Key Points
- Director Lawrence Seidman bought 5,266 BWFG shares at an average price of $66.94, investing approximately $352,506 and increasing his ownership by 2.39%.
- Bankwell Financial Group reported quarterly EPS of $1.52, exceeding the $1.29 consensus estimate, while revenue of $32.78 million also surpassed expectations.
- Analysts maintain a consensus “Buy” rating with a $67.50 target price; the company also pays a quarterly dividend of $0.20 per share, equivalent to a 1.2% annual yield.
Bankwell Financial Group, Inc. (NASDAQ:BWFG - Get Free Report) Director Jeffrey Dunne purchased 261 shares of Bankwell Financial Group stock in a transaction that occurred on Tuesday, September 8th. The stock was acquired at an average cost of $67.11 per share, with a total value of $17,515.71. Following the transaction, the director owned 6,381 shares in the company, valued at $428,228.91. This trade represents a 4.26% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Bankwell Financial Group Stock Up 0.8%
Bankwell Financial Group stock opened at $66.71 on Thursday. Bankwell Financial Group, Inc. has a 1-year low of $40.44 and a 1-year high of $69.59. The firm has a market capitalization of $531.68 million, a price-to-earnings ratio of 12.47 and a beta of 0.58. The firm's fifty day moving average price is $64.19 and its two-hundred day moving average price is $55.88. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.31.
Bankwell Financial Group (NASDAQ:BWFG - Get Free Report) last issued its quarterly earnings data 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. Bankwell Financial Group had a net margin of 19.80% and a return on equity of 13.94%. The firm had revenue of $32.78 million during the quarter, compared to analysts' expectations of $30.63 million. On average, equities research analysts predict that Bankwell Financial Group, Inc. will post 5.7 earnings per share for the current fiscal year.
Bankwell Financial Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 10th were issued 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 of this dividend was Monday, August 10th. Bankwell Financial Group's payout ratio is currently 14.95%.
More Bankwell Financial Group News
Here are the key news stories impacting Bankwell Financial Group this week:
- Positive Sentiment: Director Lawrence Seidman purchased 5,266 shares at an average price of $66.94, investing approximately $352,506 and increasing his position by 2.39%. SEC filing
- Positive Sentiment: Directors Carl Porto, Blake Drexler, Jeffrey Dunne and Eric Dale also bought shares at approximately $67.11 each. Their purchases totaled 1,234 shares, or roughly $82,814, further reinforcing the positive insider-buying signal. Carl Porto SEC filing Blake Drexler SEC filing Jeffrey Dunne SEC filing Eric Dale SEC filing
Analysts Set New Price Targets
BWFG has been the topic of several analyst reports. Zacks Research raised Bankwell Financial Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods increased their price target on Bankwell Financial Group from $62.00 to $72.00 and gave the company an "outperform" rating in a research report on Tuesday, July 28th. Hovde Group raised 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. Finally, Weiss Ratings raised shares of Bankwell Financial Group from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, August 13th. One investment 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 a consensus rating of "Buy" and a consensus price target of $67.50.
Check Out Our Latest Research Report on BWFG
Hedge Funds Weigh In On Bankwell Financial Group
Several institutional investors have recently modified their holdings of the business. Sei Investments Co. grew its position in Bankwell Financial Group by 111.4% during the first quarter. Sei Investments Co. now owns 41,342 shares of the bank's stock valued at $2,006,000 after buying an additional 21,786 shares during the period. Corient Private Wealth LP purchased a new stake in Bankwell Financial Group during the second quarter worth about $1,287,000. Empowered Funds LLC bought a new stake in Bankwell Financial Group in the second quarter worth about $1,891,000. BlackRock Inc. bought a new stake in Bankwell Financial Group in the second quarter worth about $28,974,000. Finally, Bank of New York Mellon Corp purchased a new position in Bankwell Financial Group in the second quarter valued at about $1,377,000. 35.80% of the stock is owned by institutional investors.
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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