Key Points
- Director Lawrence Seidman purchased 10,000 BWFG shares at an average price of $66.63, investing $666,300 and increasing his holdings by 4.7% to 222,690 shares.
- Bankwell Financial Group reported quarterly EPS of $1.52, beating the $1.29 consensus estimate, while revenue of $32.78 million also exceeded expectations.
- The company declared a quarterly dividend of $0.20 per share, equal to an annualized $0.80 payout and a 1.2% yield. Analysts maintain a consensus “Buy” rating with an average price target of $67.50.
Bankwell Financial Group, Inc. (NASDAQ:BWFG - Get Free Report) Director Lawrence Seidman bought 10,000 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The stock was acquired at an average price of $66.63 per share, for a total transaction of $666,300.00. Following the transaction, the director owned 222,690 shares in the company, valued at $14,837,834.70. This trade represents a 4.70% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Bankwell Financial Group Stock Performance
Bankwell Financial Group stock opened at $66.83 on Tuesday. The firm has a fifty day simple moving average of $59.50 and a two-hundred day simple moving average of $53.11. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.31. Bankwell Financial Group, Inc. has a twelve month low of $39.51 and a twelve month high of $69.59. The company has a market capitalization of $532.64 million, a PE ratio of 12.49 and a beta of 0.59.
Bankwell Financial Group (NASDAQ:BWFG - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $1.52 EPS for the quarter, topping the consensus estimate of $1.29 by $0.23. Bankwell Financial Group had a return on equity of 13.94% and a net margin of 19.80%.The firm had revenue of $32.78 million for the quarter, compared to the consensus estimate of $30.63 million. Research analysts expect that Bankwell Financial Group, Inc. will post 5.7 EPS for the current year.
Bankwell Financial Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, August 10th. Bankwell Financial Group's dividend payout ratio (DPR) is presently 14.95%.
Institutional Trading of Bankwell Financial Group
Several large investors have recently bought and sold shares of BWFG. Barclays PLC grew its stake in Bankwell Financial Group by 1.3% in the third quarter. Barclays PLC now owns 24,040 shares of the bank's stock worth $1,064,000 after purchasing an additional 307 shares during the period. BNP Paribas Financial Markets raised its holdings in Bankwell Financial Group by 38.8% in the second quarter. BNP Paribas Financial Markets now owns 1,124 shares of the bank's stock worth $40,000 after purchasing an additional 314 shares in the last quarter. GM Advisory Group LLC lifted its position in Bankwell Financial Group by 0.4% during the first quarter. GM Advisory Group LLC now owns 106,498 shares of the bank's stock valued at $5,167,000 after buying an additional 439 shares during the period. Russell Investments Group Ltd. lifted its position in Bankwell Financial Group by 585.0% during the third quarter. Russell Investments Group Ltd. now owns 685 shares of the bank's stock valued at $30,000 after buying an additional 585 shares during the period. Finally, Empowered Funds LLC boosted its holdings in shares of Bankwell Financial Group by 3.4% during the 1st quarter. Empowered Funds LLC now owns 21,262 shares of the bank's stock valued at $642,000 after buying an additional 702 shares in the last quarter. 35.80% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on BWFG shares. Hovde Group increased their price objective on Bankwell Financial Group from $51.00 to $63.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. Wall Street Zen downgraded shares of Bankwell Financial Group from a "buy" rating to a "hold" rating in a research note on Sunday, May 3rd. Keefe, Bruyette & Woods upped their price target on shares of Bankwell Financial Group from $62.00 to $72.00 and gave the company an "outperform" rating in a report on Tuesday, July 28th. Weiss Ratings cut shares of Bankwell Financial Group from a "buy (b+)" rating to a "buy (b)" rating in a research report on Wednesday, June 24th. Finally, Zacks Research raised shares of Bankwell Financial Group from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $67.50.
Read Our Latest Report on Bankwell Financial Group
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.
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