Bankwell Financial Group (NASDAQ:BWFG) Issues Quarterly Earnings Results

Key Points

• Bankwell Financial Group beat quarterly expectations, reporting earnings of $1.52 per share versus the $1.29 consensus estimate. Revenue also came in ahead of forecasts at $32.78 million compared with $30.63 million expected.
• The company posted a net margin of 18.71% and a return on equity of 13.31%, with shares opening at $60.28 after the release. BWFG is trading near its 52-week high of $61.83.
• Insider activity showed more selling than buying over the last three months, while institutional investors held 35.80% of the stock. Analysts currently rate the shares a Moderate Buy with a consensus price target of $52.00.

Bankwell Financial Group (NASDAQ:BWFG - Get Free Report) released its earnings results on Thursday. The bank reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.23, FiscalAI reports. Bankwell Financial Group had a net margin of 18.71% and a return on equity of 13.31%. The firm had revenue of $32.78 million during the quarter, compared to analyst estimates of $30.63 million.

Bankwell Financial Group Stock Performance

BWFG opened at $60.28 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The business's 50 day moving average is $55.78 and its 200-day moving average is $51.35. The stock has a market cap of $480.43 million, a PE ratio of 12.21 and a beta of 0.61. Bankwell Financial Group has a twelve month low of $36.22 and a twelve month high of $61.83.

Insiders Place Their Bets

In other Bankwell Financial Group news, insider Ryan Jason Hildebrand sold 1,088 shares of the business's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $58.48, for a total transaction of $63,626.24. Following the completion of the transaction, the insider owned 2,246 shares in the company, valued at approximately $131,346.08. The trade was a 32.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $225,383.36. Following the completion of the transaction, the executive vice president directly owned 11,865 shares of the company's stock, valued at approximately $618,878.40. The trade was a 26.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders purchased 7,156 shares of company stock worth $370,525 and sold 8,909 shares worth $476,575. 20.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bankwell Financial Group

Several large investors have recently bought and sold shares of BWFG. Empowered Funds LLC raised its position in shares of Bankwell Financial Group by 3.4% during the 1st quarter. Empowered Funds LLC now owns 21,262 shares of the bank's stock worth $642,000 after buying an additional 702 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Bankwell Financial Group during the first quarter valued at approximately $250,000. Strs Ohio acquired a new position in shares of Bankwell Financial Group during the first quarter valued at approximately $148,000. Geode Capital Management LLC raised its holdings in Bankwell Financial Group by 5.4% during the second quarter. Geode Capital Management LLC now owns 159,384 shares of the bank's stock worth $5,744,000 after purchasing an additional 8,178 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Bankwell Financial Group by 15.2% during the second quarter. Rhumbline Advisers now owns 10,119 shares of the bank's stock worth $365,000 after purchasing an additional 1,335 shares in the last quarter. Institutional investors and hedge funds own 35.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BWFG shares. Weiss Ratings lowered shares of Bankwell Financial Group from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday, June 24th. Wall Street Zen lowered Bankwell Financial Group from a "buy" rating to a "hold" rating in a report on Sunday, May 3rd. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $52.00.

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.

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