Is Bridgewater Bancshares, Inc. overvalued or undervalued?

As of 25 January 2023, the valuation grade for Bridgewater Bancshares, Inc. has moved from attractive to fair. The company is currently fairly valued based on its financial metrics. The P/E ratio stands at 12, while the price-to-book value is 0.88, and the EV to EBITDA ratio is 14.14.
In comparison to its peers, Bridgewater's P/E ratio of 12 is lower than that of Peoples Financial Services Corp. at 13.04 and ACNB Corp. at 12.72, both of which are considered expensive. Additionally, Home Bancorp, Inc. has a P/E of 9.88, indicating a more attractive valuation relative to Bridgewater. Notably, Bridgewater has outperformed the S&P 500 with a year-to-date return of 14.66% compared to the index's 2.44%, reinforcing its current valuation stance.