Bankwell Financial Group (NASDAQ:BWFG) Releases Quarterly Earnings Results, Beats Estimates By $0.23 EPS

Bankwell Financial Group (NASDAQ:BWFG) posted its quarterly earnings data on Thursday. The bank reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.23, FiscalAI reports. 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 return on equity of 13.31% and a net margin of 18.71%.

Bankwell Financial Group Price Performance

NASDAQ BWFG opened at $60.28 on Thursday. Bankwell Financial Group has a 1 year low of $36.22 and a 1 year high of $61.83. The business’s fifty day moving average is $55.78 and its two-hundred day moving average is $51.35. The stock has a market capitalization of $480.43 million, a P/E ratio of 12.21 and a beta of 0.61. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.05.

Wall Street Analyst Weigh In

BWFG has been the subject of several research reports. Weiss Ratings cut Bankwell Financial Group from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 24th. Wall Street Zen downgraded shares of Bankwell Financial Group from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $52.00.

Insider Buying and Selling at Bankwell Financial Group

In other Bankwell Financial Group news, Director Todd Lampert sold 3,500 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $53.59, for a total value of $187,565.00. Following the completion of the transaction, the director directly owned 12,366 shares in the company, valued at $662,693.94. This trade represents a 22.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Eric J. Dale bought 588 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director owned 42,496 shares of the company’s stock, valued at $2,282,035.20. This represents a 1.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 7,156 shares of company stock worth $370,525 and sold 8,909 shares worth $476,575. 20.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Bankwell Financial Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. grew its position in Bankwell Financial Group by 26.5% during the 4th quarter. Invesco Ltd. now owns 7,252 shares of the bank’s stock worth $332,000 after purchasing an additional 1,520 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Bankwell Financial Group by 9.9% in the fourth quarter. Empowered Funds LLC now owns 27,253 shares of the bank’s stock valued at $1,249,000 after purchasing an additional 2,461 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Bankwell Financial Group in the fourth quarter worth $532,000. Millennium Management LLC boosted its position in shares of Bankwell Financial Group by 86.5% in the fourth quarter. Millennium Management LLC now owns 11,424 shares of the bank’s stock worth $523,000 after buying an additional 5,297 shares during the period. Finally, Bridgeway Capital Management LLC grew its holdings in shares of Bankwell Financial Group by 4.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 52,255 shares of the bank’s stock valued at $2,394,000 after buying an additional 2,461 shares in the last quarter. Institutional investors and hedge funds own 35.80% of the company’s stock.

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.