Banc Funds Co. LLC cut its stake in Bankwell Financial Group Inc (NASDAQ:BWFG) by 3.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 477,232 shares of the bank’s stock after selling 15,000 shares during the period. Bankwell Financial Group accounts for approximately 0.9% of Banc Funds Co. LLC’s portfolio, making the stock its 29th largest position. Banc Funds Co. LLC owned 6.09% of Bankwell Financial Group worth $14,966,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Strs Ohio lifted its holdings in Bankwell Financial Group by 62.1% in the second quarter. Strs Ohio now owns 4,700 shares of the bank’s stock worth $151,000 after buying an additional 1,800 shares during the period. LSV Asset Management lifted its holdings in Bankwell Financial Group by 123.1% in the second quarter. LSV Asset Management now owns 9,200 shares of the bank’s stock worth $295,000 after buying an additional 5,076 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Bankwell Financial Group by 29.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 11,900 shares of the bank’s stock worth $383,000 after buying an additional 2,700 shares during the period. Wells Fargo & Company MN lifted its holdings in Bankwell Financial Group by 46.7% in the third quarter. Wells Fargo & Company MN now owns 17,485 shares of the bank’s stock worth $548,000 after buying an additional 5,563 shares during the period. Finally, Millennium Management LLC lifted its holdings in Bankwell Financial Group by 17.1% in the first quarter. Millennium Management LLC now owns 23,181 shares of the bank’s stock worth $748,000 after buying an additional 3,387 shares during the period. Institutional investors and hedge funds own 49.65% of the company’s stock.
In other news, EVP Laura Waitz sold 1,265 shares of Bankwell Financial Group stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $31.30, for a total transaction of $39,594.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.87% of the stock is currently owned by company insiders.
BWFG has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Bankwell Financial Group from a “buy” rating to a “hold” rating in a report on Monday, September 17th. Boenning Scattergood reiterated a “buy” rating on shares of Bankwell Financial Group in a report on Thursday, November 1st. BidaskClub lowered shares of Bankwell Financial Group from a “hold” rating to a “sell” rating in a report on Friday, August 10th. ValuEngine lowered shares of Bankwell Financial Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 8th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $34.00 target price on shares of Bankwell Financial Group in a report on Wednesday, August 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Bankwell Financial Group currently has an average rating of “Hold” and an average target price of $35.00.
BWFG stock opened at $29.73 on Friday. Bankwell Financial Group Inc has a 52-week low of $29.35 and a 52-week high of $36.99. The company has a market cap of $232.72 million, a PE ratio of 14.65 and a beta of 0.44. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.17.
Bankwell Financial Group (NASDAQ:BWFG) last released its earnings results on Tuesday, October 30th. The bank reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Bankwell Financial Group had a net margin of 19.82% and a return on equity of 10.88%. The firm had revenue of $15.11 million during the quarter, compared to analyst estimates of $15.20 million. Sell-side analysts predict that Bankwell Financial Group Inc will post 2.37 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 26th. Stockholders of record on Friday, November 16th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, November 15th. This represents a $0.48 annualized dividend and a dividend yield of 1.61%. Bankwell Financial Group’s payout ratio is 23.65%.
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Bankwell Financial Group Company Profile
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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