Renaissance Technologies LLC Grows Holdings in Bankwell Financial Group Inc (BWFG)

Renaissance Technologies LLC raised its stake in shares of Bankwell Financial Group Inc (NASDAQ:BWFG) by 6.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 184,900 shares of the bank’s stock after purchasing an additional 10,600 shares during the period. Renaissance Technologies LLC owned 2.36% of Bankwell Financial Group worth $5,945,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BWFG. BlackRock Inc. lifted its holdings in shares of Bankwell Financial Group by 10.1% in the 2nd 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 during the last quarter. Seidman Lawrence B lifted its holdings in shares of Bankwell Financial Group by 22.2% in the 2nd quarter. Seidman Lawrence B now owns 131,739 shares of the bank’s stock valued at $4,235,000 after acquiring an additional 23,900 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Bankwell Financial Group by 36.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 65,664 shares of the bank’s stock valued at $2,111,000 after acquiring an additional 17,672 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Bankwell Financial Group by 17.1% in the 1st quarter. Millennium Management LLC now owns 23,181 shares of the bank’s stock valued at $748,000 after acquiring an additional 3,387 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Bankwell Financial Group by 29.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 11,900 shares of the bank’s stock valued at $383,000 after acquiring an additional 2,700 shares during the last quarter. 48.17% of the stock is owned by institutional investors and hedge funds.

Bankwell Financial Group stock opened at $29.85 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.13 and a current ratio of 1.13. Bankwell Financial Group Inc has a 1-year low of $29.85 and a 1-year high of $37.83. The stock has a market capitalization of $245.95 million, a P/E ratio of 14.70 and a beta of 0.41.

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 return on equity of 10.79% and a net margin of 19.62%. The firm had revenue of $15.02 million during the quarter, compared to analysts’ expectations of $14.85 million. Sell-side analysts expect that Bankwell Financial Group Inc will post 2.36 EPS for the current fiscal year.

In related news, EVP Laura Waitz sold 1,265 shares of the 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 document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 2,554 shares of company stock worth $80,206 over the last three months. 21.87% of the stock is currently owned by corporate insiders.

A number of research analysts recently commented on the stock. Boenning Scattergood set a $37.00 price target on shares of Bankwell Financial Group and gave the company a “buy” rating in a report on Monday, July 16th. BidaskClub raised shares of Bankwell Financial Group from a “sell” rating to a “hold” rating in a report on Wednesday, June 27th. ValuEngine downgraded shares of Bankwell Financial Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 8th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $34.00 price target on shares of Bankwell Financial Group in a report on Wednesday, August 8th. Finally, Zacks Investment Research raised shares of Bankwell Financial Group from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $35.33.

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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Institutional Ownership by Quarter for Bankwell Financial Group (NASDAQ:BWFG)

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