Geode Capital Management LLC Grows Stake in Bankwell Financial Group, Inc. (NASDAQ:BWFG)

Geode Capital Management LLC boosted its stake in Bankwell Financial Group, Inc. (NASDAQ:BWFG) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 147,342 shares of the bank’s stock after purchasing an additional 5,438 shares during the quarter. Geode Capital Management LLC owned approximately 1.87% of Bankwell Financial Group worth $4,413,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of BWFG. BNP Paribas Financial Markets boosted its holdings in Bankwell Financial Group by 60.9% in the third quarter. BNP Paribas Financial Markets now owns 1,890 shares of the bank’s stock valued at $57,000 after acquiring an additional 715 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Bankwell Financial Group by 42.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,875 shares of the bank’s stock valued at $124,000 after purchasing an additional 1,449 shares in the last quarter. Empowered Funds LLC grew its holdings in Bankwell Financial Group by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 19,642 shares of the bank’s stock valued at $588,000 after buying an additional 938 shares in the last quarter. Barclays PLC increased its stake in Bankwell Financial Group by 47.7% in the 3rd quarter. Barclays PLC now owns 20,781 shares of the bank’s stock worth $623,000 after acquiring an additional 6,710 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Bankwell Financial Group by 6.2% during the second quarter. Bank of New York Mellon Corp now owns 28,548 shares of the bank’s stock valued at $724,000 after purchasing an additional 1,676 shares in the last quarter. 35.80% of the stock is currently owned by institutional investors.

Bankwell Financial Group Price Performance

Shares of NASDAQ BWFG opened at $30.18 on Monday. Bankwell Financial Group, Inc. has a 12 month low of $22.47 and a 12 month high of $35.25. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $237.18 million, a price-to-earnings ratio of 15.48 and a beta of 0.88. The firm’s 50 day simple moving average is $31.70 and its 200-day simple moving average is $28.97.

Bankwell Financial Group (NASDAQ:BWFG) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.32. Bankwell Financial Group had a net margin of 7.77% and a return on equity of 5.74%. The company had revenue of $49.35 million during the quarter.

Bankwell Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend was Friday, November 8th. Bankwell Financial Group’s payout ratio is presently 41.03%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised their price target on Bankwell Financial Group from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

Insider Transactions at Bankwell Financial Group

In other Bankwell Financial Group news, Director Darryl Demos purchased 2,290 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $32.61 per share, for a total transaction of $74,676.90. Following the purchase, the director now directly owns 8,156 shares in the company, valued at approximately $265,967.16. This trade represents a 39.04 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven H. Brunner sold 1,330 shares of Bankwell Financial Group stock in a transaction on Monday, December 16th. The shares were sold at an average price of $32.98, for a total transaction of $43,863.40. Following the completion of the transaction, the executive vice president now owns 3,002 shares in the company, valued at approximately $99,005.96. This trade represents a 30.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 2,975 shares of company stock valued at $97,217. Insiders own 19.20% 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.