Bankwell Financial Group Inc (NASDAQ:BWFG) – Investment analysts at Piper Jaffray Companies reduced their Q3 2019 earnings per share estimates for Bankwell Financial Group in a report released on Tuesday, February 5th. Piper Jaffray Companies analyst M. Breese now expects that the bank will earn $0.57 per share for the quarter, down from their previous estimate of $0.58. Piper Jaffray Companies also issued estimates for Bankwell Financial Group’s Q2 2020 earnings at $0.59 EPS and Q3 2020 earnings at $0.60 EPS.
Bankwell Financial Group (NASDAQ:BWFG) last posted its quarterly earnings results on Wednesday, January 30th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. Bankwell Financial Group had a net margin of 20.76% and a return on equity of 11.07%. The firm had revenue of $15.07 million for the quarter, compared to analysts’ expectations of $15.00 million.
A number of other equities research analysts have also issued reports on BWFG. Zacks Investment Research lowered Bankwell Financial Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. Boenning Scattergood reissued a “buy” rating on shares of Bankwell Financial Group in a research note on Thursday, November 1st. Finally, ValuEngine raised shares of Bankwell Financial Group from a “sell” rating to a “hold” rating in a report on Friday, January 4th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $35.00.
BWFG stock opened at $29.02 on Wednesday. The firm has a market cap of $226.96 million, a price-to-earnings ratio of 12.14 and a beta of 0.39. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.12 and a quick ratio of 1.12. Bankwell Financial Group has a 1-year low of $26.39 and a 1-year high of $35.13.
The business also recently announced a quarterly dividend, which will be paid on Monday, February 25th. Stockholders of record on Friday, February 15th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.79%. This is a boost from Bankwell Financial Group’s previous quarterly dividend of $0.12. Bankwell Financial Group’s payout ratio is currently 20.08%.
In related news, Director Todd Lampert sold 1,662 shares of the company’s stock in a transaction dated Friday, December 21st. The shares were sold at an average price of $26.78, for a total transaction of $44,508.36. Following the completion of the sale, the director now owns 15,376 shares of the company’s stock, valued at approximately $411,769.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 21.87% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of BWFG. Seidman Lawrence B grew its position in shares of Bankwell Financial Group by 46.4% in the 3rd quarter. Seidman Lawrence B now owns 192,921 shares of the bank’s stock valued at $6,050,000 after buying an additional 61,182 shares during the last quarter. Clover Partners L.P. purchased a new stake in Bankwell Financial Group in the third quarter valued at approximately $1,348,000. Millennium Management LLC lifted its position in shares of Bankwell Financial Group by 137.5% during the second quarter. Millennium Management LLC now owns 55,054 shares of the bank’s stock worth $1,770,000 after purchasing an additional 31,873 shares in the last quarter. BlackRock Inc. raised its holdings in Bankwell Financial Group by 10.1% in the second quarter. BlackRock Inc. now owns 302,358 shares of the bank’s stock valued at $9,720,000 after acquiring an additional 27,785 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Bankwell Financial Group by 36.8% during the second quarter. Dimensional Fund Advisors LP now owns 65,664 shares of the bank’s stock worth $2,111,000 after acquiring an additional 17,672 shares during the last quarter. Hedge funds and other institutional investors own 48.75% of the company’s stock.
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 demand and NOW deposits, as well as certificates of deposit.
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