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

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 objective lifted by analysts at Hovde Group from $38.50 to $42.00 in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage currently has a "market perform" rating on the bank's stock. Hovde Group's price objective would suggest a potential upside of 8.42% from the stock's current price.

Other equities research analysts have also issued research reports about the company. Wall Street Zen lowered Bankwell Financial Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Raymond James Financial initiated coverage on shares of Bankwell Financial Group in a research note on Thursday, June 26th. They issued a "market perform" rating on the stock. Finally, Keefe, Bruyette & Woods raised their price objective on Bankwell Financial Group from $40.00 to $42.00 and gave the company an "outperform" rating in a report on Monday, April 28th.

Bankwell Financial Group Price Performance

Shares of NASDAQ:BWFG traded down $0.66 during trading on Tuesday, reaching $38.74. The stock had a trading volume of 29,840 shares, compared to its average volume of 25,214. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $304.88 million, a PE ratio of 15.02 and a beta of 0.66. The business's 50-day moving average price is $36.22 and its 200 day moving average price is $32.78. Bankwell Financial Group has a 52 week low of $24.83 and a 52 week high of $41.13.

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

Insider Transactions at Bankwell Financial Group

In other Bankwell Financial Group news, insider Ryan Jason Hildebrand sold 1,282 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $36.86, for a total value of $47,254.52. Following the completion of the transaction, the insider directly owned 2,051 shares in the company, valued at approximately $75,599.86. This trade represents a 38.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have purchased 1,306 shares of company stock worth $46,585. 19.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bankwell Financial Group

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in shares of Bankwell Financial Group by 3,002.9% during the 1st quarter. GAMMA Investing LLC now owns 1,086 shares of the bank's stock worth $36,000 after purchasing an additional 1,051 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Bankwell Financial Group by 655.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,564 shares of the bank's stock worth $49,000 after purchasing an additional 1,357 shares during the period. Deutsche Bank AG bought a new stake in Bankwell Financial Group during the 4th quarter valued at $104,000. Strs Ohio acquired a new position in Bankwell Financial Group during the first quarter worth $148,000. Finally, Trexquant Investment LP acquired a new position in Bankwell Financial Group during the 1st quarter valued at about $204,000. Institutional investors own 35.80% of the company's stock.

Bankwell Financial Group Company Profile

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.