Bankwell Financial Group (NASDAQ:BWFG) Price Target Raised to $63.00

Bankwell Financial Group (NASDAQ:BWFG) had its target price hoisted by Hovde Group from $51.00 to $63.00 in a research report report published on Monday, MarketBeat Ratings reports. Hovde Group currently has a market perform rating on the bank’s stock.

Several other research analysts have also commented on BWFG. Weiss Ratings lowered shares of 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 research note on Sunday, May 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $67.50.

Bankwell Financial Group Stock Up 1.8%

NASDAQ:BWFG opened at $68.06 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.42. The stock’s fifty day moving average is $57.10 and its two-hundred day moving average is $51.97. Bankwell Financial Group has a 52 week low of $38.25 and a 52 week high of $68.10. The stock has a market capitalization of $542.44 million, a price-to-earnings ratio of 12.72 and a beta of 0.61.

Bankwell Financial Group (NASDAQ:BWFG) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.23. The business had revenue of $32.78 million during the quarter, compared to analysts’ expectations of $30.63 million. Bankwell Financial Group had a return on equity of 14.19% and a net margin of 19.80%. Research analysts anticipate that Bankwell Financial Group will post 5.7 EPS for the current year.

Bankwell Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 10th will be given a dividend of $0.20 per share. 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 dividend payout ratio is currently 14.95%.

Insider Buying and Selling at Bankwell Financial Group

In other Bankwell Financial Group news, insider Ryan Jason Hildebrand sold 1,088 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $58.48, for a total value of $63,626.24. Following the transaction, the insider directly owned 2,246 shares in the company, valued at $131,346.08. This represents a 32.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lawrence B. Seidman bought 3,300 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were purchased at an average price of $51.87 per share, for a total transaction of $171,171.00. Following the transaction, the director directly owned 218,756 shares of the company’s stock, valued at approximately $11,346,873.72. This represents a 1.53% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 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 have recently modified their holdings of BWFG. Russell Investments Group Ltd. increased its position in Bankwell Financial Group by 585.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 685 shares of the bank’s stock valued at $30,000 after acquiring an additional 585 shares during the period. BNP Paribas Financial Markets lifted its position in Bankwell Financial Group by 38.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,124 shares of the bank’s stock worth $40,000 after acquiring an additional 314 shares during the period. Raymond James Financial Inc. acquired a new stake in Bankwell Financial Group during the 2nd quarter worth approximately $63,000. Tower Research Capital LLC TRC grew its stake in shares of Bankwell Financial Group by 523.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock valued at $72,000 after purchasing an additional 1,675 shares during the last quarter. Finally, Assetmark Inc. purchased a new position in shares of Bankwell Financial Group in the 1st quarter valued at approximately $146,000. 35.80% of the stock is currently owned by hedge funds and other institutional investors.

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.