Bridgewater Bancshares Q2 adjusted EPS meets estimates as net interest income rises on loan growth
BWB•Capital return and outlook
The company repurchased $700,000 of stock during the quarter.
The company did not provide specific guidance for the current quarter or full year in the press release.
Quarterly results and drivers
- Q2 adjusted EPS: $0.45, matching the analyst consensus of $0.45 from four analysts.
- Q2 EPS: $0.45.
- Q2 net income: $14 million.
- Q2 net interest income: $38.60 million.
Net interest income rose 21% annualized from Q1, driven by loan growth and higher yields. Net interest income and margin rose primarily because of growth and repricing of the loan portfolio at higher yields and lower rates paid on deposits.
Loan portfolio growth was primarily driven by increases in the multifamily portfolio.
Noninterest income fell sharply because there was no net gain on the sale of securities compared with the previous quarter.
Analyst coverage and valuation
The current average analyst rating on the shares is buy, with 3 strong buy or ratings, 1 , and no or ratings.
