Bankwell Financial Group (NASDAQ:BWFG) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Bankwell Financial Group, Inc. (NASDAQ:BWFG) shares passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $53.44 and traded as high as $59.59. Bankwell Financial Group shares last traded at $58.75, with a volume of 68,757 shares trading hands.

Wall Street Analysts Forecast Growth

BWFG has been the subject of several recent analyst reports. Weiss Ratings lowered shares of Bankwell Financial Group from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 24th. Wall Street Zen downgraded Bankwell Financial Group from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.00.

Bankwell Financial Group Stock Down 1.8%

The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $468.24 million, a price-to-earnings ratio of 11.80 and a beta of 0.62. The business’s 50-day moving average is $53.44 and its 200-day moving average is $50.14.

Bankwell Financial Group (NASDAQ:BWFG) last announced its quarterly earnings results on Wednesday, April 22nd. The bank reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.18. The company had revenue of $30.23 million during the quarter, compared to analysts’ expectations of $30.47 million. Bankwell Financial Group had a return on equity of 13.31% and a net margin of 18.71%. As a group, equities analysts predict that Bankwell Financial Group, Inc. will post 5.35 earnings per share for the current year.

Bankwell Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Friday, May 8th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, May 8th. Bankwell Financial Group’s payout ratio is currently 16.06%.

Insiders Place Their Bets

In related news, Director Todd Lampert sold 3,500 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $53.59, for a total value of $187,565.00. Following the transaction, the director directly owned 12,366 shares of the company’s stock, valued at approximately $662,693.94. This trade represents a 22.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eric J. Dale bought 588 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was purchased at an average price of $53.70 per share, for a total transaction of $31,575.60. Following the transaction, the director owned 42,496 shares of the company’s stock, valued at approximately $2,282,035.20. This represents a 1.40% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 7,156 shares of company stock valued at $370,525. Corporate insiders own 20.98% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BWFG. Empowered Funds LLC grew its position in shares of Bankwell Financial Group by 3.4% in the first quarter. Empowered Funds LLC now owns 21,262 shares of the bank’s stock valued at $642,000 after purchasing an additional 702 shares in the last quarter. Jane Street Group LLC purchased a new position in Bankwell Financial Group during the first quarter worth approximately $250,000. Strs Ohio purchased a new position in Bankwell Financial Group during the first quarter worth approximately $148,000. Geode Capital Management LLC boosted its stake in Bankwell Financial Group by 5.4% during the second quarter. Geode Capital Management LLC now owns 159,384 shares of the bank’s stock worth $5,744,000 after buying an additional 8,178 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Bankwell Financial Group by 15.2% during the second quarter. Rhumbline Advisers now owns 10,119 shares of the bank’s stock worth $365,000 after buying an additional 1,335 shares during the last quarter. 35.80% of the stock is owned by hedge funds and other institutional investors.

Bankwell Financial Group Company Profile

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.