Bank of New York Mellon Corp Invests $1.38 Million in Bankwell Financial Group, Inc. $BWFG

Bank of New York Mellon Corp purchased a new position in shares of Bankwell Financial Group, Inc. (NASDAQ:BWFG - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 23,446 shares of the bank's stock, valued at approximately $1,377,000. Bank of New York Mellon Corp owned about 0.29% of Bankwell Financial Group at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BWFG. Sei Investments Co. boosted its holdings in shares of Bankwell Financial Group by 111.4% during the 1st quarter. Sei Investments Co. now owns 41,342 shares of the bank's stock worth $2,006,000 after purchasing an additional 21,786 shares during the last quarter. Legato Capital Management LLC acquired a new stake in shares of Bankwell Financial Group in the fourth quarter valued at approximately $443,000. Russell Investments Group Ltd. lifted its position in Bankwell Financial Group by 585.0% during 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. Bank of America Corp DE lifted its position in Bankwell Financial Group by 25.1% during the first quarter. Bank of America Corp DE now owns 14,598 shares of the bank's stock worth $708,000 after buying an additional 2,933 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Bankwell Financial Group during the second quarter worth $235,000. Hedge funds and other institutional investors own 35.80% of the company's stock.

Bankwell Financial Group Stock Up 0.8%

NASDAQ:BWFG opened at $66.71 on Thursday. Bankwell Financial Group, Inc. has a 52 week low of $40.44 and a 52 week high of $69.59. The stock's fifty day moving average is $64.19 and its two-hundred day moving average is $55.88. The stock has a market capitalization of $531.68 million, a price-to-earnings ratio of 12.47 and a beta of 0.58. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.31.

Bankwell Financial Group (NASDAQ:BWFG - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.23. The business had revenue of $32.78 million during the quarter, compared to analysts' expectations of $30.63 million. Bankwell Financial Group had a return on equity of 13.94% and a net margin of 19.80%. Research analysts anticipate that Bankwell Financial Group, Inc. will post 5.7 EPS for the current year.

Bankwell Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was 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, Director Eric J. Dale acquired 530 shares of the stock in a transaction dated Tuesday, September 8th. The stock was acquired at an average price of $67.11 per share, with a total value of $35,568.30. Following the completion of the purchase, the director owned 43,026 shares in the company, valued at $2,887,474.86. This trade represents a 1.25% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ryan Hildebrand sold 2,246 shares of Bankwell Financial Group stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $66.74, for a total transaction of $149,898.04. The disclosure for this sale is available in the SEC filing. Insiders bought a total of 19,040 shares of company stock valued at $1,269,057 in the last three months. 20.98% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BWFG shares. Keefe, Bruyette & Woods raised their target price on Bankwell Financial Group from $62.00 to $72.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 28th. Weiss Ratings raised shares of Bankwell Financial Group from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, August 13th. Hovde Group raised their price objective on shares of Bankwell Financial Group from $51.00 to $63.00 and gave the stock a "market perform" rating in a research report on Monday, July 27th. Finally, Zacks Research upgraded shares of Bankwell Financial Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $67.50.

Trending Headlines about Bankwell Financial Group

Here are the key news stories impacting Bankwell Financial Group this week:

• Positive Sentiment: Director Lawrence Seidman purchased 5,266 shares at an average price of $66.94, investing approximately $352,506 and increasing his position by 2.39%. SEC filing
• Positive Sentiment: Directors Carl Porto, Blake Drexler, Jeffrey Dunne and Eric Dale also bought shares at approximately $67.11 each. Their purchases totaled 1,234 shares, or roughly $82,814, further reinforcing the positive insider-buying signal. Carl Porto SEC filing Blake Drexler SEC filing Jeffrey Dunne SEC filing Eric Dale SEC filing

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.

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