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/Mis Actual Consensu

s s

Estimate

Q2 Beat $0.37 $0.34 (3

Adjusted Analysts

EPS )

Q2 EPS $0.38

Q2 Net $11.50

Income mln

Q2 Net $32.50

Interest mln

Income

Q2 Loan $2 mln

Loss

Provisio

n

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 ( BWB ) 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:

(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.)