Hovde Group Increases Bankwell Financial Group (NASDAQ:BWFG) Price Target to $42.00

Bankwell Financial Group (NASDAQ:BWFG) had its price target lifted by equities researchers at Hovde Group from $38.50 to $42.00 in a report issued on Tuesday, MarketBeat.com reports. The brokerage presently has a “market perform” rating on the bank’s stock. Hovde Group’s target price would suggest a potential upside of 8.42% from the stock’s current price.

A number of other brokerages also recently issued reports on BWFG. Wall Street Zen downgraded Bankwell Financial Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 26th. Raymond James Financial initiated coverage on Bankwell Financial Group in a research note on Thursday, June 26th. They set a “market perform” rating for the company. Finally, Keefe, Bruyette & Woods upped their target price on Bankwell Financial Group from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th.

Bankwell Financial Group Trading Down 1.7%

Shares of NASDAQ:BWFG opened at $38.74 on Tuesday. The company has a market capitalization of $304.88 million, a P/E ratio of 15.02 and a beta of 0.66. Bankwell Financial Group has a 1 year low of $24.83 and a 1 year high of $41.13. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.05 and a quick ratio of 1.05. The business’s 50 day simple moving average is $36.31 and its 200 day simple moving average is $32.82.

Bankwell Financial Group (NASDAQ:BWFG) last issued its quarterly earnings results on Monday, July 28th. The bank reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.28. The business had revenue of $47.14 million for the quarter, compared to the consensus estimate of $24.20 million. Bankwell Financial Group had a return on equity of 7.52% and a net margin of 10.27%.

Insiders Place Their Bets

In other Bankwell Financial Group news, insider Ryan Jason Hildebrand sold 1,282 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $36.86, for a total transaction of $47,254.52. Following the completion of the sale, the insider directly owned 2,051 shares in the company, valued at $75,599.86. This represents a 38.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired 1,306 shares of company stock worth $46,585 in the last three months. 19.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bankwell Financial Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in shares of Bankwell Financial Group by 3,002.9% in the 1st quarter. GAMMA Investing LLC now owns 1,086 shares of the bank’s stock valued at $36,000 after acquiring an additional 1,051 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Bankwell Financial Group by 655.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,564 shares of the bank’s stock valued at $49,000 after acquiring an additional 1,357 shares during the last quarter. Deutsche Bank AG bought a new position in shares of Bankwell Financial Group in the 4th quarter valued at $104,000. Strs Ohio bought a new position in shares of Bankwell Financial Group in the 1st quarter valued at $148,000. Finally, Trexquant Investment LP bought a new position in shares of Bankwell Financial Group in the 1st quarter valued at $204,000. 35.80% of the stock is currently owned by institutional investors.

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.