Hovde Group Forecasts Strong Price Appreciation for Bankwell Financial Group (NASDAQ:BWFG) Stock

Key Points

• Hovde Group has raised its price target for Bankwell Financial Group from $38.50 to $42.00, indicating a potential upside of 5.47% from the previous close.
• Bankwell Financial Group's stock has seen a significant increase of 6.5%, with the current market price opening at $39.82.
• Insider selling activity was reported, with EVP Steven H. Brunner selling 807 shares at an average price of $33.36, resulting in a 34.27% decrease in ownership.

Bankwell Financial Group (NASDAQ:BWFG - Get Free Report) had its price target lifted by research analysts at Hovde Group from $38.50 to $42.00 in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm currently has a "market perform" rating on the bank's stock. Hovde Group's price objective would suggest a potential upside of 7.44% from the stock's current price.

A number of other brokerages have also recently commented on BWFG. Wall Street Zen cut Bankwell Financial Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Keefe, Bruyette & Woods increased their price target on Bankwell Financial Group from $40.00 to $42.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Finally, Raymond James Financial began coverage on Bankwell Financial Group in a research note on Thursday, June 26th. They set a "market perform" rating on the stock.

Bankwell Financial Group Price Performance

NASDAQ:BWFG traded down $0.81 during trading hours on Tuesday, reaching $39.09. 39,282 shares of the company traded hands, compared to its average volume of 27,484. The firm's 50-day moving average is $36.54 and its 200-day moving average is $32.97. The stock has a market cap of $307.64 million, a P/E ratio of 15.15 and a beta of 0.71. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.05 and a quick ratio of 1.05. Bankwell Financial Group has a 1-year low of $24.83 and a 1-year high of $41.13.

Bankwell Financial Group (NASDAQ:BWFG - Get Free Report) last announced its earnings results on Monday, July 28th. The bank reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.28. The firm had revenue of $47.14 million for the quarter, compared to analysts' expectations of $24.20 million. Bankwell Financial Group had a return on equity of 7.52% and a net margin of 10.27%.

Insider Buying and Selling at Bankwell Financial Group

In other Bankwell Financial Group news, insider Ryan Jason Hildebrand sold 1,282 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $36.86, for a total transaction of $47,254.52. Following the transaction, the insider owned 2,051 shares of the company's stock, valued at $75,599.86. This represents a 38.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders acquired 1,306 shares of company stock worth $46,585. Corporate insiders own 19.48% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BWFG. GAMMA Investing LLC raised its position in shares of Bankwell Financial Group by 3,002.9% in the 1st quarter. GAMMA Investing LLC now owns 1,086 shares of the bank's stock worth $36,000 after buying an additional 1,051 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Bankwell Financial Group by 655.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,564 shares of the bank's stock worth $49,000 after buying an additional 1,357 shares during the period. Deutsche Bank AG purchased a new position in shares of Bankwell Financial Group in the 4th quarter worth $104,000. Strs Ohio purchased a new position in shares of Bankwell Financial Group in the 1st quarter worth $148,000. Finally, Trexquant Investment LP purchased a new position in shares of Bankwell Financial Group in the 1st quarter worth $204,000. 35.80% of the stock is owned by hedge funds and other institutional investors.

About Bankwell Financial Group

Bankwell Financial Group, Inc operates as the bank holding company for Bankwell Bank that provides various banking services for individual and commercial customers. It offers various traditional depository products, including checking, savings, money market, and certificates of deposit. The company also provides first mortgage loans secured by one-to-four family owner occupied residential properties for personal use; home equity loans and home equity lines of credit secured by owner occupied one-to-four family residential properties; loans secured by commercial real estate, multi-family dwellings, owner-occupied commercial real estate, and investor-owned one-to-four family dwellings; commercial construction loans for commercial development projects, including apartment buildings and condominiums, as well as office buildings, retail, and other income producing properties; land loans; commercial business loans secured by assignments of corporate assets and personal guarantees of the business owners; loans to finance insurance premiums; overdraft lines of credit; and unsecured personal loans.