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Bridgewater Bancshares Inc (BWB)
NASDAQ:BWB
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Earnings Data
Report Date
Jan 23, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.24Last Year’s EPS
$0.28Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2024
|% Change Since: -8.95%
|Next Earnings Date:Jan 23, 2025
Earnings Call Sentiment|Positive
The earnings call presented a positive outlook, with strong growth in core deposits, stable net interest margins, and successful acquisition strategies. However, challenges such as elevated loan payoffs and a problematic office loan were noted. Despite these issues, the company's strategic moves and stable financial performance led to an overall positive sentiment.Company Guidance
During the Bridgewater Bancshares Q3 2024 earnings call, the executives provided a comprehensive update on the company's financial performance and strategic initiatives. They reported earnings of $0.27 per share with a stable net interest margin of 2.24% for the third consecutive quarter. The bank experienced strong core deposit growth of 14.4% annualized, contributing to an improved deposit mix despite total deposits declining due to reduced brokered and time deposits. Asset quality remained robust, although there was a noted increase in net charge-offs and nonperforming loans, primarily due to a central business district office loan issue. The acquisition of First Minnetonka City Bank was highlighted as a strategic move to enhance liquidity and reduce commercial real estate concentration, with the acquisition expected to close in Q4. The company also reported a 3% growth in tangible book value for the 31st consecutive quarter. Looking ahead, Bridgewater is optimistic about modest margin expansion and net interest income growth, driven by core deposit growth, asset yield improvements, and the potential impact of the First Minnetonka City Bank integration.Earnings and Revenue Growth
Earnings per share were reported at $0.27. Net interest income grew for the second consecutive quarter, and the company saw total revenue growth despite challenges in loan balances.
Strong Core Deposit Growth
Core deposit growth was strong, with $93 million or 14.4% annualized growth in the third quarter, improving the overall deposit mix.
Stable Net Interest Margin
Net interest margin remained stable at 2.24% for the third consecutive quarter, with expectations of margin expansion due to the Fed's rate cuts.
Tangible Book Value Growth
The company achieved its 31st consecutive quarter of tangible book value growth, with a 3% increase in the third quarter.
Acquisition of First Minnetonka City Bank
The acquisition is expected to close in the fourth quarter and is anticipated to bring low-cost deposits and reduce CRE concentration. Regulatory approval has been received.
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BWB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BWB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 23, 2024 | $15.19 | $14.92 | -1.78% |
| Jul 24, 2024 | $13.79 | $14.48 | +5.00% |
| Apr 24, 2024 | $12.09 | $11.80 | -2.40% |
| Jan 24, 2024 | $13.74 | $13.86 | +0.87% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Bridgewater Bancshares Inc (BWB) report earnings?
Bridgewater Bancshares Inc (BWB) is schdueled to report earning on Jan 23, 2025, TBA Not Confirmed.
What is Bridgewater Bancshares Inc (BWB) earnings time?
Bridgewater Bancshares Inc (BWB) earnings time is at Jan 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BWB EPS forecast?
BWB EPS forecast for the fiscal quarter 2024 (Q4) is $0.24.
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