Corient Private Wealth LP Buys New Shares in Bankwell Financial Group, Inc. $BWFG

Corient Private Wealth LP acquired a new position in Bankwell Financial Group, Inc. (NASDAQ:BWFG) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 21,904 shares of the bank’s stock, valued at approximately $1,287,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Barclays PLC grew its position in Bankwell Financial Group by 1.3% during the third quarter. Barclays PLC now owns 24,040 shares of the bank’s stock valued at $1,064,000 after purchasing an additional 307 shares in the last quarter. BNP Paribas Financial Markets increased its position in Bankwell Financial Group by 38.8% during the second quarter. BNP Paribas Financial Markets now owns 1,124 shares of the bank’s stock worth $40,000 after buying an additional 314 shares during the last quarter. GM Advisory Group LLC increased its holdings in shares of Bankwell Financial Group by 0.4% during the 1st quarter. GM Advisory Group LLC now owns 106,498 shares of the bank’s stock valued at $5,167,000 after acquiring an additional 439 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Bankwell Financial Group by 585.0% in the third quarter. Russell Investments Group Ltd. now owns 685 shares of the bank’s stock valued at $30,000 after purchasing an additional 585 shares during the period. Finally, Legal & General Group Plc bought a new stake in Bankwell Financial Group during the 2nd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 35.80% of the company’s stock.

Bankwell Financial Group Stock Up 1.9%

Shares of Bankwell Financial Group stock opened at $67.39 on Friday. The business’s 50 day simple moving average is $63.76 and its 200 day simple moving average is $55.45. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $537.10 million, a PE ratio of 12.60 and a beta of 0.58. Bankwell Financial Group, Inc. has a 52-week low of $40.44 and a 52-week high of $69.59.

Bankwell Financial Group (NASDAQ:BWFG) last issued its earnings results on Thursday, July 23rd. The bank reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.23. Bankwell Financial Group had a net margin of 19.80% and a return on equity of 13.94%. The company had revenue of $32.78 million for the quarter, compared to analysts’ expectations of $30.63 million. On average, analysts predict that Bankwell Financial Group, Inc. will post 5.7 earnings per share for the current fiscal year.

Bankwell Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Monday, August 10th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, August 10th. This represents a $0.80 annualized dividend and a yield of 1.2%. Bankwell Financial Group’s dividend payout ratio is presently 14.95%.

Insider Activity at Bankwell Financial Group

In other Bankwell Financial Group news, Director Lawrence B. Seidman purchased 2,540 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was purchased at an average cost of $65.92 per share, for a total transaction of $167,436.80. Following the acquisition, the director owned 223,684 shares in the company, valued at approximately $14,745,249.28. The trade was a 1.15% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan Hildebrand sold 2,246 shares of Bankwell Financial Group stock in a transaction on Friday, July 31st. The shares were sold at an average price of $66.74, for a total transaction of $149,898.04. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 20.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BWFG. Keefe, Bruyette & Woods lifted their price objective on Bankwell Financial Group from $62.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, July 28th. Hovde Group boosted their price objective on shares of Bankwell Financial Group from $51.00 to $63.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Weiss Ratings upgraded shares of Bankwell Financial Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, August 13th. Finally, Zacks Research raised Bankwell Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $67.50.

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.