StockNews.com downgraded shares of Bankwell Financial Group (NASDAQ:BWFG – Get Rating) from a buy rating to a hold rating in a report issued on Thursday morning.
Bankwell Financial Group Trading Down 1.9 %
NASDAQ:BWFG opened at $29.47 on Thursday. The company has a market capitalization of $227.21 million, a PE ratio of 6.13 and a beta of 0.71. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.69. Bankwell Financial Group has a 52-week low of $27.76 and a 52-week high of $36.87. The stock has a fifty day simple moving average of $29.56 and a 200-day simple moving average of $30.57.
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Bankwell Financial Group Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 23rd. Stockholders of record on Monday, February 13th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, February 10th. Bankwell Financial Group's dividend payout ratio (DPR) is presently 16.63%.
Insider Transactions at Bankwell Financial Group
In related news, Director James M. Garnett, Jr. acquired 962 shares of the company's stock in a transaction that occurred on Friday, December 9th. The stock was purchased at an average price of $29.00 per share, for a total transaction of $27,898.00. Following the transaction, the director now owns 23,513 shares in the company, valued at approximately $681,877. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through
this link. In other news, Director James M. Garnett, Jr. bought 962 shares of the firm's stock in a transaction dated Friday, December 9th. The stock was acquired at an average price of $29.00 per share, for a total transaction of $27,898.00. Following the acquisition, the director now owns 23,513 shares of the company's stock, valued at $681,877. The transaction was disclosed in a document filed with the SEC, which is accessible through
this link. Also, Director James M. Garnett, Jr. bought 1,540 shares of the firm's stock in a transaction dated Wednesday, December 7th. The shares were purchased at an average price of $28.97 per share, with a total value of $44,613.80. Following the acquisition, the director now directly owns 22,332 shares in the company, valued at approximately $646,958.04. The disclosure for this purchase can be found
here. Insiders bought 3,263 shares of company stock valued at $94,911 in the last 90 days. 28.00% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Bankwell Financial Group
Several hedge funds and other institutional investors have recently bought and sold shares of BWFG. State Street Corp lifted its position in Bankwell Financial Group by 185.2% during the 2nd quarter. State Street Corp now owns 62,950 shares of the bank's stock worth $1,955,000 after acquiring an additional 40,878 shares in the last quarter. Northern Trust Corp raised its position in shares of Bankwell Financial Group by 123.2% in the 2nd quarter. Northern Trust Corp now owns 68,236 shares of the bank's stock valued at $2,119,000 after purchasing an additional 37,663 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in shares of Bankwell Financial Group in the 1st quarter valued at approximately $1,031,000. LSV Asset Management raised its position in shares of Bankwell Financial Group by 143.7% in the 1st quarter. LSV Asset Management now owns 46,763 shares of the bank's stock valued at $1,582,000 after purchasing an additional 27,576 shares in the last quarter. Finally, First Trust Advisors LP acquired a new position in shares of Bankwell Financial Group in the 3rd quarter valued at approximately $585,000. 33.48% of the stock is owned by institutional investors and hedge funds.
About Bankwell Financial Group
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Bankwell Financial Group, Inc is a bank holding company, which engages in the provision of financial services through its banking subsidiary, Bankwell Bank. It offers checking, savings, money market, online and mobile banking, debit cards, and personal loans. The firm also delivers business banking solutions such as business checking, treasury management, business savings, commercial services, business loans and lines of credit, and commercial mortgages.
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