Bridgewater Bancshares initiated with an Equal Weight at Stephens

Stephens initiated coverage of Bridgewater Bancshares (BWB) with an Equal Weight rating and $20 price target The firm believes the bank is well positioned for lower interest rates and a steepening yield curve in the short term. However, Bridgewater’s “elevated” commercial real estate concentration ratio and peer-low tangible common equity ratio may limit the stock’s upside potential, the analyst tells investors in a research note.