Bankwell Financial Group (NASDAQ:BWFG) Cut to Buy at Wall Street Zen
Bankwell Financial Group (NASDAQ:BWFG - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Saturday.
Separately, Keefe, Bruyette & Woods upped their price target on shares of Bankwell Financial Group from $40.00 to $42.00 and gave the company an "outperform" rating in a report on Monday, April 28th.
Read Our Latest Report on BWFG
BWFG opened at $35.18 on Friday. The stock has a market capitalization of $276.87 million, a PE ratio of 22.41 and a beta of 0.67. The firm's fifty day moving average price is $33.72 and its 200 day moving average price is $31.64. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.05 and a quick ratio of 1.05. Bankwell Financial Group has a 12-month low of $22.80 and a 12-month high of $36.00.
Bankwell Financial Group (NASDAQ:BWFG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.14. The firm had revenue of $23.57 million for the quarter, compared to analysts' expectations of $22.63 million. Bankwell Financial Group had a net margin of 6.33% and a return on equity of 4.60%.
In other Bankwell Financial Group news, EVP Steven H. Brunner sold 807 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $33.36, for a total transaction of $26,921.52. Following the sale, the executive vice president now directly owns 1,548 shares of the company's stock, valued at approximately $51,641.28. This represents a 34.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have acquired 1,306 shares of company stock valued at $46,585. Company insiders own 19.48% of the company's stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. GM Advisory Group LLC raised its holdings in shares of Bankwell Financial Group by 0.6% during the fourth quarter. GM Advisory Group LLC now owns 90,358 shares of the bank's stock worth $2,815,000 after purchasing an additional 551 shares during the period. Geode Capital Management LLC raised its holdings in shares of Bankwell Financial Group by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 148,035 shares of the bank's stock worth $4,612,000 after purchasing an additional 693 shares during the period. Empowered Funds LLC raised its holdings in shares of Bankwell Financial Group by 3.4% during the first quarter. Empowered Funds LLC now owns 21,262 shares of the bank's stock worth $642,000 after purchasing an additional 702 shares during the period. Bridgeway Capital Management LLC raised its holdings in shares of Bankwell Financial Group by 1.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 54,765 shares of the bank's stock worth $1,706,000 after purchasing an additional 918 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of Bankwell Financial Group by 9.4% during the fourth quarter. Wells Fargo & Company MN now owns 11,338 shares of the bank's stock worth $353,000 after purchasing an additional 975 shares during the period. 35.80% of the stock is owned by institutional investors and hedge funds.
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.
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