Key Points
- Director Lawrence Seidman purchased 2,540 BWFG shares at an average price of $65.92, investing approximately $167,437 and increasing his ownership by 1.15% to 223,684 shares.
- Bankwell Financial Group recently beat quarterly expectations, reporting $1.52 EPS versus the $1.29 consensus and revenue of $32.78 million versus $30.63 million expected.
- Analyst sentiment is broadly positive: the stock has an average “Buy” rating and a $67.50 target price, while shares recently opened at $65.65 and pay a $0.20 quarterly dividend.
Bankwell Financial Group, Inc. (NASDAQ:BWFG - Get Free Report) Director Lawrence Seidman acquired 2,540 shares of the firm's stock in a transaction dated Tuesday, August 25th. The stock was purchased at an average cost of $65.92 per share, with a total value of $167,436.80. Following the transaction, the director owned 223,684 shares in the company, valued at approximately $14,745,249.28. This trade represents a 1.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.
Bankwell Financial Group Price Performance
Shares of BWFG opened at $65.65 on Thursday. The firm has a market capitalization of $523.36 million, a PE ratio of 12.27 and a beta of 0.59. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.03 and a quick ratio of 1.03. Bankwell Financial Group, Inc. has a fifty-two week low of $40.44 and a fifty-two week high of $69.59. The company's 50-day moving average is $62.52 and its 200-day moving average is $54.66.
Bankwell Financial Group (NASDAQ:BWFG - Get Free Report) last announced its earnings results on Thursday, July 23rd. The bank reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.23. The company had revenue of $32.78 million during the quarter, compared to analysts' expectations of $30.63 million. Bankwell Financial Group had a net margin of 19.80% and a return on equity of 13.94%. Equities analysts forecast that Bankwell Financial Group, Inc. will post 5.7 EPS for the current year.
Bankwell Financial Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, August 10th. Bankwell Financial Group's dividend payout ratio is currently 14.95%.
Institutional Investors Weigh In On Bankwell Financial Group
Hedge funds and other institutional investors have recently bought and sold shares of the business. Sei Investments Co. increased its position in shares of Bankwell Financial Group by 111.4% in the first quarter. Sei Investments Co. now owns 41,342 shares of the bank's stock worth $2,006,000 after purchasing an additional 21,786 shares during the last quarter. Legato Capital Management LLC purchased a new stake in Bankwell Financial Group during the 4th quarter valued at about $443,000. Ieq Capital LLC bought a new stake in Bankwell Financial Group during the 2nd quarter valued at $304,000. GSA Capital Partners LLP purchased a new stake in shares of Bankwell Financial Group during the second quarter worth about $235,000. Finally, Empowered Funds LLC lifted its holdings in Bankwell Financial Group by 9.9% in the 1st quarter. Empowered Funds LLC now owns 29,942 shares of the bank's stock worth $1,453,000 after buying an additional 2,689 shares during the period. Institutional investors own 35.80% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on BWFG shares. Hovde Group boosted their target price on shares of Bankwell Financial Group from $51.00 to $63.00 and gave the stock a "market perform" rating in a report on Monday, July 27th. Weiss Ratings upgraded Bankwell Financial Group from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, August 13th. Keefe, Bruyette & Woods lifted their target price on Bankwell Financial Group from $62.00 to $72.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 28th. Zacks Research upgraded Bankwell Financial Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Finally, Wall Street Zen downgraded Bankwell Financial Group from a "buy" rating to a "hold" rating in a research report on Sunday, May 3rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Bankwell Financial Group currently has an average rating of "Buy" and an average target price of $67.50.
View Our Latest Research Report on Bankwell Financial Group
About Bankwell Financial Group
(
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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