Bankwell Financial Group (NASDAQ:BWFG) Lowered to "Buy" Rating by Wall Street Zen
Bankwell Financial Group (NASDAQ:BWFG - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report issued on Friday.
Separately, Keefe, Bruyette & Woods raised their price objective on Bankwell Financial Group from $40.00 to $42.00 and gave the company an "outperform" rating in a research note on Monday, April 28th.
View Our Latest Stock Analysis on BWFG
Shares of BWFG stock traded down $0.01 during mid-day trading on Friday, hitting $35.16. The company's stock had a trading volume of 8,251 shares, compared to its average volume of 14,889. Bankwell Financial Group has a 52 week low of $22.80 and a 52 week high of $36.00. The company has a market cap of $276.81 million, a PE ratio of 29.80 and a beta of 0.66. The company's fifty day simple moving average is $31.97 and its 200-day simple moving average is $31.41. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.06 and a current ratio of 1.06.
Bankwell Financial Group (NASDAQ:BWFG - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.14. Bankwell Financial Group had a return on equity of 3.48% and a net margin of 4.76%. The business had revenue of $23.57 million during the quarter, compared to the consensus estimate of $22.63 million.
In other Bankwell Financial Group news, Director Eric J. Dale purchased 875 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were purchased at an average cost of $30.42 per share, with a total value of $26,617.50. Following the completion of the purchase, the director now owns 38,682 shares in the company, valued at approximately $1,176,706.44. This represents a 2.31% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Steven H. Brunner sold 807 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $33.36, for a total transaction of $26,921.52. Following the sale, the executive vice president now owns 1,548 shares of the company's stock, valued at approximately $51,641.28. The trade was a 34.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 19.48% of the company's stock.
Institutional investors have recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in shares of Bankwell Financial Group during the 1st quarter worth $148,000. Acadian Asset Management LLC grew its position in Bankwell Financial Group by 2.8% in the first quarter. Acadian Asset Management LLC now owns 88,343 shares of the bank's stock valued at $2,664,000 after acquiring an additional 2,368 shares in the last quarter. Jane Street Group LLC acquired a new stake in Bankwell Financial Group in the first quarter valued at approximately $250,000. Empowered Funds LLC grew its position 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 buying an additional 702 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in Bankwell Financial Group during the first quarter worth $204,000. Hedge funds and other institutional investors own 35.80% of the company's stock.
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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