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

Geode Capital Management LLC raised its position in Bankwell Financial Group, Inc. (NASDAQ:BWFG) by 3.8% during the third quarter, HoldingsChannel.com reports. The firm owned 147,342 shares of the bank’s stock after buying an additional 5,438 shares during the quarter. Geode Capital Management LLC’s holdings in Bankwell Financial Group were worth $4,413,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fourthstone LLC acquired a new position in shares of Bankwell Financial Group during the third quarter worth $776,000. Barclays PLC increased its holdings in Bankwell Financial Group by 47.7% in the third quarter. Barclays PLC now owns 20,781 shares of the bank’s stock valued at $623,000 after buying an additional 6,710 shares during the last quarter. GM Advisory Group LLC boosted its holdings in Bankwell Financial Group by 7.7% in the second quarter. GM Advisory Group LLC now owns 89,154 shares of the bank’s stock worth $2,262,000 after purchasing an additional 6,341 shares during the period. Bank of New York Mellon Corp increased 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 during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of 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 worth $124,000 after purchasing an additional 1,449 shares during the period. 35.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Bankwell Financial Group Stock Performance

BWFG stock opened at $30.18 on Monday. The company has a 50-day simple moving average of $31.70 and a 200 day simple moving average of $28.97. The company has a market capitalization of $237.18 million, a P/E ratio of 15.48 and a beta of 0.88. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.59. Bankwell Financial Group, Inc. has a fifty-two week low of $22.47 and a fifty-two week high of $35.25.

Bankwell Financial Group (NASDAQ:BWFG) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.24 earnings per share for the quarter, topping 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 company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Friday, November 8th. Bankwell Financial Group’s dividend payout ratio is presently 41.03%.

Insiders Place Their Bets

In other news, EVP Steven H. Brunner sold 1,330 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $32.98, for a total transaction of $43,863.40. Following the completion of the sale, the executive vice president now owns 3,002 shares in the company, valued at approximately $99,005.96. This represents a 30.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Darryl Demos acquired 2,290 shares of Bankwell Financial Group stock in a transaction dated Friday, December 13th. The stock was purchased at an average price of $32.61 per share, with a total value of $74,676.90. Following the completion of the purchase, the director now directly owns 8,156 shares of the company’s stock, valued at $265,967.16. The trade was a 39.04 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 2,975 shares of company stock worth $97,217 over the last ninety days. 19.20% of the stock is currently owned by company insiders.

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.