Hsbc Holdings PLC Sells 15,297 Shares of Bankwell Financial Group, Inc. $BWFG

Key Points

• HSBC Holdings reduced its Bankwell Financial Group stake by 77% in the second quarter, selling 15,297 shares and retaining 4,573 shares worth approximately $268,000. Institutional investors collectively own 35.8% of BWFG.
• Insider buying remained notable: company directors Lawrence Seidman and Eric Dale purchased shares, contributing to 19,040 shares bought by insiders worth approximately $1.27 million during the last quarter.
• Analysts maintain a positive outlook, with a consensus “Buy” rating and a $67.50 price target. Bankwell also exceeded quarterly earnings expectations, reporting $1.52 EPS versus the $1.29 consensus estimate, and pays a $0.20 quarterly dividend.

Hsbc Holdings PLC cut its holdings in Bankwell Financial Group, Inc. (NASDAQ:BWFG - Free Report) by 77.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,573 shares of the bank's stock after selling 15,297 shares during the quarter. Hsbc Holdings PLC owned 0.06% of Bankwell Financial Group worth $268,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BWFG. Legal & General Group Plc acquired a new stake in shares of Bankwell Financial Group during the 2nd quarter worth approximately $37,000. Assetmark Inc. bought a new position in Bankwell Financial Group during the first quarter worth $146,000. PDT Partners LLC bought a new position in Bankwell Financial Group during the second quarter worth $235,000. GSA Capital Partners LLP acquired a new stake in Bankwell Financial Group in the second quarter worth $235,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Bankwell Financial Group in the second quarter worth $294,000. 35.80% of the stock is currently owned by institutional investors.

Insider Transactions at Bankwell Financial Group

In other news, Director Lawrence Seidman bought 5,266 shares of the stock in a transaction dated Tuesday, September 8th. The stock was bought at an average price of $66.94 per share, for a total transaction of $352,506.04. Following the completion of the acquisition, the director directly owned 225,640 shares in the company, valued at approximately $15,104,341.60. This trade represents a 2.39% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Eric Dale purchased 530 shares of the company's stock in a transaction that occurred on Tuesday, September 8th. The shares were purchased 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 of the company's stock, valued at $2,887,474.86. This represents a 1.25% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 19,040 shares of company stock worth $1,269,057 in the last quarter. 20.98% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BWFG. Weiss Ratings upgraded shares of Bankwell Financial Group from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, August 13th. Zacks Research upgraded Bankwell Financial Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods boosted their target price on Bankwell Financial Group from $62.00 to $72.00 and gave the company an "outperform" rating in a research report on Tuesday, July 28th. Finally, Hovde Group upped their price target on Bankwell Financial Group from $51.00 to $63.00 and gave the stock a "market perform" rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $67.50.

Bankwell Financial Group Stock Down 1.2%

BWFG stock opened at $66.69 on Thursday. The firm has a market capitalization of $531.52 million, a PE 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, Inc. has a twelve month low of $40.44 and a twelve month high of $69.59. The stock's 50 day moving average is $65.17 and its 200-day moving average is $56.58.

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

Bankwell Financial Group Announces Dividend

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

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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