Key Points
- Director Jeffrey Dunne bought 315 shares of Bankwell Financial Group on June 5 at an average price of $53.70, increasing his direct holdings by 5.43% to 6,120 shares.
- Bankwell Financial Group recently reported better-than-expected quarterly earnings of $1.41 per share, topping analysts’ estimate of $1.23, though revenue came in slightly below forecasts.
- The company also paid a quarterly dividend of $0.20 per share, annualizing to $0.80 and a yield of about 1.4%, while analysts currently rate the stock a Moderate Buy.
Bankwell Financial Group, Inc. (NASDAQ:BWFG - Get Free Report) Director Jeffrey Dunne acquired 315 shares of Bankwell Financial Group stock in a transaction on Friday, June 5th. The shares were bought at an average price of $53.70 per share, with a total value of $16,915.50. Following the purchase, the director directly owned 6,120 shares in the company, valued at approximately $328,644. The trade was a 5.43% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.
Bankwell Financial Group Stock Performance
NASDAQ BWFG opened at $55.31 on Wednesday. The stock has a 50-day simple moving average of $51.71 and a two-hundred day simple moving average of $49.04. The firm has a market capitalization of $440.82 million, a P/E ratio of 11.11 and a beta of 0.62. Bankwell Financial Group, Inc. has a fifty-two week low of $33.85 and a fifty-two week high of $55.68. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.05.
Bankwell Financial Group (NASDAQ:BWFG - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.18. The business had revenue of $30.23 million during the quarter, compared to analyst estimates of $30.47 million. Bankwell Financial Group had a return on equity of 13.31% and a net margin of 18.71%. On average, equities analysts forecast that Bankwell Financial Group, Inc. will post 5.35 earnings per share for the current year.
Bankwell Financial Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Friday, May 8th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, May 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.4%. Bankwell Financial Group's dividend payout ratio (DPR) is presently 16.06%.
Hedge Funds Weigh In On Bankwell Financial Group
Institutional investors and hedge funds have recently modified their holdings of the business. Hillsdale Investment Management Inc. purchased a new position in shares of Bankwell Financial Group in the 3rd quarter valued at about $4,280,000. Legato Capital Management LLC purchased a new position in shares of Bankwell Financial Group in the 4th quarter valued at about $443,000. Empowered Funds LLC increased its stake in shares of Bankwell Financial Group by 9.9% in the 1st quarter. Empowered Funds LLC now owns 29,942 shares of the bank's stock valued at $1,453,000 after purchasing an additional 2,689 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Bankwell Financial Group by 4.9% in the 1st quarter. Hsbc Holdings PLC now owns 19,870 shares of the bank's stock valued at $967,000 after purchasing an additional 932 shares in the last quarter. Finally, Assetmark Inc. purchased a new position in shares of Bankwell Financial Group in the 1st quarter valued at about $146,000. Hedge funds and other institutional investors own 35.80% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. Weiss Ratings upgraded Bankwell Financial Group from a "buy (b)" rating to a "buy (b+)" rating in a research note on Monday, May 11th. Wall Street Zen lowered Bankwell Financial Group from a "buy" rating to a "hold" rating in a research note on Sunday, May 3rd. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $52.00.
Check Out Our Latest Report on BWFG
Bankwell Financial Group Company Profile
(
Get Free Report)
Bankwell Financial Group, Inc is a bank holding company headquartered in New Canaan, Connecticut, and serves as the parent company of Bankwell Bank. Bankwell Bank provides commercial, business and personal banking services, with branch locations primarily across Fairfield and New Haven counties in Connecticut, along with a New York presence.
The company’s deposit offerings include checking, savings and money market accounts, as well as certificates of deposit, all supported by an online and mobile banking platform for convenient account access.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
