Overview
Bridgewater Q2 adjusted EPS beats analyst expectations, per LSEG data
Net income rises to $11.5 mln, driven by higher net interest income
Co completes $80 mln private placement, repurchases 122,704 shares
Outlook
Company anticipates continued tangible book value growth
Result Drivers
NET INTEREST INCOME - Increase driven by increased loan interest and fee income
NONINTEREST INCOME - Record level achieved due to gains on securities sales and fee income
LOAN GROWTH - Strong loan originations exceeded payoffs and paydowns
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Adjusted EPS
Beat
$0.37
$0.34 (3 Analysts)
Q2 EPS
$0.38
Q2 Net Income
$11.50 mln
Q2 Net Interest Income
$32.50 mln
Q2 Loan Loss Provision
$2 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for Bridgewater Bancshares Inc is $18.00, about 10.7% above its July 22 closing price of $16.07
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago
Press Release: ID:nBwbMzpWCa
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)