Bankwell Financial Group (NASDAQ:BWFG) Director Lawrence Seidman Acquires 5,266 Shares of Stock

Key Points

• Director Lawrence Seidman purchased 5,266 Bankwell Financial Group shares at an average price of $66.94, investing approximately $352,506 and increasing his stake by 2.39% to 225,640 shares.
• BWFG shares rose 1.3% to $67.05, near the company’s 12-month high of $69.59. The bank also reported quarterly EPS of $1.52, exceeding the $1.29 consensus estimate, while revenue topped expectations.
• Analyst sentiment is broadly positive, with an average “Buy” rating and a $67.50 consensus price target. Bankwell also maintains a quarterly dividend of $0.20 per share, equivalent to a 1.2% yield.

Bankwell Financial Group, Inc. (NASDAQ:BWFG - Get Free Report) Director Lawrence Seidman bought 5,266 shares of the company's stock in a transaction on Tuesday, September 8th. The shares were 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 filing with the SEC, which is accessible through this link.

Bankwell Financial Group Stock Up 1.3%

BWFG traded up $0.89 during trading on Wednesday, reaching $67.05. The company had a trading volume of 33,655 shares, compared to its average volume of 52,177. The company has a market cap of $534.39 million, a P/E ratio of 12.60 and a beta of 0.58. Bankwell Financial Group, Inc. has a 12 month low of $40.44 and a 12 month high of $69.59. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.03 and a quick ratio of 1.03. The business's fifty day moving average price is $64.06 and its 200 day moving average price is $55.75.

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 (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.23. The company had revenue of $32.78 million during the quarter, compared to the consensus estimate of $30.63 million. Bankwell Financial Group had a net margin of 19.80% and a return on equity of 13.94%. Equities analysts anticipate that Bankwell Financial Group, Inc. will post 5.7 EPS for the current year.

Bankwell Financial Group Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently issued reports on BWFG. Zacks Research raised Bankwell Financial Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Hovde Group boosted 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. Keefe, Bruyette & Woods increased their target price on shares of Bankwell Financial Group from $62.00 to $72.00 and gave the stock an "outperform" rating in a report on Tuesday, July 28th. Finally, Weiss Ratings upgraded shares of Bankwell Financial Group from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, August 13th. One investment 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. Based on data from MarketBeat, Bankwell Financial Group has an average rating of "Buy" and a consensus price target of $67.50.

Hedge Funds Weigh In On Bankwell Financial Group

A number of large investors have recently made changes to their positions in BWFG. Russell Investments Group Ltd. increased its position in Bankwell Financial Group by 585.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 685 shares of the bank's stock worth $30,000 after buying an additional 585 shares during the period. Legal & General Group Plc acquired a new stake in shares of Bankwell Financial Group during the 2nd quarter worth approximately $37,000. BNP Paribas Financial Markets boosted its holdings in shares of Bankwell Financial Group by 38.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,124 shares of the bank's stock valued at $40,000 after purchasing an additional 314 shares in the last quarter. Raymond James Financial Inc. bought a new position in Bankwell Financial Group in the second quarter valued at about $63,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Bankwell Financial Group by 523.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank's stock valued at $72,000 after purchasing an additional 1,675 shares during the last quarter. Institutional investors own 35.80% of the company's stock.

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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