Is BWB or BY more undervalued in 2026?

CirclFi compares Bridgewater Bancshares, Inc. (BWB) and Byline Bancorp, Inc. (BY) using 13 institutional-grade valuation models. BWB has a Quality of Company score of 7.5/10 while BY scores 9.0/10.

Which is a better buy — BWB or BY?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do BWB and BY valuations compare?

BWB at $18.98 and BY at $33.14 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

BWB vs BY Valuation Comparison 2026 — Intrinsic Value Analysis

BWB

Banks - Regional

Bridgewater Bancshares, Inc.

Quality

7.5

out of 10

Value Trap

SAFE

Price

$18.98

Last close

Models

10/13

Active

BY

Banks - Regional

Byline Bancorp, Inc.

Quality

9.0

out of 10

Value Trap

SAFE

Price

$33.14

Last close

Models

11/13

Active

Model-by-Model Comparison

Model	Type	BWB Fair Value	BWB Upside	BY Fair Value	BY Upside
Bayesian DCF	Intrinsic	$13.42	-29.3%	$13.03	-60.7%
Earnings Power Value	Intrinsic	$22.87	+20.5%	$14.36	-56.7%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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BWB vs BY — Which Stock Is More Undervalued?

BY scores higher with a 9.0/10 quality rating vs BWB's 7.5/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Bridgewater Bancshares, Inc. (BWB) and Byline Bancorp, Inc. (BY) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

BWB currently trades at $18.98 with a QOC of 7.5/10, while BY trades at $33.14 with a QOC of 9.0/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).