Bridgewater Bancshares Inc Stock Price, News & Analysis

Bridgewater Bancshares, Inc. (NASDAQ: BWB) has been recognized in the Piper Sandler Sm-All Stars Class of 2022, an accolade awarded to top-performing small-cap banks with a market cap under $2.5 billion. Out of over 360 evaluated institutions, only 35 were selected, with Bridgewater being the only Minnesota-based bank honored. This marks the third time the bank has received this distinction, previously awarded in 2018 and 2020. The recognition highlights the bank's commitment to growth, profitability, and excellent client relationships.

Bridgewater Bancshares (BWB) has announced a new stock repurchase program, allowing up to $25 million for repurchasing common stock. This program replaces the previous $40 million program, which had $1.6 million remaining as of August 17, 2022. The new program, effective from August 17, 2022, will run until August 16, 2024. While the repurchase is subject to market conditions, the company retains discretion to modify or discontinue the program as it sees fit.

Bridgewater Bancshares reported a net income of $12.9 million for Q2 2022, a 5.1% increase from Q1 2022 and a 17.2% increase year-over-year. Diluted EPS rose 6.8% and 9.2% from the previous quarter and year, respectively, reaching $0.41. The bank experienced a 31.9% annualized growth in gross loans and 22.0% in deposits. Net interest margin remained stable at 3.58%. The board declared a quarterly cash dividend of $36.72 per share of its Series A Preferred Stock, payable on September 1, 2022.

Bridgewater Bancshares reported net income of $12.3 million for Q1 2022, a 2.0% decrease from Q4 2021 but a 14.9% increase year-over-year. Earnings per diluted share remained stable at $0.39. Loan growth was strong, with gross loans increasing 24.2% annualized, and deposits grew by 12.3%. The net interest margin improved to 3.60%, while net charge-offs remained at 0.00%. A quarterly cash dividend of $36.72 per share of Series A Preferred Stock (BWBBP) was also declared.

Bridgewater Bancshares, Inc. (NASDAQ: BWB) has been recognized as the fifth best-performing community bank in S&P Global Market Intelligence’s annual ranking for 2021, specifically among banks with assets between $3 billion and $10 billion. This accolade highlights the bank's strong loan growth and efficient business model. CEO Jerry Baack attributes this achievement to the dedication of their team and the attraction of top talent in the Twin Cities market. With total assets of $3.5 billion, Bridgewater Bank is among Minnesota's largest locally led banks.

Bridgewater Bancshares reported a net income of $12.5 million for Q4 2021, up 8.7% from Q3 2021 and a remarkable 151.3% increase from Q4 2020. Diluted earnings per share were $0.39, slightly down from $0.40 in Q3 2021, but up significantly from $0.17 a year ago. The bank experienced strong loan production with gross loans rising 15.7% annualized in Q4. Deposits also grew by 12.8%. A quarterly cash dividend of $36.72 per share on Series A Preferred Stock is set for March 1, 2022. For 2021, diluted earnings per share reached $1.54, a 64.8% increase year-over-year.

Bridgewater Bancshares announced a net income of $11.5 million for Q3 2021, up 4.7% from Q2 2021 and 60.4% year-over-year. Diluted earnings per share increased to $0.40, reflecting strong organic loan growth and capital-raising efforts. Total assets rose to $3.39 billion, a 22.1% increase from last year. Gross loans reached $2.71 billion, up 20.0% year-over-year. The adjusted efficiency ratio remained stable at 41.5%. Loan loss provisions decreased to $1.3 million, while the allowance for loan losses was 1.43% of total loans.

Bridgewater Bancshares, Inc. (Nasdaq: BWB) has declared a quarterly cash dividend of $42.43 per share on its 5.875% Non-Cumulative Perpetual Preferred Stock, Series A (Nasdaq: BWBBP). This dividend, amounting to $0.4243 per depositary share, will be payable on December 1, 2021, to shareholders on record as of November 15, 2021. With total assets of $3.2 billion and a strong growth history, Bridgewater Bank continues to position itself as a leading financial institution in Minnesota.

Bridgewater Bancshares, Inc. (Nasdaq: BWB) announced the successful completion of a public offering of 2,760,000 depositary shares, representing 5.875% Non-Cumulative Perpetual Preferred Stock, Series A. The offering raised $69.0 million in gross proceeds, with net proceeds of $66.5 million after expenses. These funds will support organic growth, enhance capital ratios, and may be used for debt repurchase. The depositary shares commenced trading on August 18, 2021, under the symbol BWBBP.