Bankwell Financial Group (NASDAQ:BWFG) Price Target Raised to $72.00

Bankwell Financial Group (NASDAQ:BWFG) had its price target increased by Keefe, Bruyette & Woods from $62.00 to $72.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the bank’s stock.

BWFG has been the subject of a number of other research reports. Wall Street Zen lowered Bankwell Financial Group from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Hovde Group lifted their price target on Bankwell Financial Group from $51.00 to $63.00 and gave the stock a “market perform” rating in a research note on Monday. Finally, Weiss Ratings cut Bankwell Financial Group from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $67.50.

Bankwell Financial Group Price Performance

Shares of NASDAQ:BWFG opened at $67.71 on Tuesday. The stock has a market cap of $539.85 million, a PE ratio of 12.66 and a beta of 0.61. The company’s fifty day moving average is $57.40 and its 200 day moving average is $52.12. Bankwell Financial Group has a 52 week low of $38.25 and a 52 week high of $68.85. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.42.

Bankwell Financial Group (NASDAQ:BWFG) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.23. Bankwell Financial Group had a net margin of 19.80% and a return on equity of 14.19%. The business had revenue of $32.78 million during the quarter, compared to the consensus estimate of $30.63 million. Research analysts anticipate that Bankwell Financial Group will post 5.7 earnings per share for the current year.

Bankwell Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, August 10th. Bankwell Financial Group’s dividend payout ratio is 14.95%.

Insider Activity

In other Bankwell Financial Group news, Director Eric J. Dale purchased 588 shares of Bankwell Financial Group stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average price of $53.70 per share, for a total transaction of $31,575.60. Following the acquisition, the director directly owned 42,496 shares in the company, valued at approximately $2,282,035.20. This trade represents a 1.40% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ryan Jason Hildebrand sold 1,088 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $58.48, for a total value of $63,626.24. Following the transaction, the insider owned 2,246 shares in the company, valued at approximately $131,346.08. This represents a 32.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders bought 7,156 shares of company stock valued at $370,525. 20.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bankwell Financial Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. increased its stake in shares of Bankwell Financial Group by 585.0% during the third quarter. Russell Investments Group Ltd. now owns 685 shares of the bank’s stock valued at $30,000 after buying an additional 585 shares during the period. BNP Paribas Financial Markets lifted its stake in Bankwell Financial Group by 38.8% in the second quarter. BNP Paribas Financial Markets now owns 1,124 shares of the bank’s stock worth $40,000 after acquiring an additional 314 shares during the period. Raymond James Financial Inc. purchased a new stake in Bankwell Financial Group in the second quarter worth $63,000. Tower Research Capital LLC TRC boosted its holdings in Bankwell Financial Group by 523.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock valued at $72,000 after acquiring an additional 1,675 shares in the last quarter. Finally, Assetmark Inc. bought a new stake in Bankwell Financial Group in the first quarter valued at $146,000. Hedge funds and other institutional investors own 35.80% of the company’s stock.

About Bankwell Financial Group

Bankwell Financial Group, Inc is a bank holding company headquartered in New Canaan, Connecticut, and serves as the parent company of Bankwell Bank. Bankwell Bank provides commercial, business and personal banking services, with branch locations primarily across Fairfield and New Haven counties in Connecticut, along with a New York presence.

The company’s deposit offerings include checking, savings and money market accounts, as well as certificates of deposit, all supported by an online and mobile banking platform for convenient account access.