Bankwell Financial Group (NASDAQ: BWFG) cut to “hold” at Zacks Investment Research
Bankwell Financial Group (NASDAQ: BWFG) has been downgraded from Zacks investment research from a âbuyâ note to a âkeepâ note in a research note issued to investors on Tuesday, Zacks.com reports.
According to Zacks, âBankwell Financial Group, Inc. is a commercial bank that serves residents and businesses primarily in Fairfield and New Haven, CT counties. loan products as well as electronic banking and online banking services. Bankwell Financial Group, Inc. is headquartered in New Canaan, Connecticut. “
BWFG shares traded down $ 0.22 during the midday session Tuesday, reaching $ 31.91. The company had a trading volume of 42,874 shares, compared to its average volume of 28,212. The company has a 50-day moving average of $ 31.06. The company has a current ratio of 1.03, a quick ratio of 1.03, and a debt to equity ratio of 0.49. Bankwell Financial Group has a one-year low at $ 18.22 and a one-year high at $ 33.99. The company has a market cap of $ 250.27 million, a PE ratio of 13.24 and a beta of 0.84.
Bankwell Financial Group (NASDAQ: BWFG) last reported its results on Tuesday, October 26. The bank reported earnings per share (EPS) of $ 0.87 for the quarter, beating the consensus estimate of $ 0.82 by $ 0.05 by Thomson Reuters. Bankwell Financial Group had a net margin of 22.73% and a return on equity of 10.17%. The company posted revenue of $ 19.16 million for the quarter, compared to analysts’ expectations of $ 18.60 million. Research analysts predict that Bankwell Financial Group will post earnings per share of 3.26 for the current year.
In other Bankwell Financial Group news, Director Lawrence B. Seidman acquired 7,186 shares of the company in a trade on Monday, November 29. The stock was purchased at an average price of $ 31.00 per share, for a total value of $ 222,766.00. The purchase was disclosed in a legal file with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Matt Mcneill acquired 11,070 shares of the company in a transaction on Tuesday, November 9. The stock was acquired at an average cost of $ 31.12 per share, for a total value of $ 344,498.40. Disclosure of this purchase can be found here. Insiders bought 21,604 shares of the company worth $ 670,931 in the last quarter. Insiders hold 26.45% of the shares of the company.
A number of institutional investors have recently changed their holdings in the company. Russell Investments Group Ltd. acquired a new stake in Bankwell Financial Group during the second quarter for a value of approximately $ 30,000. Public Employees Retirement System of Ohio strengthened its position in Bankwell Financial Group by 81.8% in the second quarter. The Ohio Public Employee Retirement System now owns 2,000 shares of the bank worth $ 55,000 after purchasing an additional 900 shares during the period. Hillsdale Investment Management Inc. acquired a new position in shares of Bankwell Financial Group during the third quarter valued at approximately $ 55,000. UBS Group AG increased its equity stake in Bankwell Financial Group by 23.3% in the third quarter. UBS Group AG now owns 2,428 shares of the bank valued at $ 70,000 after purchasing an additional 459 shares in the last quarter. Finally, the Royal Bank of Canada increased its stake in Bankwell Financial Group shares by 42.6% in the second quarter. Royal Bank of Canada now owns 7,573 shares of the bank valued at $ 209,000 after purchasing an additional 2,263 shares in the last quarter. Hedge funds and other institutional investors hold 33.92% of the company’s shares.
Bankwell Financial Group Company Profile
Bankwell Financial Group, Inc. is a banking holding company which provides financial services through its banking subsidiary, Bankwell Bank. It offers checks, savings, money market, online and mobile banking, debit cards and personal loans. The company also provides business banking solutions such as business auditing, cash management, business savings, business services, business loans and lines of credit, and commercial mortgages.
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