Bankwell Financial Group (NASDAQ:BWFG) Announces Earnings Results

Key Points

• Bankwell Financial Group reported earnings of $1.15 per share, surpassing analysts' estimates of $0.81 by $0.34.
• The company is experiencing a positive trend in stock performance, with shares up by 1.3% and a market cap of $294.26 million.
• Several analysts have upgraded their ratings for Bankwell Financial Group, with Keefe, Bruyette & Woods raising their price target from $40.00 to $42.00.

Bankwell Financial Group (NASDAQ:BWFG - Get Free Report) posted its quarterly earnings data on Monday. The bank reported $1.15 EPS for the quarter, beating the consensus estimate of $0.87 by $0.28, Zacks reports. Bankwell Financial Group had a return on equity of 7.52% and a net margin of 10.27%. The firm had revenue of $47.14 million during the quarter, compared to the consensus estimate of $24.20 million.

Bankwell Financial Group Trading Down 1.7%

NASDAQ:BWFG traded down $0.66 on Wednesday, hitting $38.74. 29,840 shares of the stock were exchanged, compared to its average volume of 16,264. The stock has a market cap of $304.88 million, a PE ratio of 15.02 and a beta of 0.66. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average of $36.22 and a 200-day moving average of $32.78. Bankwell Financial Group has a fifty-two week low of $24.83 and a fifty-two week high of $41.13.

Bankwell Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 11th will be given a $0.20 dividend. The ex-dividend date is Monday, August 11th. This represents a $0.80 annualized dividend and a dividend yield of 2.07%. Bankwell Financial Group's dividend payout ratio is currently 50.96%.

Analyst Ratings Changes

BWFG has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Bankwell Financial Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Hovde Group lifted their price target on Bankwell Financial Group from $38.50 to $42.00 and gave the stock a "market perform" rating in a research report on Tuesday. Raymond James Financial initiated coverage on Bankwell Financial Group in a report on Thursday, June 26th. They issued a "market perform" rating on the stock. Finally, Keefe, Bruyette & Woods lifted their price target on Bankwell Financial Group from $40.00 to $42.00 and gave the company an "outperform" rating in a research note on Monday, April 28th.

Insider Buying and Selling

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

Institutional Investors Weigh In On Bankwell Financial Group

A number of large investors have recently modified their holdings of the stock. Strs Ohio acquired a new stake in shares of Bankwell Financial Group in the first quarter valued at about $148,000. Jane Street Group LLC acquired a new stake in Bankwell Financial Group during the 1st quarter valued at approximately $250,000. Finally, Empowered Funds LLC grew its stake in Bankwell Financial Group by 3.4% during the 1st quarter. Empowered Funds LLC now owns 21,262 shares of the bank's stock valued at $642,000 after purchasing an additional 702 shares in the last quarter. Institutional investors and hedge funds own 35.80% of the company's stock.

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.