Equities research analysts forecast that Bankwell Financial Group Inc (NASDAQ:BWFG) will report $14.75 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Bankwell Financial Group’s earnings, with the lowest sales estimate coming in at $14.70 million and the highest estimate coming in at $14.80 million. Bankwell Financial Group reported sales of $15.04 million in the same quarter last year, which would suggest a negative year over year growth rate of 1.9%. The company is scheduled to report its next quarterly earnings report on Wednesday, April 24th.
According to Zacks, analysts expect that Bankwell Financial Group will report full year sales of $60.10 million for the current financial year, with estimates ranging from $59.70 million to $60.50 million. For the next year, analysts forecast that the company will post sales of $62.45 million, with estimates ranging from $61.60 million to $63.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Bankwell Financial Group.
Bankwell Financial Group (NASDAQ:BWFG) last released its earnings results on Wednesday, January 30th. The bank reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.03. Bankwell Financial Group had a return on equity of 11.01% and a net margin of 20.76%. The firm had revenue of $15.07 million for the quarter, compared to analysts’ expectations of $15.00 million.
A number of equities research analysts have recently issued reports on the company. ValuEngine upgraded Bankwell Financial Group from a “sell” rating to a “hold” rating in a research note on Friday, February 22nd. Zacks Investment Research upgraded Bankwell Financial Group from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $34.67.
Shares of Bankwell Financial Group stock traded up $0.01 on Friday, reaching $29.22. 36,743 shares of the company were exchanged, compared to its average volume of 22,153. Bankwell Financial Group has a one year low of $26.39 and a one year high of $35.13. The stock has a market cap of $234.63 million, a P/E ratio of 12.23 and a beta of 0.40. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.06.
The firm also recently announced a quarterly dividend, which was paid on Monday, February 25th. Investors of record on Friday, February 15th were issued a dividend of $0.13 per share. The ex-dividend date was Thursday, February 14th. This is a positive change from Bankwell Financial Group’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.78%. Bankwell Financial Group’s payout ratio is presently 21.76%.
In related news, EVP Heidi Dewyngaert sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $30.00, for a total transaction of $45,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Todd Lampert sold 1,662 shares of the business’s stock in a transaction that occurred on Friday, December 21st. The stock was sold at an average price of $26.78, for a total value of $44,508.36. Following the transaction, the director now directly owns 15,376 shares in the company, valued at $411,769.28. The disclosure for this sale can be found here. 21.87% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in Bankwell Financial Group by 5.1% in the 4th quarter. Geode Capital Management LLC now owns 67,477 shares of the bank’s stock valued at $1,937,000 after buying an additional 3,263 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Bankwell Financial Group by 30.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 99,389 shares of the bank’s stock valued at $2,853,000 after acquiring an additional 22,973 shares during the period. Bank of America Corp DE lifted its position in shares of Bankwell Financial Group by 91.5% during the 4th quarter. Bank of America Corp DE now owns 3,992 shares of the bank’s stock valued at $115,000 after acquiring an additional 1,907 shares during the period. Summit Trail Advisors LLC lifted its position in shares of Bankwell Financial Group by 167.2% during the 4th quarter. Summit Trail Advisors LLC now owns 88,438 shares of the bank’s stock valued at $2,539,000 after acquiring an additional 55,337 shares during the period. Finally, Clover Partners L.P. lifted its position in shares of Bankwell Financial Group by 64.3% during the 4th quarter. Clover Partners L.P. now owns 70,592 shares of the bank’s stock valued at $2,027,000 after acquiring an additional 27,614 shares during the period. 52.46% of the stock is currently owned by hedge funds and other institutional investors.
About Bankwell Financial Group
Bankwell Financial Group, Inc operates as the bank holding company for Bankwell Bank that provides a range of banking services to commercial and consumer customers in Connecticut. It accepts checking, savings, and money market accounts; and demand and NOW deposits, as well as certificates of deposit.
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