Insider Buying: Bankwell Financial Group (NASDAQ:BWFG) Director Buys $167,436.80 in Stock

Key Points

• Director Lawrence Seidman bought 2,540 Bankwell Financial Group shares at an average price of $65.92, investing $167,436.80 and increasing his stake by 1.15% to 223,684 shares.
• Bankwell reported quarterly earnings of $1.52 per share, beating estimates of $1.29, while revenue of $32.78 million also exceeded expectations.
• The stock traded near $66.02, and analysts maintained an overall “Buy” consensus with an average price target of $67.50; the company also pays a quarterly dividend of $0.20 per share.

Bankwell Financial Group, Inc. (NASDAQ:BWFG - Get Free Report) Director Lawrence Seidman purchased 2,540 shares of Bankwell Financial Group stock in a transaction dated Tuesday, August 25th. The shares were purchased at an average cost of $65.92 per share, with a total value of $167,436.80. Following the acquisition, the director owned 223,684 shares of the company's stock, valued at approximately $14,745,249.28. This trade represents a 1.15% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Bankwell Financial Group Stock Performance

Shares of Bankwell Financial Group stock traded up $0.27 during trading on Wednesday, hitting $66.02. 38,553 shares of the stock were exchanged, compared to its average volume of 51,353. The stock's fifty day moving average is $62.30 and its 200 day moving average is $54.55. The stock has a market cap of $526.15 million, a PE ratio of 12.35 and a beta of 0.59. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.03 and a current ratio of 1.03. Bankwell Financial Group, Inc. has a 12 month low of $40.44 and a 12 month high of $69.59.

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 the consensus estimate of $1.29 by $0.23. The firm had revenue of $32.78 million for 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%. As a group, sell-side analysts anticipate that Bankwell Financial Group, Inc. will post 5.7 EPS for the current year.

Bankwell Financial Group Dividend Announcement

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

Analysts Set New Price Targets

BWFG has been the subject of a number of recent analyst reports. Weiss Ratings raised Bankwell Financial Group from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, August 13th. Wall Street Zen downgraded Bankwell Financial Group from a "buy" rating to a "hold" rating in a research note on Sunday, May 3rd. Zacks Research upgraded Bankwell Financial Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods increased their price target 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. Finally, Hovde Group raised their price target on Bankwell Financial Group from $51.00 to $63.00 and gave the company a "market perform" rating in a report on Monday, July 27th. One equities research 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. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $67.50.

Institutional Investors Weigh In On Bankwell Financial Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its stake in Bankwell Financial Group by 585.0% during the 3rd 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. Legal & General Group Plc bought a new stake in shares of Bankwell Financial Group in the 2nd quarter worth $37,000. BNP Paribas Financial Markets lifted its holdings in shares of Bankwell Financial Group by 38.8% in the second quarter. BNP Paribas Financial Markets now owns 1,124 shares of the bank's stock valued at $40,000 after buying an additional 314 shares during the period. Raymond James Financial Inc. bought a new position in Bankwell Financial Group during the second quarter valued at about $63,000. Finally, Tower Research Capital LLC TRC boosted its stake in Bankwell Financial Group by 523.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank's stock valued at $72,000 after buying an additional 1,675 shares in 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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