Bankwell Financial Group (NASDAQ:BWFG) Sets New 52-Week High Following Analyst Upgrade

Bankwell Financial Group, Inc. (NASDAQ:BWFG) shares hit a new 52-week high on Monday after Hovde Group raised their price target on the stock from $51.00 to $63.00. Hovde Group currently has a market perform rating on the stock. Bankwell Financial Group traded as high as $63.32 and last traded at $63.23, with a volume of 6700 shares. The stock had previously closed at $62.21.

Several other analysts have also recently issued reports on BWFG. 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 research note on Sunday, May 3rd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

Insiders Place Their Bets

In other news, Director Todd Lampert sold 3,500 shares of the company’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 sale, the director directly owned 12,366 shares of the company’s stock, valued at approximately $662,693.94. This represents a 22.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christine Chivily sold 4,321 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $52.16, for a total transaction of $225,383.36. Following the sale, the executive vice president owned 11,865 shares of the company’s stock, valued at $618,878.40. This trade represents a 26.70% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders bought 7,156 shares of company stock valued at $370,525 and sold 8,909 shares valued at $476,575. 20.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bankwell Financial Group

A number of hedge funds and other institutional investors have recently bought and sold shares of BWFG. Legato Capital Management LLC purchased a new position in shares of Bankwell Financial Group in the 4th quarter valued at about $443,000. Strs Ohio purchased a new stake in Bankwell Financial Group during the first quarter worth about $148,000. BNP Paribas Financial Markets boosted its holdings in Bankwell Financial Group by 93.5% during the third quarter. BNP Paribas Financial Markets now owns 2,175 shares of the bank’s stock worth $96,000 after buying an additional 1,051 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Bankwell Financial Group by 523.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock worth $72,000 after buying an additional 1,675 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Bankwell Financial Group in the second quarter valued at about $63,000. Institutional investors and hedge funds own 35.80% of the company’s stock.

Bankwell Financial Group Stock Performance

The stock’s fifty day simple moving average is $56.47 and its 200-day simple moving average is $51.69. 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 company has a market capitalization of $513.22 million, a PE ratio of 12.03 and a beta of 0.61.

Bankwell Financial Group (NASDAQ:BWFG) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $1.52 EPS for the quarter, topping the consensus estimate of $1.29 by $0.23. The business had revenue of $32.78 million for the quarter, compared to analyst estimates of $30.63 million. Bankwell Financial Group had a return on equity of 14.19% and a net margin of 19.80%. On average, research analysts predict that Bankwell Financial Group, Inc. will post 5.35 earnings per share for the current fiscal year.

Bankwell Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, August 10th. Bankwell Financial Group’s dividend payout ratio (DPR) is 14.95%.

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.