Bankwell Financial Group (BWFG) Raised to “Buy” at Zacks Investment Research

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Bankwell Financial Group (NASDAQ:BWFG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The firm presently has a $34.00 price objective on the bank’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 14.56% from the company’s current price.

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. “

A number of other analysts also recently weighed in on BWFG. Keefe, Bruyette & Woods restated a “hold” rating and issued a $34.00 target price on shares of Bankwell Financial Group in a report on Wednesday, August 8th. Boenning Scattergood restated a “buy” rating on shares of Bankwell Financial Group in a report on Thursday, November 1st. ValuEngine downgraded shares of Bankwell Financial Group from a “hold” rating to a “sell” rating 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 analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Bankwell Financial Group currently has a consensus rating of “Hold” and an average target price of $35.00.

Bankwell Financial Group stock opened at $29.68 on Monday. Bankwell Financial Group has a twelve month low of $29.35 and a twelve month high of $36.99. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $237.32 million, a PE ratio of 12.93 and a beta of 0.44.

Bankwell Financial Group (NASDAQ:BWFG) last posted its earnings results on Tuesday, October 30th. The bank reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Bankwell Financial Group had a net margin of 19.82% and a return on equity of 10.88%. The firm had revenue of $15.11 million for the quarter, compared to the consensus estimate of $15.20 million. On average, equities analysts forecast that Bankwell Financial Group will post 2.37 earnings per share for the current fiscal year.

In other news, EVP Laura Waitz sold 1,265 shares of the business’s 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 21.87% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Strs Ohio grew its holdings in Bankwell Financial Group by 62.1% during the 2nd quarter. Strs Ohio now owns 4,700 shares of the bank’s stock valued at $151,000 after purchasing an additional 1,800 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Bankwell Financial Group by 29.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 11,900 shares of the bank’s stock valued at $383,000 after purchasing an additional 2,700 shares during the last quarter. Millennium Management LLC grew its holdings in Bankwell Financial Group by 17.1% during the 1st quarter. Millennium Management LLC now owns 23,181 shares of the bank’s stock valued at $748,000 after purchasing an additional 3,387 shares during the last quarter. LSV Asset Management grew its holdings in Bankwell Financial Group by 123.1% during the 2nd quarter. LSV Asset Management now owns 9,200 shares of the bank’s stock valued at $295,000 after purchasing an additional 5,076 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Bankwell Financial Group by 46.7% during the 3rd quarter. Wells Fargo & Company MN now owns 17,485 shares of the bank’s stock valued at $548,000 after purchasing an additional 5,563 shares during the last quarter. Institutional investors own 48.16% 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 demand and NOW deposits, as well as certificates of deposit.

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