Bankwell Financial Group (NASDAQ:BWFG) Reaches New 1-Year High – Here’s Why

Bankwell Financial Group, Inc. (NASDAQ:BWFG) hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $73.74 and last traded at $73.3730, with a volume of 22,051 shares changing hands. The stock had previously closed at $71.68.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Zacks Research upgraded Bankwell Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Monday. Weiss Ratings downgraded Bankwell Financial Group from a “buy (a)” rating to a “buy (a-)” rating in a report on Monday, October 26th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $79.00 price objective (up from $72.00) on shares of Bankwell Financial Group in a report on Friday, October 30th. Finally, Hovde Group increased their target price on Bankwell Financial Group from $51.00 to $63.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Bankwell Financial Group presently has a consensus rating of “Buy” and a consensus target price of $71.00.

Bankwell Financial Group Stock Up 2.4%

The business’s fifty day moving average is $66.63 and its two-hundred day moving average is $57.11. The stock has a market cap of $585.16 million, a price-to-earnings ratio of 12.96 and a beta of 0.58. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.31.

Bankwell Financial Group (NASDAQ:BWFG) last released its earnings results on Thursday, October 29th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.14. Bankwell Financial Group had a return on equity of 14.58% and a net margin of 20.49%. The firm had revenue of $35.33 million during the quarter, compared to analyst estimates of $33.33 million. Equities analysts forecast that Bankwell Financial Group, Inc. will post 6.12 earnings per share for the current fiscal year.

Bankwell Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Monday, November 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, November 9th. Bankwell Financial Group’s payout ratio is 14.13%.

Insiders Place Their Bets

In other news, Director Eric Dale purchased 530 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was purchased at an average cost of $67.11 per share, with a total value of $35,568.30. Following the completion of the acquisition, the director directly owned 43,026 shares of the company’s stock, valued at approximately $2,887,474.86. This trade represents a 1.25% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Lawrence Seidman purchased 10,000 shares of Bankwell Financial Group stock in a transaction dated Friday, August 7th. The stock was acquired at an average cost of $66.63 per share, with a total value of $666,300.00. Following the completion of the acquisition, the director directly owned 222,690 shares in the company, valued at approximately $14,837,834.70. This trade represents a 4.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have acquired 19,040 shares of company stock valued at $1,269,057. 20.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BWFG. State of Alaska Department of Revenue grew its holdings in Bankwell Financial Group by 69.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 728 shares of the bank’s stock valued at $46,000 after buying an additional 299 shares during the last quarter. Corient Private Wealth LP raised its holdings in shares of Bankwell Financial Group by 1.5% in the second quarter. Corient Private Wealth LP now owns 22,223 shares of the bank’s stock worth $1,306,000 after acquiring an additional 320 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of Bankwell Financial Group in the second quarter worth $37,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Bankwell Financial Group in the third quarter valued at $49,000. Finally, Hsbc Holdings PLC lifted its position in shares of Bankwell Financial Group by 4.9% in the first quarter. Hsbc Holdings PLC now owns 19,870 shares of the bank’s stock valued at $967,000 after acquiring an additional 932 shares in the last quarter. 35.80% of the stock is currently owned by institutional investors and hedge funds.

About Bankwell Financial Group

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.