Bankwell Financial Group, Inc. (NASDAQ:BWFG) Sees Significant Increase in Short Interest

Bankwell Financial Group, Inc. (NASDAQ:BWFG) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 103,000 shares, an increase of 10.5% from the December 15th total of 93,200 shares. Based on an average daily volume of 15,600 shares, the days-to-cover ratio is presently 6.6 days. Currently, 1.7% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

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 note on Wednesday, December 4th.

Insider Activity

In other news, Director Darryl Demos acquired 2,290 shares of Bankwell Financial Group stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average cost of $32.61 per share, with a total value of $74,676.90. Following the transaction, the director now directly owns 8,156 shares of the company’s stock, valued at $265,967.16. This trade represents a 39.04 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP Steven H. Brunner sold 1,330 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $32.98, for a total value of $43,863.40. Following the transaction, the executive vice president now owns 3,002 shares of the company’s stock, valued at $99,005.96. This trade represents a 30.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 2,975 shares of company stock valued at $97,217. 19.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bankwell Financial Group

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its position in shares of Bankwell Financial Group by 60.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,890 shares of the bank’s stock worth $57,000 after buying an additional 715 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Bankwell Financial Group by 164.5% in the third quarter. JPMorgan Chase & Co. now owns 11,638 shares of the bank’s stock worth $349,000 after acquiring an additional 7,238 shares during the period. 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 worth $588,000 after acquiring an additional 938 shares in the last quarter. Barclays PLC increased its position in Bankwell Financial Group by 47.7% during the 3rd quarter. Barclays PLC now owns 20,781 shares of the bank’s stock valued at $623,000 after purchasing an additional 6,710 shares during the period. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Bankwell Financial Group in the 4th quarter valued at about $624,000. 35.80% of the stock is owned by institutional investors.

Bankwell Financial Group Trading Up 1.8 %

Shares of BWFG traded up $0.53 during trading hours on Friday, reaching $30.05. 17,154 shares of the company traded hands, compared to its average volume of 13,249. The stock’s fifty day moving average price is $31.63 and its 200 day moving average price is $29.27. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.59. The firm has a market cap of $236.19 million, a price-to-earnings ratio of 15.41 and a beta of 0.88. Bankwell Financial Group has a 12-month low of $22.47 and a 12-month high of $35.25.

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

Bankwell Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 11th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.80 annualized dividend and a yield of 2.66%. Bankwell Financial Group’s dividend payout ratio (DPR) is currently 41.03%.

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.