Bridgewater Bancshares Q2 EPS Meets Estimates as Loan Growth Lifts NII 21%
BWB sits 47% above its 52-week low of $14.9.
Summary
Q2 adjusted EPS of $0.45 matched consensus, with net interest income jumping 21% annualized from Q1 to $38.6 million on loan growth and higher yields. The bank repurchased $700,000 of stock during the quarter. Noninterest income fell sharply due to no securities gains, a swing from the prior quarter. This follows the 8-K filed earlier today and the strong Q1 results that nearly doubled EPS year-over-year. The stock trades near its 52-week high at 11x forward earnings, up from 9x three months ago, reflecting improved sentiment but leaving limited room for upside surprise.
At the time of this announcement, BWB was trading at $21.89 on NASDAQ in the Finance sector, with a market capitalization of approximately $610.4M. The 52-week trading range was $14.90 to $22.59. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.