Hovde Group Issues Positive Forecast for Bankwell Financial Group (NASDAQ:BWFG) Stock Price

Bankwell Financial Group (NASDAQ:BWFG) had its price objective lifted by Hovde Group from $51.00 to $63.00 in a research note issued to investors on Monday, MarketBeat Ratings reports. They currently have a market perform rating on the bank’s stock.

BWFG has been the topic of several other research reports. Weiss Ratings downgraded shares of Bankwell Financial Group from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 24th. Wall Street Zen downgraded shares of Bankwell Financial Group from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.00.

Bankwell Financial Group Stock Up 3.5%

Shares of NASDAQ:BWFG opened at $64.37 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.05. Bankwell Financial Group has a 52-week low of $38.20 and a 52-week high of $64.61. The business’s 50 day simple moving average is $56.47 and its two-hundred day simple moving average is $51.69. The firm has a market cap of $513.22 million, a P/E ratio of 12.03 and a beta of 0.61.

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

Bankwell Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, August 10th. Bankwell Financial Group’s payout ratio is currently 14.95%.

Insider Buying and Selling at Bankwell Financial Group

In other Bankwell Financial Group news, EVP Christine Chivily sold 4,321 shares of the stock in a transaction on 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 in the company, valued at $618,878.40. This represents a 26.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Todd Lampert sold 3,500 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was 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 of the company’s stock, valued at $662,693.94. The trade was a 22.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have purchased 7,156 shares of company stock worth $370,525 and have sold 8,909 shares worth $476,575. 20.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Bankwell Financial Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its holdings in shares of Bankwell Financial Group by 585.0% in the third quarter. Russell Investments Group Ltd. now owns 685 shares of the bank’s stock worth $30,000 after buying an additional 585 shares in the last quarter. BNP Paribas Financial Markets increased its holdings 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. purchased a new stake in Bankwell Financial Group in the 2nd quarter worth approximately $63,000. Tower Research Capital LLC TRC lifted its stake in 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 worth $72,000 after purchasing an additional 1,675 shares in the last quarter. Finally, Assetmark Inc. bought a new position in Bankwell Financial Group in the 1st quarter valued at $146,000. 35.80% of the stock is currently owned by institutional investors.

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.