product – Small bought 3098.0 shares to see its total holdings expand to 0.59 million shares valued at over $10.48 million and representing 2.14% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 2.08% of the shares outstanding.
However, the script later moved the day high at 17.21, down -1.22%. The company’s stock has a 5-day price change of -2.69% and -3.52% over the past three months. BWB shares are trading -4.17% year to date (YTD), with the 12-month market performance down to -1.45% lower. It has a 12-month low price of $14.97 and touched a high of $20.20 over the same period. BWB has an average intraday trading volume of 65.98K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.57%, -6.90%, and -1.14% respectively.
Institutional ownership of Bridgewater Bancshares Inc. (NASDAQ: BWB) shares accounts for 59.50% of the company’s 27.52M shares outstanding. Mutual fund holders own 25.40%, while other institutional holders and individual stakeholders account for 29.21% and 24.36% respectively.
It has a market capitalization of $466.82M and a beta (3y monthly) value of 0.72. The stock’s trailing 12-month PE ratio is 10.20, while the earnings-per-share (ttm) stands at $1.67. The company has a PEG of 0.68 and the debt-to-equity ratio at 0.29. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.03% over the week and 2.08% over the month.
Analysts forecast that Bridgewater Bancshares Inc. (BWB) will achieve an EPS of $0.46 for the current quarter, $0.45 for the next quarter and $1.88 for 2023. The lowest estimate earnings-per-share for the quarter is $0.43 while analysts give the company a high EPS estimate of $0.49. Comparatively, EPS for the current quarter was $0.39 a year ago. Earnings per share for the fiscal year are expected to increase by 64.80%, and 5.37% over the next financial year. EPS should shrink at an annualized rate of 15.00% over the next five years, compared to 27.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Bridgewater Bancshares Inc. (BWB) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the BWB, a number of firms have released research notes about the stock. B. Riley Securities stated their Neutral rating for the stock in a research note on June 14, 2022, with the firm’s price target at $21-$18.
