Bankwell Financial Group (NASDAQ:BWFG) Announces Quarterly Earnings Results

Bankwell Financial Group (NASDAQ:BWFG) announced its quarterly earnings results on Wednesday. The bank reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.33), Zacks reports. Bankwell Financial Group had a return on equity of 5.74% and a net margin of 7.77%.

Bankwell Financial Group Stock Performance

Shares of BWFG stock traded down $0.09 during trading hours on Wednesday, reaching $29.74. 11,685 shares of the company’s stock were exchanged, compared to its average volume of 14,499. The business has a fifty day moving average price of $31.59 and a 200-day moving average price of $29.34. Bankwell Financial Group has a fifty-two week low of $22.47 and a fifty-two week high of $35.25. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $233.76 million, a P/E ratio of 15.25 and a beta of 0.88.

Bankwell Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Friday, November 8th. Bankwell Financial Group’s dividend payout ratio (DPR) is currently 41.03%.

Insider Activity

In related news, EVP Steven H. Brunner sold 1,330 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $32.98, for a total transaction of $43,863.40. Following the completion of the transaction, the executive vice president now owns 3,002 shares in the company, valued at $99,005.96. This trade represents a 30.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Darryl Demos purchased 2,290 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average cost of $32.61 per share, for a total transaction of $74,676.90. Following the purchase, the director now owns 8,156 shares in the company, valued at $265,967.16. This represents a 39.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 2,975 shares of company stock valued at $97,217. Insiders own 19.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lifted their price target on shares of Bankwell Financial Group from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th.

Bankwell Financial Group Company Profile

Bankwell Financial Group, Inc operates as the bank holding company for Bankwell Bank that provides various banking services for individual and commercial customers. It offers various traditional depository products, including checking, savings, money market, and certificates of deposit. The company also provides first mortgage loans secured by one-to-four family owner occupied residential properties for personal use; home equity loans and home equity lines of credit secured by owner occupied one-to-four family residential properties; loans secured by commercial real estate, multi-family dwellings, owner-occupied commercial real estate, and investor-owned one-to-four family dwellings; commercial construction loans for commercial development projects, including apartment buildings and condominiums, as well as office buildings, retail, and other income producing properties; land loans; commercial business loans secured by assignments of corporate assets and personal guarantees of the business owners; loans to finance insurance premiums; overdraft lines of credit; and unsecured personal loans.