Bankwell Financial Group Inc (NASDAQ:BWFG) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 121,300 shares, a drop of 6.1% from the October 31st total of 129,200 shares. Based on an average daily volume of 10,800 shares, the days-to-cover ratio is currently 11.2 days. Currently, 1.9% of the shares of the stock are sold short.
Shares of BWFG stock opened at $29.28 on Monday. Bankwell Financial Group has a 1 year low of $24.67 and a 1 year high of $31.89. The stock has a market cap of $229.43 million, a PE ratio of 12.25 and a beta of 0.39. The business’s fifty day moving average is $28.39 and its 200-day moving average is $27.97. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.09.
Bankwell Financial Group (NASDAQ:BWFG) last issued its quarterly earnings results on Wednesday, October 30th. The bank reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). Bankwell Financial Group had a net margin of 20.15% and a return on equity of 11.03%. The firm had revenue of $14.56 million for the quarter, compared to analyst estimates of $14.70 million. Equities research analysts predict that Bankwell Financial Group will post 2.43 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 15th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Thursday, November 14th. Bankwell Financial Group’s dividend payout ratio (DPR) is presently 21.76%.
In other news, Director Todd Lampert sold 2,075 shares of Bankwell Financial Group stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $28.03, for a total transaction of $58,162.25. Following the transaction, the director now directly owns 12,960 shares in the company, valued at approximately $363,268.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Laura Waitz sold 1,875 shares of Bankwell Financial Group stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $25.64, for a total value of $48,075.00. The disclosure for this sale can be found here. 16.30% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp grew its holdings in shares of Bankwell Financial Group by 7.4% in the 3rd quarter. State Street Corp now owns 107,881 shares of the bank’s stock worth $2,967,000 after acquiring an additional 7,444 shares during the last quarter. Bourgeon Capital Management LLC acquired a new position in shares of Bankwell Financial Group in the 3rd quarter worth $154,000. Russell Investments Group Ltd. acquired a new position in shares of Bankwell Financial Group in the 3rd quarter worth $195,000. FNY Investment Advisers LLC grew its holdings in shares of Bankwell Financial Group by 958.7% in the 3rd quarter. FNY Investment Advisers LLC now owns 2,128 shares of the bank’s stock worth $58,000 after acquiring an additional 1,927 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Bankwell Financial Group by 9.1% in the 3rd quarter. Rhumbline Advisers now owns 10,083 shares of the bank’s stock worth $277,000 after acquiring an additional 838 shares during the last quarter. Institutional investors and hedge funds own 53.09% of the company’s stock.
Several equities analysts have recently issued reports on the company. Zacks Investment Research cut Bankwell Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. ValuEngine upgraded Bankwell Financial Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd.
About Bankwell Financial Group
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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