ValuEngine Upgrades Bankwell Financial Group (NASDAQ:BWFG) to “Hold”

ValuEngine upgraded shares of Bankwell Financial Group (NASDAQ:BWFG) from a sell rating to a hold rating in a report issued on Wednesday, ValuEngine reports.

Several other research analysts have also issued reports on BWFG. Zacks Investment Research lowered shares of Bankwell Financial Group from a buy rating to a hold rating in a research note on Friday, August 2nd. Boenning Scattergood reiterated a buy rating and issued a $34.00 price target on shares of Bankwell Financial Group in a research note on Thursday, August 1st.

Shares of Bankwell Financial Group stock traded up $0.26 during trading on Wednesday, hitting $27.45. The company’s stock had a trading volume of 13,238 shares, compared to its average volume of 12,988. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.09 and a current ratio of 1.09. The company has a fifty day simple moving average of $26.71 and a two-hundred day simple moving average of $28.29. The company has a market capitalization of $213.20 million, a PE ratio of 10.58 and a beta of 0.38. Bankwell Financial Group has a 52 week low of $24.70 and a 52 week high of $31.89.

Bankwell Financial Group (NASDAQ:BWFG) last issued its quarterly earnings results on Tuesday, July 30th. The bank reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.16. The company had revenue of $14.93 million during the quarter, compared to analyst estimates 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, analysts predict that Bankwell Financial Group will post 2.48 EPS for the current year.

In related news, EVP Laura Waitz sold 1,875 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $25.64, for a total transaction of $48,075.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Todd Lampert sold 2,075 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $28.03, for a total transaction of $58,162.25. Following the sale, the director now directly owns 12,960 shares in the company, valued at $363,268.80. The disclosure for this sale can be found here. 16.30% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Context BH Capital Management LP grew its position in Bankwell Financial Group by 10.5% during the 2nd quarter. Context BH Capital Management LP now owns 48,302 shares of the bank’s stock valued at $1,386,000 after purchasing an additional 4,603 shares during the last quarter. Renaissance Technologies LLC grew its position in Bankwell Financial Group by 2.5% during the 2nd quarter. Renaissance Technologies LLC now owns 194,600 shares of the bank’s stock valued at $5,585,000 after purchasing an additional 4,700 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Bankwell Financial Group by 100.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 18,501 shares of the bank’s stock valued at $531,000 after purchasing an additional 9,251 shares during the last quarter. Acadian Asset Management LLC grew its position in Bankwell Financial Group by 325.5% during the 2nd quarter. Acadian Asset Management LLC now owns 10,561 shares of the bank’s stock valued at $303,000 after purchasing an additional 8,079 shares during the last quarter. Finally, Summit Trail Advisors LLC grew its position in Bankwell Financial Group by 4.2% during the 2nd quarter. Summit Trail Advisors LLC now owns 92,152 shares of the bank’s stock valued at $2,645,000 after purchasing an additional 3,714 shares during the last quarter. 53.57% of the stock is currently owned by 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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