Bankwell Financial Group (NASDAQ:BWFG) Lowered to “Hold” at Zacks Investment Research

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Zacks Investment Research cut shares of Bankwell Financial Group (NASDAQ:BWFG) from a buy rating to a hold rating in a research report released on Friday, Zacks.com reports.

According to Zacks, “Bankwell Financial Group, Inc. is a commercial bank which serves residents and businesses primarily in Fairfield and New Haven Counties, CT. It offers checking, savings, money market accounts; demand and NOW deposits, certificates of deposit, commercial lending products as well as electronic banking and online banking services. Bankwell Financial Group, Inc. is headquartered in New Canaan, Connecticut. “

Several other research analysts also recently commented on the company. Boenning Scattergood restated a buy rating and set a $34.00 price objective on shares of Bankwell Financial Group in a report on Thursday, August 1st. ValuEngine downgraded Bankwell Financial Group from a hold rating to a sell rating in a report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. Bankwell Financial Group currently has a consensus rating of Hold and an average target price of $33.33.

BWFG opened at $26.76 on Friday. The business’s fifty day moving average price is $28.40. The stock has a market cap of $215.71 million, a P/E ratio of 10.70 and a beta of 0.42. Bankwell Financial Group has a 52 week low of $26.39 and a 52 week high of $32.35. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.09 and a quick ratio of 1.09.

Bankwell Financial Group (NASDAQ:BWFG) last released its quarterly earnings data on Tuesday, July 30th. The bank reported $0.71 EPS for the quarter, topping the consensus estimate of $0.55 by $0.16. The company had revenue of $14.93 million for the quarter, compared to the consensus estimate of $14.65 million. Bankwell Financial Group had a return on equity of 11.48% and a net margin of 21.17%. Equities analysts anticipate that Bankwell Financial Group will post 2.29 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 16th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.94%. Bankwell Financial Group’s dividend payout ratio is presently 21.76%.

Large investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its stake in Bankwell Financial Group by 100.0% in the second quarter. Janney Montgomery Scott LLC now owns 18,501 shares of the bank’s stock worth $531,000 after purchasing an additional 9,251 shares during the period. Strs Ohio boosted its holdings in Bankwell Financial Group by 7.6% in the second quarter. Strs Ohio now owns 11,300 shares of the bank’s stock worth $324,000 after acquiring an additional 800 shares in the last quarter. Context BH Capital Management LP boosted its holdings in Bankwell Financial Group by 21.0% in the first quarter. Context BH Capital Management LP now owns 43,699 shares of the bank’s stock worth $1,275,000 after acquiring an additional 7,574 shares in the last quarter. Seidman Lawrence B boosted its holdings in Bankwell Financial Group by 22.0% in the first quarter. Seidman Lawrence B now owns 698,157 shares of the bank’s stock worth $20,372,000 after acquiring an additional 126,112 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in Bankwell Financial Group by 711.3% in the first quarter. BNP Paribas Arbitrage SA now owns 1,290 shares of the bank’s stock worth $38,000 after acquiring an additional 1,131 shares in the last quarter. Institutional investors and hedge funds own 53.10% of the company’s stock.

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 time, demand, and NOW deposits, as well as certificates of deposit.

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