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On Thursday, DA Davidson analyst Jeff Rulis increased the price target on Bridgewater Bancshares Inc . (NASDAQ:BWB) to $19.00, up from the previous target of $18.00. The new target suggests a 33% upside from the current price of $14.28. According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $15.50 to $18.00. Rulis reaffirmed a Buy rating on the company’s stock, citing several key factors contributing to the positive outlook.
The analyst highlighted improved loan growth and rising net interest margin (NIM) levels as primary drivers for the enhanced net interest income (NII) forecast. These factors, according to Rulis, have not only contributed to revenue growth but have also positively impacted the company’s efficiency ratio, even in the face of additional costs from Farmers & Merchants Community Bancorp (FMCB) and investments to support further growth.
Bridgewater Bancshares’ performance has been characterized by high growth and efficiency, a trend that Rulis suggests is making a return. The company trades at a P/E ratio of 13.4x and maintains an 8% return on equity. Moreover, the company has maintained a clean credit profile throughout its growth, which the analyst views as a consistent strength. Additionally, Rulis praised Bridgewater Bancshares’ funding profile, describing it as "as good as it’s ever been." For a deeper understanding of BWB’s financial health and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro, which provides detailed analysis of over 1,400 US stocks.
The optimism from DA Davidson also extends to the earnings per share (EPS) outlook for Bridgewater Bancshares, which has been raised in line with the new price target. The analyst’s closing remarks reinforced the firm’s confidence in the stock, stating, "We have lifted our EPS outlook and PT, reiterate BUY rating." The adjustment in the price target reflects the analyst’s belief in the company’s continued strong performance and potential for shareholder returns.
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