Bankwell Financial Group (NASDAQ:BWFG) Announces Quarterly Earnings Results

Bankwell Financial Group (NASDAQ:BWFG) announced its quarterly earnings data on Thursday. The bank reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.23, FiscalAI reports. Bankwell Financial Group had a net margin of 18.71% and a return on equity of 13.31%. The company had revenue of $32.78 million during the quarter, compared to the consensus estimate of $30.63 million.

Bankwell Financial Group Price Performance

BWFG stock traded up $2.25 on Thursday, reaching $61.75. 36,351 shares of the company’s stock were exchanged, compared to its average volume of 48,371. The stock has a fifty day moving average of $55.78 and a 200-day moving average of $51.35. Bankwell Financial Group has a twelve month low of $36.22 and a twelve month high of $61.83. The firm has a market cap of $492.14 million, a PE ratio of 12.35 and a beta of 0.61. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.42.

Analyst Ratings Changes

BWFG has been the topic of several analyst reports. Wall Street Zen downgraded shares of Bankwell Financial Group from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. Weiss Ratings cut shares of Bankwell Financial Group from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.00.

Insider Buying and Selling

In related news, insider Ryan Jason Hildebrand sold 1,088 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $58.48, for a total value of $63,626.24. Following the completion of the sale, the insider owned 2,246 shares in the company, valued at $131,346.08. This trade represents a 32.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christine Chivily sold 4,321 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $52.16, for a total transaction of $225,383.36. Following the transaction, the executive vice president owned 11,865 shares in the company, valued at $618,878.40. The trade was a 26.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have acquired 7,156 shares of company stock valued at $370,525 and have sold 8,909 shares valued at $476,575. 20.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Empowered Funds LLC raised its position in 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 acquiring an additional 702 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Bankwell Financial Group during the 1st quarter worth approximately $250,000. Strs Ohio acquired a new position in shares of Bankwell Financial Group during the 1st quarter worth approximately $148,000. Geode Capital Management LLC lifted its stake in Bankwell Financial Group by 5.4% in the 2nd quarter. Geode Capital Management LLC now owns 159,384 shares of the bank’s stock valued at $5,744,000 after buying an additional 8,178 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in Bankwell Financial Group by 15.2% during the 2nd quarter. Rhumbline Advisers now owns 10,119 shares of the bank’s stock valued at $365,000 after buying an additional 1,335 shares during the last quarter. Institutional investors and hedge funds own 35.80% of the company’s stock.

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.