Bankwell Financial Group (BWFG) Downgraded by Zacks Investment Research to Hold

Bankwell Financial Group (NASDAQ:BWFG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

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 analysts also recently weighed in on BWFG. Boenning Scattergood set a $37.00 target price on shares of Bankwell Financial Group and gave the company a “buy” rating in a report on Monday, July 16th. ValuEngine downgraded shares of Bankwell Financial Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 8th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $34.00 target price on shares of Bankwell Financial Group in a report on Wednesday, August 8th. Finally, BidaskClub downgraded shares of Bankwell Financial Group from a “hold” rating to a “sell” rating in a report on Friday, August 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $35.00.

NASDAQ BWFG opened at $29.73 on Tuesday. The firm has a market capitalization of $232.76 million, a price-to-earnings ratio of 14.65 and a beta of 0.44. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.17. Bankwell Financial Group has a one year low of $29.35 and a one year high of $36.99.

Bankwell Financial Group (NASDAQ:BWFG) last issued its earnings results on Tuesday, October 30th. The bank reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The business had revenue of $15.11 million for the quarter, compared to the consensus estimate of $15.20 million. Bankwell Financial Group had a net margin of 19.82% and a return on equity of 10.88%. Equities analysts anticipate that Bankwell Financial Group will post 2.37 earnings per share for the current year.

In other news, EVP Laura Waitz sold 1,265 shares of Bankwell Financial Group stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $31.30, for a total value of $39,594.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 21.87% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its holdings in Bankwell Financial Group by 6.1% during the second quarter. Renaissance Technologies LLC now owns 184,900 shares of the bank’s stock worth $5,945,000 after buying an additional 10,600 shares in the last quarter. BlackRock Inc. boosted its holdings in Bankwell Financial Group by 10.1% during the second quarter. BlackRock Inc. now owns 302,358 shares of the bank’s stock worth $9,720,000 after buying an additional 27,785 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Bankwell Financial Group by 47.9% during the first quarter. Dimensional Fund Advisors LP now owns 47,992 shares of the bank’s stock worth $1,549,000 after buying an additional 15,543 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Bankwell Financial Group by 29.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 11,900 shares of the bank’s stock worth $383,000 after buying an additional 2,700 shares in the last quarter. Finally, Strs Ohio boosted its holdings in Bankwell Financial Group by 62.1% during the second quarter. Strs Ohio now owns 4,700 shares of the bank’s stock worth $151,000 after buying an additional 1,800 shares in the last quarter. 48.16% of the stock is currently owned by hedge funds and other institutional investors.

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

See Also: How to calculate compound interest

Get a free copy of the Zacks research report on Bankwell Financial Group (BWFG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Bankwell Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bankwell Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply