Bankwell Financial Group’s (NASDAQ:BWFG) Buy Rating Reaffirmed at Boenning Scattergood

Boenning Scattergood reissued their buy rating on shares of Bankwell Financial Group (NASDAQ:BWFG) in a research report released on Thursday, August 1st, Stock Target Advisor reports. The brokerage currently has a $34.00 price target on the bank’s stock.

Other research analysts have also recently issued research reports about the stock. ValuEngine cut shares of Bankwell Financial Group from a hold rating to a sell rating in a report on Wednesday, June 26th. Zacks Investment Research upgraded shares of Bankwell Financial Group from a hold rating to a buy rating and set a $32.00 target price for the company in a report on Wednesday, July 31st.

Shares of NASDAQ:BWFG traded down $0.85 during trading hours on Thursday, reaching $25.15. The stock had a trading volume of 11,061 shares, compared to its average volume of 13,988. Bankwell Financial Group has a 1 year low of $24.70 and a 1 year high of $31.89. The firm’s 50 day moving average is $27.40 and its 200-day moving average is $28.89. 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 stock has a market capitalization of $203.87 million, a price-to-earnings ratio of 10.52 and a beta of 0.42.

Bankwell Financial Group (NASDAQ:BWFG) last announced its quarterly earnings data on Tuesday, July 30th. The bank reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.16. Bankwell Financial Group had a net margin of 21.17% and a return on equity of 11.48%. The company had revenue of $14.93 million for the quarter, compared to the consensus estimate of $14.65 million. Analysts forecast that Bankwell Financial Group will post 2.39 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 16th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Thursday, August 15th. Bankwell Financial Group’s dividend payout ratio is currently 21.76%.

A number of large investors have recently modified their holdings of BWFG. BNP Paribas Arbitrage SA increased its holdings in shares of Bankwell Financial Group by 711.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,290 shares of the bank’s stock valued at $38,000 after purchasing an additional 1,131 shares in the last quarter. Bank of America Corp DE increased its holdings in Bankwell Financial Group by 91.5% during the 4th quarter. Bank of America Corp DE now owns 3,992 shares of the bank’s stock valued at $115,000 after acquiring an additional 1,907 shares in the last quarter. Acadian Asset Management LLC increased its holdings 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 acquiring an additional 8,079 shares in the last quarter. Strs Ohio increased its holdings in Bankwell Financial Group by 7.6% during the 2nd quarter. Strs Ohio now owns 11,300 shares of the bank’s stock valued at $324,000 after acquiring an additional 800 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Bankwell Financial Group by 13.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 15,790 shares of the bank’s stock valued at $454,000 after acquiring an additional 1,890 shares in the last quarter. Hedge funds and other institutional investors own 53.89% 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 time, demand, and NOW deposits, as well as certificates of deposit.

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