On December 5, 2023, Carl Porto, a director at Bankwell Financial Group (NASDAQ: BWFG), acquired 470 shares of the company’s stock for a total of $22,390.80. This purchase was made at an average price of $47.64 per share, increasing his total holdings to 21,307 shares, valued at approximately $1,015,065.48. This transaction reflects a 2.26% increase in Porto’s ownership in the company.
Stock Performance and Market Metrics
Following the acquisition, shares of Bankwell Financial Group experienced a slight increase, trading up $0.32 to reach $47.66 during Monday’s session. The trading volume reached 4,975 shares, which is below the average volume of 22,411 shares. Over the past few months, the stock has shown significant volatility, with a 50-day moving average of $44.08 and a 200-day moving average of $40.87. The firm currently boasts a market capitalization of $375.52 million and a price-to-earnings ratio of 13.20, alongside a beta of 0.71.
In terms of liquidity, Bankwell Financial Group has a current ratio and quick ratio of 1.07, with a debt-to-equity ratio of 0.49. The company has a 52-week trading range with a low of $26.39 and a high of $48.95.
Recent Earnings and Analyst Ratings
On October 23, 2023, Bankwell Financial Group reported its quarterly earnings, posting an earnings per share (EPS) of $1.27, surpassing the consensus estimate of $1.02 by $0.25. The bank achieved a net margin of 14.10% and a return on equity of 10.18%, with revenues totaling $28.48 million, exceeding the forecast of $27.26 million.
In light of these performance metrics, several analysts have adjusted their ratings for the stock. Notably, Keefe, Bruyette & Woods raised their target price for Bankwell Financial Group from $48.00 to $53.00, designating the stock as “outperform” in a report dated October 27, 2023. Conversely, Wall Street Zen downgraded the stock from “strong-buy” to “buy” on August 11, 2023. Currently, two analysts have given the stock a buy rating, while two others have assigned a hold rating, resulting in an average rating of “Moderate Buy” and an average price target of $47.50, according to MarketBeat.
As institutional investments continue to shift, several large investors have recently altered their positions in the company. For example, Acadian Asset Management LLC increased its stake by 5.5% during the second quarter, now holding 93,233 shares worth approximately $3,357,000. Other institutions, including Nuveen LLC and GM Advisory Group LLC, have also made significant adjustments to their holdings, indicating increased interest in Bankwell Financial Group. Currently, approximately 35.80% of the stock is owned by hedge funds and institutional investors.
Company Overview
Bankwell Financial Group, Inc. functions as the bank holding company for Bankwell Bank, providing a range of banking services to both individual and commercial customers. Its offerings include traditional depository products, such as checking and savings accounts, as well as various types of loans including mortgages, home equity lines, and commercial real estate financing.
The company’s commitment to delivering diverse financial solutions continues to position it as a competitive player in the banking sector. As Bankwell Financial Group navigates ongoing market changes, its recent performance and strategic decisions will likely be closely monitored by investors and analysts alike.
