Bridgewater Bancshares Inc Stock Price, News & Analysis

Bridgewater Bancshares, Inc. (Nasdaq: BWB) reported a net income of $11.6 million for Q1 2023, down from $13.7 million in Q4 2022 and $12.3 million YoY. Earnings per diluted share decreased to $0.37 from $0.45 in Q4 2022 and $0.39 in Q1 2022. The net interest margin contracted to 2.72%, a decline from 3.16% in Q4 2022, reflecting higher funding costs. Total assets increased 5.9% to $4.60 billion, driven by strong loan growth, with gross loans up 3.2% QoQ. Despite a slight dip in deposits by 0.2% to $3.41 billion, the bank maintained a strong balance sheet with a tangible book value of $11.95 per share. The company declared a cash dividend of $36.72 per share on its Series A Preferred Stock, payable on June 1, 2023.

Bridgewater Bancshares, Inc. (NASDAQ: BWB) will release its Q1 2023 financial results on April 26, 2023, after market close. A conference call is scheduled for April 27, 2023, at 8:00 a.m. CT for discussing these results. Investors can join the call at 877-270-2148, with a replay available until May 4, 2023. The call will also be available via live webcast on the investor relations section of Bridgewater’s website. As of December 31, 2022, Bridgewater Bancshares has total assets of $4.3 billion and operates seven branches, positioning itself among the largest locally led banks in Minnesota.

Bridgewater Bancshares, Inc. (NASDAQ: BWB) announced its achievement of the highest 'Outstanding' rating from the FDIC for its compliance with the Community Reinvestment Act. This designation highlights Bridgewater's commitment to meeting the credit needs of the Twin Cities, especially in low and moderate-income areas. The evaluation period from February 2020 to January 2023 noted 87 community development loans totaling $486 million, with 90% directed toward affordable housing. Bridgewater is currently the only bank in Minnesota to receive this 'Outstanding' rating in the large bank category since 2020.

Bridgewater Bancshares, Inc. (Nasdaq: BWB) has been recognized as the 14th best-performing community bank in S&P Global Market Intelligence’s annual ranking for 2022, specifically for institutions with $3 billion to $10 billion in assets. This marks the second consecutive year of recognition for Bridgewater, highlighting its efficient business model and strong asset quality. As the highest-ranked bank in Minnesota, Bridgewater emphasizes its positive impact within the Twin Cities market. The rankings assess banks based on returns, growth, efficiency, and balance sheet strength. Bridgewater holds total assets of $4.3 billion with seven branches as of December 31, 2022.

Bridgewater Bank, a prominent Twin Cities bank and subsidiary of Bridgewater Bancshares (Nasdaq: BWB), recently announced that its Bridgewater Corporate Center in St. Louis Park, MN, has achieved the U.S. EPA's ENERGY STAR certification for superior energy performance. This certification signifies that the building ranks among the top 25 percent of energy-efficient buildings nationwide based on verified energy performance. President and CEO Jerry Baack emphasized the bank's commitment to sustainability and ESG priorities through this achievement. As of December 31, 2022, Bridgewater Bank reported assets exceeding $4.3 billion and continues to grow within the Minnesota banking landscape.

Bridgewater Bancshares, Inc. (Nasdaq: BWB) reported a fourth-quarter net income of $13.7 million, down 5.4% from Q3 2022 but up 9.8% from Q4 2021. Earnings per diluted share were $0.45, a 5.6% decrease from the previous quarter. The company noted strong balance sheet growth, with gross loans increasing by $189.4 million (22.2% annualized) and deposits up $111.5 million (13.4% annualized). However, net interest margin compressed to 3.16% from 3.53% in Q3 due to rising interest rates. The company expects ongoing challenges in 2023 but intends to focus on profitable growth. Annual earnings per share for 2022 increased 12.0% to $1.72 compared to 2021.

Bridgewater Bancshares, Inc. (BWB) will release its fourth quarter 2022 financial results on January 25, 2023, after market close. The company will host a conference call and webcast on January 26, 2023, at 8:00 a.m. Central Time, to discuss these results. Interested parties can join via phone or through a live webcast available on the investor relations section of Bridgewater's website. As of September 30, 2022, Bridgewater Bancshares reported total assets of $4.1 billion and operates seven branches in Minnesota.