Bankwell Financial Group, Inc. (NASDAQ:BWFG) Short Interest Down 9.4% in September

Bankwell Financial Group, Inc. (NASDAQ:BWFG) was the target of a large drop in short interest in September. As of September 30th, there was short interest totalling 98,300 shares, a drop of 9.4% from the September 15th total of 108,500 shares. Based on an average daily trading volume, of 15,700 shares, the days-to-cover ratio is currently 6.3 days. Currently, 1.7% of the shares of the stock are short sold.

Bankwell Financial Group Trading Down 0.0 %

NASDAQ BWFG traded down $0.01 during trading hours on Tuesday, hitting $29.61. 14,004 shares of the company were exchanged, compared to its average volume of 13,342. Bankwell Financial Group has a 52 week low of $22.47 and a 52 week high of $31.09. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average price of $28.73 and a 200 day moving average price of $26.10. The stock has a market cap of $233.86 million, a PE ratio of 7.71 and a beta of 0.83.

Bankwell Financial Group (NASDAQ:BWFG) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. The company had revenue of $48.36 million during the quarter. Bankwell Financial Group had a return on equity of 8.76% and a net margin of 11.76%.

Bankwell Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 12th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend was Monday, August 12th. Bankwell Financial Group’s payout ratio is presently 20.83%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lifted their price objective on shares of Bankwell Financial Group from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th.

Insider Activity

In related news, Director Kevin D. Leitao bought 2,500 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was purchased at an average price of $26.83 per share, for a total transaction of $67,075.00. Following the completion of the transaction, the director now owns 2,500 shares in the company, valued at $67,075. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Kevin D. Leitao bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were bought at an average cost of $26.83 per share, for a total transaction of $67,075.00. Following the completion of the transaction, the director now owns 2,500 shares of the company’s stock, valued at approximately $67,075. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Christine Chivily sold 1,815 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $27.88, for a total value of $50,602.20. Following the transaction, the executive vice president now owns 14,449 shares of the company’s stock, valued at $402,838.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have purchased a total of 2,691 shares of company stock worth $72,620 over the last quarter. Insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Bankwell Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its stake in shares of Bankwell Financial Group by 119.9% during the first quarter. BNP Paribas Financial Markets now owns 2,901 shares of the bank’s stock valued at $75,000 after acquiring an additional 1,582 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Bankwell Financial Group by 42.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,875 shares of the bank’s stock worth $124,000 after buying an additional 1,449 shares during the period. Bridge City Capital LLC increased its stake in shares of Bankwell Financial Group by 17.9% during the first quarter. Bridge City Capital LLC now owns 11,718 shares of the bank’s stock valued at $304,000 after buying an additional 1,780 shares during the period. Empowered Funds LLC raised its holdings in shares of Bankwell Financial Group by 7.6% in the first quarter. Empowered Funds LLC now owns 17,444 shares of the bank’s stock valued at $452,000 after acquiring an additional 1,225 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Bankwell Financial Group by 6.2% in the second quarter. Bank of New York Mellon Corp now owns 28,548 shares of the bank’s stock worth $724,000 after acquiring an additional 1,676 shares during the period. Institutional investors own 35.80% 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 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.