Bankwell Financial Group (NASDAQ:BWFG) Sets New 12-Month High – Here’s What Happened

Bankwell Financial Group, Inc. (NASDAQ:BWFG) shares reached a new 52-week high on Monday . The company traded as high as $69.59 and last traded at $68.8260, with a volume of 4495 shares trading hands. The stock had previously closed at $68.15.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BWFG. Hovde Group upped 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 downgraded Bankwell Financial Group from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 24th. Wall Street Zen downgraded Bankwell Financial Group from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Zacks Research raised Bankwell Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Finally, Keefe, Bruyette & Woods increased their target price on Bankwell Financial Group from $62.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $67.50.

Bankwell Financial Group Trading Down 0.0%

The stock has a market cap of $537.94 million, a P/E ratio of 12.62 and a beta of 0.59. The stock’s 50-day moving average is $58.33 and its two-hundred day moving average is $52.57. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.05 and a quick ratio of 1.05.

Bankwell Financial Group (NASDAQ:BWFG) last announced its quarterly 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 for the quarter, compared to the consensus estimate of $30.63 million. Bankwell Financial Group had a net margin of 19.80% and a return on equity of 14.19%. Equities research analysts anticipate that Bankwell Financial Group, Inc. will post 5.7 EPS for the current year.

Bankwell Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, August 10th. Bankwell Financial Group’s payout ratio is 14.95%.

Insider Transactions at Bankwell Financial Group

In other news, Director Lawrence B. Seidman acquired 3,300 shares of Bankwell Financial Group stock in a transaction on Monday, June 1st. The shares were acquired at an average price of $51.87 per share, with a total value of $171,171.00. Following the purchase, the director directly owned 218,756 shares in the company, valued at $11,346,873.72. The trade was a 1.53% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric J. Dale acquired 588 shares of Bankwell Financial Group stock in a transaction on Friday, June 5th. The stock was purchased at an average cost of $53.70 per share, for a total transaction of $31,575.60. Following the purchase, the director owned 42,496 shares in the company, valued at approximately $2,282,035.20. The trade was a 1.40% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 7,156 shares of company stock valued at $370,525 and have sold 6,834 shares valued at $401,089. Corporate insiders own 20.98% of the company’s stock.

Institutional Investors Weigh In On Bankwell Financial Group

Several large investors have recently bought and sold shares of BWFG. Barclays PLC raised its stake in Bankwell Financial Group by 1.3% during the third quarter. Barclays PLC now owns 24,040 shares of the bank’s stock valued at $1,064,000 after purchasing an additional 307 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Bankwell Financial Group by 38.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,124 shares of the bank’s stock worth $40,000 after buying an additional 314 shares in the last quarter. GM Advisory Group LLC increased its holdings in shares of Bankwell Financial Group by 0.4% in the 1st quarter. GM Advisory Group LLC now owns 106,498 shares of the bank’s stock worth $5,167,000 after buying an additional 439 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Bankwell Financial Group by 585.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 685 shares of the bank’s stock worth $30,000 after buying an additional 585 shares during the last quarter. Finally, Empowered Funds LLC raised its position 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. Institutional investors own 35.80% of the company’s stock.

Bankwell Financial Group Company Profile

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.