Insider Buying: Bankwell Financial Group (NASDAQ:BWFG) Director Buys 10,000 Shares of Stock

Key Points

• Director Lawrence Seidman bought 10,000 Bankwell Financial Group shares at an average price of $66.63, investing $666,300 and increasing his direct stake by 4.7% to 222,690 shares.
• Bankwell reported stronger-than-expected quarterly results, with EPS of $1.52 versus the $1.29 consensus estimate and revenue of $32.78 million compared with expectations of $30.63 million.
• The company declared a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 payout and a 1.2% yield; analysts maintain an overall “Buy” rating with an average price target of $67.50.

Bankwell Financial Group, Inc. (NASDAQ:BWFG - Get Free Report) Director Lawrence Seidman purchased 10,000 shares of Bankwell Financial Group stock in a transaction that occurred on Friday, August 7th. The stock was acquired at an average cost of $66.63 per share, with a total value of $666,300.00. Following the acquisition, the director directly owned 222,690 shares of the company's stock, valued at $14,837,834.70. The trade was a 4.70% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Bankwell Financial Group Price Performance

BWFG stock opened at $66.90 on Monday. The stock's 50 day moving average is $59.20 and its two-hundred day moving average is $52.97. Bankwell Financial Group, Inc. has a 52-week low of $39.00 and a 52-week high of $69.59. The company has a market capitalization of $533.19 million, a PE ratio of 12.50 and a beta of 0.59. 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 released its earnings results on Thursday, July 23rd. The bank reported $1.52 EPS for the quarter, beating 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 analysts' expectations of $30.63 million. Analysts predict that Bankwell Financial Group, Inc. will post 5.7 earnings per share for the current fiscal year.

Bankwell Financial Group Announces Dividend

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

Analyst Ratings Changes

Several brokerages have weighed in on BWFG. Hovde Group lifted their target price on Bankwell Financial Group from $51.00 to $63.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. Weiss Ratings lowered shares of Bankwell Financial Group from a "buy (b+)" rating to a "buy (b)" rating in a research report on Wednesday, June 24th. Keefe, Bruyette & Woods lifted their price objective 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. Wall Street Zen lowered shares of Bankwell Financial Group from a "buy" rating to a "hold" rating in a research note on Sunday, May 3rd. 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 issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $67.50.

Hedge Funds Weigh In On Bankwell Financial Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its holdings in shares of Bankwell Financial Group by 585.0% in the third quarter. Russell Investments Group Ltd. now owns 685 shares of the bank's stock valued at $30,000 after purchasing an additional 585 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Bankwell Financial Group by 38.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,124 shares of the bank's stock worth $40,000 after acquiring an additional 314 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Bankwell Financial Group during the 2nd quarter worth about $63,000. Tower Research Capital LLC TRC grew its stake in 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 acquiring an additional 1,675 shares in the last quarter. Finally, Assetmark Inc. acquired a new position in shares of Bankwell Financial Group in the 1st quarter valued at about $146,000. 35.80% of the stock is currently owned by hedge funds and other institutional investors.

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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