Bankwell Financial Group (NASDAQ:BWFG) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of Bankwell Financial Group (NASDAQ:BWFG) from a buy rating to a hold rating in a report issued on Friday, Zacks.com reports.

According to Zacks, “Bankwell Financial Group, Inc. is a commercial bank which serves residents and businesses primarily in Fairfield and New Haven Counties, CT. It offers checking, savings, money market accounts; demand and NOW deposits, certificates of deposit, commercial lending products as well as electronic banking and online banking services. Bankwell Financial Group, Inc. is headquartered in New Canaan, Connecticut. “

Several other brokerages also recently commented on BWFG. Boenning Scattergood reissued a buy rating and set a $34.00 target price on shares of Bankwell Financial Group in a research note on Thursday. ValuEngine downgraded Bankwell Financial Group from a hold rating to a sell rating in a research note on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $33.33.

BWFG stock traded down $0.63 during midday trading on Friday, reaching $27.51. The company had a trading volume of 11,927 shares, compared to its average volume of 5,726. The stock has a market capitalization of $221.24 million, a P/E ratio of 11.51 and a beta of 0.42. The company’s 50 day simple moving average is $28.50. Bankwell Financial Group has a 1-year low of $26.39 and a 1-year high of $32.39. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.09 and a quick ratio of 1.09.

Bankwell Financial Group (NASDAQ:BWFG) last posted its quarterly earnings results on Tuesday, July 30th. The bank reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.16. The business had revenue of $14.93 million during the quarter, compared to the consensus estimate of $14.65 million. Bankwell Financial Group had a return on equity of 11.51% and a net margin of 21.17%. Research analysts anticipate that Bankwell Financial Group will post 2.29 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, August 15th. Bankwell Financial Group’s payout ratio is 21.76%.

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA raised its stake in Bankwell Financial Group by 711.3% during the first quarter. BNP Paribas Arbitrage SA now owns 1,290 shares of the bank’s stock worth $38,000 after acquiring an additional 1,131 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Bankwell Financial Group by 91.5% in the fourth quarter. Bank of America Corp DE now owns 3,992 shares of the bank’s stock valued at $115,000 after buying an additional 1,907 shares during the period. Strs Ohio increased its stake in shares of Bankwell Financial Group by 7.6% in the second quarter. Strs Ohio now owns 11,300 shares of the bank’s stock valued at $324,000 after buying an additional 800 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Bankwell Financial Group by 100.0% in the second quarter. Janney Montgomery Scott LLC now owns 18,501 shares of the bank’s stock valued at $531,000 after buying an additional 9,251 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Bankwell Financial Group by 4.1% in the fourth quarter. Bank of New York Mellon Corp now owns 40,012 shares of the bank’s stock valued at $1,148,000 after buying an additional 1,572 shares during the period. 52.97% of the stock is owned by hedge funds and other institutional investors.

About Bankwell Financial Group

Bankwell Financial Group, Inc operates as the bank holding company for Bankwell Bank that provides a range of banking services to commercial and consumer customers in Connecticut. It accepts checking, savings, and money market accounts; and time, demand, and NOW deposits, as well as certificates of deposit.

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