Zacks Investment Research upgraded shares of Bankwell Financial Group (NASDAQ:BWFG) from a hold rating to a buy rating in a research report released on Wednesday, Zacks.com reports. They currently have $32.00 target price on the bank’s stock.
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. “
Separately, ValuEngine downgraded shares of Bankwell Financial Group from a hold rating to a sell rating in a report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $33.33.
Bankwell Financial Group (NASDAQ:BWFG) last released its quarterly earnings data on Tuesday, July 30th. The bank reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.16. The firm had revenue of $14.93 million during the quarter, compared to the consensus estimate of $14.65 million. Bankwell Financial Group had a net margin of 21.17% and a return on equity of 11.48%. As a group, research analysts expect that Bankwell Financial Group will post 2.29 earnings per share for the current fiscal year.
The business 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 $0.13 dividend. This represents a $0.52 dividend on an annualized basis 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 have recently bought and sold shares of the business. BNP Paribas Arbitrage SA lifted its stake in Bankwell Financial Group by 711.3% in the first quarter. BNP Paribas Arbitrage SA now owns 1,290 shares of the bank’s stock valued at $38,000 after buying an additional 1,131 shares during the last quarter. Bank of America Corp DE lifted its stake in 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 last quarter. Strs Ohio lifted its stake in 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 last quarter. Janney Montgomery Scott LLC lifted its stake in 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 last quarter. Finally, Bank of New York Mellon Corp lifted its stake in 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 last quarter. Institutional investors own 52.97% of the company’s stock.
Bankwell Financial Group Company Profile
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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