Summit Trail Advisors LLC Decreases Holdings in Bankwell Financial Group, Inc. (NASDAQ:BWFG)

Summit Trail Advisors LLC lowered its stake in Bankwell Financial Group, Inc. (NASDAQ:BWFG) by 7.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,035 shares of the bank’s stock after selling 2,123 shares during the period. Summit Trail Advisors LLC’s holdings in Bankwell Financial Group were worth $840,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of Bankwell Financial Group by 42.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,875 shares of the bank’s stock worth $124,000 after purchasing an additional 1,449 shares during the period. Empowered Funds LLC boosted its stake in Bankwell Financial Group by 5.0% during the third quarter. Empowered Funds LLC now owns 19,642 shares of the bank’s stock worth $588,000 after buying an additional 938 shares during the period. Bank of New York Mellon Corp increased its position in Bankwell Financial Group by 6.2% during the second quarter. Bank of New York Mellon Corp now owns 28,548 shares of the bank’s stock valued at $724,000 after acquiring an additional 1,676 shares during the last quarter. GM Advisory Group LLC raised its stake in shares of Bankwell Financial Group by 7.7% in the second quarter. GM Advisory Group LLC now owns 89,154 shares of the bank’s stock valued at $2,262,000 after acquiring an additional 6,341 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Bankwell Financial Group by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 279,867 shares of the bank’s stock worth $7,100,000 after acquiring an additional 755 shares during the last quarter. 35.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bankwell Financial Group

In related news, EVP Christine Chivily sold 1,815 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $27.88, for a total value of $50,602.20. Following the transaction, the executive vice president now owns 14,449 shares of the company’s stock, valued at $402,838.12. This represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 19.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $34.00 price target on shares of Bankwell Financial Group in a report on Wednesday, October 16th.

Bankwell Financial Group Trading Up 4.0 %

Shares of NASDAQ BWFG opened at $34.54 on Tuesday. Bankwell Financial Group, Inc. has a fifty-two week low of $22.47 and a fifty-two week high of $34.79. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market cap of $271.48 million, a price-to-earnings ratio of 17.03 and a beta of 0.83. The business’s 50 day moving average price is $30.05 and its 200-day moving average price is $27.32.

Bankwell Financial Group (NASDAQ:BWFG) last released its earnings results on Monday, October 28th. The bank reported $0.24 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.32. The business had revenue of $49.35 million during the quarter. Bankwell Financial Group had a return on equity of 5.74% and a net margin of 7.77%.

Bankwell Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.32%. Bankwell Financial Group’s dividend payout ratio is currently 41.03%.

Bankwell Financial Group Profile

Bankwell Financial Group, Inc operates as the bank holding company for Bankwell Bank that provides various banking services for individual and commercial customers. It offers various traditional depository products, including checking, savings, money market, and certificates of deposit. The company also provides first mortgage loans secured by one-to-four family owner occupied residential properties for personal use; home equity loans and home equity lines of credit secured by owner occupied one-to-four family residential properties; loans secured by commercial real estate, multi-family dwellings, owner-occupied commercial real estate, and investor-owned one-to-four family dwellings; commercial construction loans for commercial development projects, including apartment buildings and condominiums, as well as office buildings, retail, and other income producing properties; land loans; commercial business loans secured by assignments of corporate assets and personal guarantees of the business owners; loans to finance insurance premiums; overdraft lines of credit; and unsecured personal loans.