Bankwell Financial Group’s (BWFG) “Outperform” Rating Reiterated at Keefe, Bruyette & Woods

Bankwell Financial Group (NASDAQ:BWFG)‘s stock had its “outperform” rating reiterated by equities research analysts at Keefe, Bruyette & Woods in a research note issued on Wednesday, Benzinga reports. They currently have a $34.00 price target on the bank’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 14.09% from the company’s current price.

Bankwell Financial Group Stock Up 0.6 %

BWFG traded up $0.19 during trading hours on Wednesday, hitting $29.80. 9,322 shares of the company’s stock were exchanged, compared to its average volume of 13,322. The firm has a market cap of $235.36 million, a P/E ratio of 7.76 and a beta of 0.83. Bankwell Financial Group has a 12-month low of $22.47 and a 12-month high of $31.09. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.60. The firm has a 50 day moving average of $28.81 and a 200 day moving average of $26.13.

Bankwell Financial Group (NASDAQ:BWFG) last posted its quarterly earnings data on Wednesday, July 24th. The bank reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. Bankwell Financial Group had a return on equity of 8.76% and a net margin of 11.76%. The business had revenue of $48.36 million for the quarter.

Insider Activity at Bankwell Financial Group

In other news, Director Kevin D. Leitao purchased 2,500 shares of the stock in a transaction on Monday, July 29th. The stock was bought at an average price of $26.83 per share, for a total transaction of $67,075.00. Following the acquisition, the director now directly owns 2,500 shares of the company’s stock, valued at approximately $67,075. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Bankwell Financial Group news, Director Kevin D. Leitao purchased 2,500 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was bought at an average cost of $26.83 per share, with a total value of $67,075.00. Following the acquisition, the director now directly owns 2,500 shares of the company’s stock, valued at approximately $67,075. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christine Chivily sold 1,815 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $27.88, for a total value of $50,602.20. Following the transaction, the executive vice president now directly owns 14,449 shares of the company’s stock, valued at approximately $402,838.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought a total of 2,691 shares of company stock valued at $72,620 over the last 90 days. 19.20% of the stock is owned by corporate insiders.

Institutional Trading of Bankwell Financial Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its position in shares of Bankwell Financial Group by 119.9% in the 1st quarter. BNP Paribas Financial Markets now owns 2,901 shares of the bank’s stock valued at $75,000 after buying an additional 1,582 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Bankwell Financial Group by 42.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,875 shares of the bank’s stock worth $124,000 after purchasing an additional 1,449 shares in the last quarter. Bridge City Capital LLC lifted its holdings in shares of Bankwell Financial Group by 17.9% in the 1st quarter. Bridge City Capital LLC now owns 11,718 shares of the bank’s stock valued at $304,000 after purchasing an additional 1,780 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Bankwell Financial Group by 7.6% in the 1st quarter. Empowered Funds LLC now owns 17,444 shares of the bank’s stock valued at $452,000 after purchasing an additional 1,225 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Bankwell Financial Group by 6.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 28,548 shares of the bank’s stock worth $724,000 after buying an additional 1,676 shares during the last quarter. Institutional investors and hedge funds own 35.80% of the company’s stock.

About Bankwell Financial Group

Bankwell Financial Group, Inc operates as the bank holding company for Bankwell Bank that provides various banking services for individual and commercial customers. It offers various traditional depository products, including checking, savings, money market, and certificates of deposit. The company also provides first mortgage loans secured by one-to-four family owner occupied residential properties for personal use; home equity loans and home equity lines of credit secured by owner occupied one-to-four family residential properties; loans secured by commercial real estate, multi-family dwellings, owner-occupied commercial real estate, and investor-owned one-to-four family dwellings; commercial construction loans for commercial development projects, including apartment buildings and condominiums, as well as office buildings, retail, and other income producing properties; land loans; commercial business loans secured by assignments of corporate assets and personal guarantees of the business owners; loans to finance insurance premiums; overdraft lines of credit; and unsecured personal loans.