Short-term stake in Bankwell Financial Group, Inc. (NASDAQ:BWFG) drops 8.1%
Bankwell Financial Group, Inc. (NASDAQ: BWFG – Get Rating) benefited from a sharp drop in short interest during October. As of October 15, there was short interest totaling 118,500 shares, down 8.1% from the September 30 total of 129,000 shares. Currently, 2.1% of the stock’s shares are sold short. Based on an average daily volume of 26,000 shares, the short interest ratio is currently 4.6 days.
Insider Activity at Bankwell Financial Group
In other Bankwell Financial Group news, COO Laura Waitz sold 1,500 shares of the company in a trade dated Monday, August 1. The shares were sold at an average price of $32.69, for a total value of $49,035.00. Following the completion of the transaction, the COO now directly owns 1,253 shares of the company, valued at $40,960.57. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Separately, director Darryl Demos purchased 2,350 shares of the company in a trade on Monday, August 29. The stock was purchased at an average cost of $32.15 per share, with a total value of $75,552.50. Following the completion of the purchase, the administrator now owns 3,800 shares of the company, valued at approximately $122,170. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Additionally, COO Laura Waitz sold 1,500 shares of the company in a trade dated Monday, August 1. The stock was sold at an average price of $32.69, for a total transaction of $49,035.00. Following the completion of the transaction, the COO now directly owns 1,253 shares of the company, valued at $40,960.57. The disclosure of this sale can be found here. In the past ninety days, insiders have bought 2,643 shares of the company worth $85,114 and sold 2,500 shares worth $78,945. 28.00% of the shares are currently held by insiders.
Institutional investors weigh in on Bankwell Financial Group
Several institutional investors have recently changed their holdings in BWFG. Better Money Decisions LLC acquired a new stake in shares of Bankwell Financial Group during Q2 worth approximately $34,000. BNP Paribas Arbitrage SA acquired a new position in Bankwell Financial Group during the second quarter worth approximately $39,000. Allspring Global Investments Holdings LLC acquired a new position in Bankwell Financial Group during the third quarter worth approximately $51,000. FNY Investment Advisers LLC acquired a new position in Bankwell Financial Group during the first quarter worth approximately $67,000. Finally, US Bancorp DE increased its stake in Bankwell Financial Group by 15.6% during the first quarter. US Bancorp DE now owns 2,219 shares of the bank valued at $75,000 after buying 300 additional shares during the period. Institutional investors and hedge funds own 35.06% of the company’s shares.
Bankwell Financial Group grew by 1.8%
Shares of NASDAQ:BWFG traded at $0.54 during Friday’s trading, hitting $30.72. 17,218 shares of the company were traded, against an average volume of 31,394. Bankwell Financial Group has a 1-year low of $27.76 and a 1-year high of $36.87. The company has a 50-day moving average price of $30.45 and a two-hundred-day moving average price of $32.19. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt ratio of 0.62. The company has a market capitalization of $238.39 million, a P/E ratio of 6.45 and a beta of 0.74.
Bankwell Financial Group (NASDAQ:BWFG – Get Rating) last released its quarterly results on Wednesday, July 27. The bank reported EPS of $1.15 for the quarter. Bankwell Financial Group posted a net margin of 35.94% and a return on equity of 16.08%. The company had revenue of $24.98 million in the quarter.
Bankwell Financial Group announces dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, November 21. Shareholders of record on Friday, November 11 will receive a dividend of $0.20 per share. This represents an annualized dividend of $0.80 and a dividend yield of 2.60%. The ex-date of this dividend is Wednesday, November 9. Bankwell Financial Group’s dividend payout ratio is 16.81%.
A Wall Street analyst gives his opinion
Separately, StockNews.com took over coverage of Bankwell Financial Group stocks in a Wednesday, October 12 research note. They issued a “buy” rating for the company.
About Bankwell Financial Group
(Get an assessment)
Bankwell Financial Group, Inc operates as a banking holding company for Bankwell Bank which provides various personal and corporate banking services. It offers various traditional deposit products, including checks, savings, money market and certificates of deposit. The company also offers first mortgage loans secured by residential properties occupied by one to four families for personal use; home equity loans and home equity lines of credit secured by owner-occupied single family residential properties of one to four families; loans secured by investor-owned commercial real estate, multi-family dwellings and single-family dwellings; commercial construction loans for commercial development projects, including apartment buildings and condominiums, as well as office buildings, retail and other income-generating properties; land loans; commercial enterprise loans secured by assignments of corporate assets and personal guarantees from business owners; loans secured by savings or certificate accounts and automobiles; and unsecured personal loans and overdraft lines of credit.
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