Bankwell Financial Group Inc (BWFG) Expected to Announce Quarterly Sales of $15.20 Million

Wall Street analysts forecast that Bankwell Financial Group Inc (NASDAQ:BWFG) will report sales of $15.20 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Bankwell Financial Group’s earnings. Bankwell Financial Group reported sales of $14.69 million during the same quarter last year, which indicates a positive year-over-year growth rate of 3.5%. The firm is expected to report its next earnings results on Wednesday, October 17th.

On average, analysts expect that Bankwell Financial Group will report full-year sales of $60.55 million for the current fiscal year, with estimates ranging from $60.50 million to $60.60 million. For the next financial year, analysts forecast that the firm will post sales of $63.05 million, with estimates ranging from $62.60 million to $63.50 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Bankwell Financial Group.

Bankwell Financial Group (NASDAQ:BWFG) last posted its quarterly earnings data on Thursday, July 26th. The bank reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.03). Bankwell Financial Group had a net margin of 19.62% and a return on equity of 10.79%. The firm had revenue of $15.02 million for the quarter, compared to the consensus estimate of $14.85 million.

A number of research firms have weighed in on BWFG. Zacks Investment Research cut shares of Bankwell Financial Group from a “buy” rating to a “hold” rating in a research report on Monday, September 17th. Boenning Scattergood began coverage on shares of Bankwell Financial Group in a research report on Thursday, June 28th. They set an “outperform” rating and a $36.50 price objective on the stock. ValuEngine cut shares of Bankwell Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 8th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $34.00 price objective on shares of Bankwell Financial Group in a research report on Wednesday, August 8th. Finally, BidaskClub cut shares of Bankwell Financial Group from a “hold” rating to a “sell” rating in a research report on Friday, August 10th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $35.33.

BWFG stock opened at $30.52 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.32. Bankwell Financial Group has a twelve month low of $29.85 and a twelve month high of $37.83. The firm has a market cap of $239.83 million, a price-to-earnings ratio of 15.03 and a beta of 0.41.

In other news, EVP Laura Waitz sold 1,265 shares of the company’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $31.30, for a total value of $39,594.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 2,554 shares of company stock worth $80,206. Company insiders own 21.87% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of BWFG. Millennium Management LLC grew its holdings in shares of Bankwell Financial Group by 137.5% in 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 during the last quarter. BlackRock Inc. grew its holdings in shares of Bankwell Financial Group by 10.1% in the second quarter. BlackRock Inc. now owns 302,358 shares of the bank’s stock worth $9,720,000 after purchasing an additional 27,785 shares during the last quarter. Seidman Lawrence B grew its holdings in shares of Bankwell Financial Group by 22.2% in the second quarter. Seidman Lawrence B now owns 131,739 shares of the bank’s stock worth $4,235,000 after purchasing an additional 23,900 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Bankwell Financial Group by 36.8% in the second quarter. Dimensional Fund Advisors LP now owns 65,664 shares of the bank’s stock worth $2,111,000 after purchasing an additional 17,672 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Bankwell Financial Group by 6.1% in the second quarter. Renaissance Technologies LLC now owns 184,900 shares of the bank’s stock worth $5,945,000 after purchasing an additional 10,600 shares during the last quarter. Hedge funds and other institutional investors own 48.17% 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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