Bankwell Financial Group, Inc. $BWFG Shares Newly Bought by Bank of America Corp DE

Key Points

• Bank of America initiated a stake in Bankwell Financial Group during the second quarter, buying 21,835 shares valued at approximately $1.28 million. Other institutions, including BlackRock and Bank of New York Mellon, also established or increased positions.
• Bankwell reported quarterly EPS of $1.52, exceeding the $1.29 consensus estimate, while revenue of $32.78 million also topped expectations. The bank maintains a quarterly dividend of $0.20 per share, yielding approximately 1.2% annually.
• Analyst sentiment remains moderately bullish, with a consensus rating of “Moderate Buy” and an average price target of $67.50. BWFG recently traded at $65.62, within its $40.44–$69.59 12-month range.

Bank of America Corp DE acquired a new stake in shares of Bankwell Financial Group, Inc. (NASDAQ:BWFG - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 21,835 shares of the bank's stock, valued at approximately $1,283,000. Bank of America Corp DE owned 0.27% of Bankwell Financial Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BWFG. Sei Investments Co. raised its stake in Bankwell Financial Group by 111.4% during the 1st quarter. Sei Investments Co. now owns 41,342 shares of the bank's stock valued at $2,006,000 after purchasing an additional 21,786 shares during the period. Bank of New York Mellon Corp bought a new position in Bankwell Financial Group in the 2nd quarter worth approximately $1,377,000. BlackRock Inc. purchased a new stake in Bankwell Financial Group during the 2nd quarter valued at approximately $28,974,000. Algert Global LLC grew its holdings in Bankwell Financial Group by 13.3% during the 2nd quarter. Algert Global LLC now owns 31,421 shares of the bank's stock valued at $1,846,000 after buying an additional 3,681 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Bankwell Financial Group during the second quarter valued at approximately $406,000. 35.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Eric J. Dale purchased 530 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was bought at an average cost of $67.11 per share, for a total transaction of $35,568.30. Following the completion of the transaction, the director directly owned 43,026 shares in the company, valued at $2,887,474.86. This represents a 1.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Ryan Hildebrand sold 2,246 shares of Bankwell Financial Group stock in a transaction on Friday, July 31st. The stock was sold at an average price of $66.74, for a total transaction of $149,898.04. The SEC filing for this sale provides additional information. In the last 90 days, insiders have purchased 19,040 shares of company stock valued at $1,269,057. 20.98% of the stock is currently owned by insiders.

Bankwell Financial Group Stock Performance

Bankwell Financial Group stock opened at $65.62 on Friday. The company's 50-day moving average price is $66.63 and its 200-day moving average price is $58.04. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.31. The company has a market cap of $522.99 million, a PE ratio of 12.27 and a beta of 0.58. Bankwell Financial Group, Inc. has a twelve month low of $40.44 and a twelve month high of $69.59.

Bankwell Financial Group (NASDAQ:BWFG - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $1.52 EPS for the quarter, topping the consensus estimate of $1.29 by $0.23. Bankwell Financial Group had a return on equity of 13.94% and a net margin of 19.80%.The company had revenue of $32.78 million during the quarter, compared to analyst estimates of $30.63 million. On average, equities research analysts forecast that Bankwell Financial Group, Inc. will post 5.7 EPS for the current fiscal year.

Bankwell Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 10th were issued a $0.20 dividend. The ex-dividend date was Monday, August 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.2%. Bankwell Financial Group's payout ratio is 14.95%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BWFG shares. Weiss Ratings raised shares of Bankwell Financial Group from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, August 13th. Zacks Research cut shares of Bankwell Financial Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 25th. Hovde Group lifted their price target on shares of Bankwell Financial Group from $51.00 to $63.00 and gave the company a "market perform" rating in a report on Monday, July 27th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Bankwell Financial Group from $62.00 to $72.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $67.50.

Bankwell Financial Group 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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