Bankwell Financial Group’s (BWFG) “Outperform” Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their outperform rating on shares of Bankwell Financial Group (NASDAQ:BWFG) in a report published on Wednesday, Benzinga reports. The brokerage currently has a $34.00 price target on the bank’s stock.

Bankwell Financial Group Stock Up 0.8 %

NASDAQ BWFG opened at $29.84 on Wednesday. Bankwell Financial Group has a 12 month low of $22.47 and a 12 month high of $31.09. The company has a market capitalization of $235.68 million, a P/E ratio of 7.77 and a beta of 0.83. The company’s 50 day simple moving average is $28.88 and its 200 day simple moving average is $26.15. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.06 and a quick ratio of 1.06.

Bankwell Financial Group (NASDAQ:BWFG) last posted its quarterly earnings results on Wednesday, July 24th. The bank reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.04. The company had revenue of $48.36 million for the quarter. Bankwell Financial Group had a return on equity of 8.76% and a net margin of 11.76%.

Bankwell Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 12th were given a $0.20 dividend. The ex-dividend date was Monday, August 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.68%. Bankwell Financial Group’s dividend payout ratio (DPR) is 20.83%.

Insiders Place Their Bets

In other news, Director Kevin D. Leitao acquired 2,500 shares of Bankwell Financial Group stock in a transaction on Monday, July 29th. The stock was bought at an average cost of $26.83 per share, with a total value of $67,075.00. Following the completion of the purchase, the director now owns 2,500 shares of the company’s stock, valued at $67,075. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Kevin D. Leitao bought 2,500 shares of the business’s stock in a transaction on Monday, July 29th. The shares were bought at an average cost of $26.83 per share, with a total value of $67,075.00. Following the purchase, the director now directly owns 2,500 shares in the company, valued at $67,075. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Christine Chivily sold 1,815 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 14,449 shares of the company’s stock, valued at approximately $402,838.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 2,691 shares of company stock worth $72,620. Company insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Bankwell Financial Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Empowered Funds LLC lifted its position in shares of Bankwell Financial Group by 7.6% in the first quarter. Empowered Funds LLC now owns 17,444 shares of the bank’s stock worth $452,000 after purchasing an additional 1,225 shares in the last quarter. Vanguard Group Inc. increased its stake in Bankwell Financial Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 329,246 shares of the bank’s stock valued at $8,541,000 after buying an additional 1,933 shares during the period. BNP Paribas Financial Markets lifted its position in Bankwell Financial Group by 119.9% in the 1st quarter. BNP Paribas Financial Markets now owns 2,901 shares of the bank’s stock worth $75,000 after buying an additional 1,582 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Bankwell Financial Group by 42.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,875 shares of the bank’s stock valued at $124,000 after buying an additional 1,449 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Bankwell Financial Group by 6.2% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 35.80% of the company’s stock.

About Bankwell Financial Group

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.