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BWFG

Bankwell Financial Group NasdaqGM:BWFG Stock Report

Last Price

US$29.85

Market Cap

US$225.9m

7D

-3.3%

1Y

2.4%

Updated

28 Sep, 2022

Data

Company Financials +
BWFG fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance5/6
Financial Health6/6
Dividends2/6

BWFG Stock Overview

Bankwell Financial Group, Inc. operates as the bank holding company for Bankwell Bank that provides various banking services for individual and commercial customers.

Bankwell Financial Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Bankwell Financial Group
Historical stock prices
Current Share PriceUS$29.85
52 Week HighUS$36.87
52 Week LowUS$29.02
Beta0.74
1 Month Change-6.72%
3 Month Change-3.87%
1 Year Change2.44%
3 Year Change9.18%
5 Year Change-15.77%
Change since IPO326.43%

Recent News & Updates

Sep 22

Bankwell Financial: Growth Of Loan Volume To Counter Margin Compression

Summary The rapid rise in interest rates will hurt the net interest margin as liability repricing will outweigh asset repricing. Connecticut’s economic activity will likely keep loan growth at an elevated level. The December 2022 target price suggests a high upside from the current market price. Further, BWFG is offering a decent dividend yield. Earnings of Bankwell Financial Group, Inc. (BWFG) will surge this year on the back of heightened loan growth and extraordinary prepayment fees. On the other hand, future margin compression and heightened provisioning will restrict earnings growth. Overall, I'm expecting Bankwell Financial to report earnings of $4.60 per share for 2022, up 37% year-over-year. For 2023, I'm expecting earnings to dip by just 1% to $4.57 per share. The December 2022 target price suggests a high upside from the current market price. Therefore, I'm maintaining a buy rating on Bankwell Financial Group. Rising Interest Rates to Thrash the Margin The ongoing rate up-cycle has been steeper and longer than previously anticipated. The Federal Reserve has already increased the fed funds rate by 300 basis points so far this year and is projecting a further around 150 basis points hike till the end of next year. Such large monetary tightening is going to hurt Bankwell Financial this year and the next. This is because the company's balance sheet is currently in an unfavorable position. More liabilities than assets are subject to repricing as interest rates change, according to details given in the 10-Q filing. Negotiable order of withdrawal, money market, and savings accounts made up 58% of total deposits at the end of June 2022. These deposits will reprice soon after every rate hike. In comparison, only around 22% of the loan portfolio is either floating or set to reprice in the next twelve months, as mentioned in the earnings presentation. The results of the management's interest-rate sensitivity analysis given in the 10-Q filing showed that a 200-basis points ramp in interest rates can decrease the net interest income by 4.0% over twelve months. 2Q 2022 10-Q Filing Despite the liability sensitivity, the net interest margin actually increased during the second quarter to 4.01% from 3.30% in the first quarter of this year. This expansion was attributable to elevated loan prepayment fees, which the management doesn't expect to recur, as mentioned in the earnings release. Further, strong loan growth during the quarter contributed to the margin expansion. The effect of the loan growth gives me hope that Bankwell Financial will be able to ride out this up-rate cycle without too much damage. However, unlike most other banks, Bankwell Financial will most certainly not benefit from rising interest rates. Considering these factors, I'm expecting the margin to plunge by 50 basis points in the second half of 2022 and then remain somewhat stable in 2023. Compared to my last report on Bankwell Financial Group, I've increased the margin estimate for 2022 because of the second quarter's surprisingly good performance. Excluding the elevated prepayment fees, I've reduced my margin estimate. Healthy Pipelines, Regional Economic Activity to Sustain Loan Growth The strong loan growth trend that started last year continued in the second quarter of 2022, with the portfolio increasing by 3.7% during the quarter, or 14.7% annualized. Loan growth will likely remain elevated in the near term as the management mentioned in the earnings release that the third quarter's loan pipeline is at record levels. Further, economic activity will help with loan growth. Bankwell Financial serves businesses and residents of Connecticut. While the state's unemployment rate is higher than the national average, it is still at a very good level from a historical perspective. Data by YCharts As more than 91% of total loans are to commercial borrowers (including commercial real estate), the coincident economic activity index is another good indicator of credit demand. This index includes the unemployment rate, average hours worked, and wages and salaries. As shown below, economic activity in Connecticut is back to the pre-pandemic level. Federal Reserve Bank of Philadelphia Bankwell Financial closed its Wilton branch in July, which leaves just nine branches in total. The branch closing could have a negative effect on loan growth. Further, high interest rates are likely to reduce the credit demand for projects that are not urgent. Considering these factors, I'm expecting the loan portfolio to increase by 3% every quarter till the end of 2023. Meanwhile, I'm expecting other balance sheet items to grow somewhat in line with loans. The following table shows my balance sheet estimates. FY18 FY19 FY20 FY21 FY22E FY23E Financial Position Net Loans 1,587 1,589 1,602 1,875 2,161 2,432 Growth of Net Loans 4.3% 0.1% 0.8% 17.1% 15.2% 12.6% Other Earning Assets 119 101 111 161 140 151 Deposits 1,502 1,492 1,827 2,124 2,157 2,428 Borrowings and Sub-Debt 185 175 200 84 145 157 Common equity 174 182 177 202 218 246 Book Value Per Share ($) 22.4 23.4 22.8 26.0 28.6 32.3 Tangible BVPS ($) 22.1 23.1 22.5 25.7 28.2 31.9 Source: SEC Filings, Author's Estimates (In USD million unless otherwise specified) Higher than Average Provisioning Likely for the Second Half Bankwell Financial surprised me in the second quarter by reporting a large reversal of the previous provisioning. Nonperforming loans were 0.74% of total loans, while allowances were 0.77% of total loans at the end of the last quarter. Bankwell Financial Group is not yet subject to the Current Expected Credit Losses accounting standard, CECL, and still provisions based on incurred losses. Therefore, such a tight allowance coverage is not too problematic. Nevertheless, I'm expecting provisioning to be higher than the historical average in future quarters. Apart from the thin coverage, I'm expecting a worsening credit quality to keep provisioning elevated. The high-inflation environment will likely be one of the biggest contributors to financial stress for borrowers. Further, according to management's estimates, if the company had used the CECL method of accounting, then earnings would have been lower by $0.09 per share in the second quarter of 2022, as mentioned in the earnings release. This means that the company is currently facing greater risk than what's incorporated in the existing allowances. Overall, I'm expecting the net provision expense to be 0.23% of total loans (annualized) in the second half of 2022 and 0.16% of total loans in 2023. In comparison, the net provision expense averaged 0.16% in the last five years. In my last report on Bankwell Financial, I estimated a net provision expense of $2 million for 2022. Due to the second quarter's surprise, I've now reduced my full-year estimate to $1 million. Earnings to Surge by 37% Robust loan growth will likely be the biggest driver of earnings growth this year. Further, the elevated prepayment fees booked in the second quarter will keep earnings elevated for this year. On the other hand, future margin compression and elevated provisioning will likely limit earnings growth. Overall, I'm expecting Bankwell Financial Group to report earnings of $4.60 per share for 2022, up 37% year-over-year. For 2023, I'm expecting earnings to be somewhat flattish at around $4.57 per share. The following table shows my income statement estimates. FY18 FY19 FY20 FY21 FY22E FY23E Income Statement Net interest income 56 54 55 68 88 97 Provision for loan losses 3 0 8 (0) 1 4 Non-interest income 4 5 3 6 4 5 Non-interest expense 36 36 43 40 45 52 Net income - Common Sh. 17 18 6 26 35 35 EPS - Diluted ($) 2.21 2.31 0.75 3.36 4.60 4.57 Source: SEC Filings, Earnings Releases, Author's Estimates (In USD million unless otherwise specified) In my last report on Bankwell Financial, I estimated earnings of $4.07 per share for 2022. I've increased my earnings estimate because the margin increased by more than I expected in the second quarter of 2022. Further, I've reduced my provisioning estimate following the second quarter's surprise.

Shareholder Returns

BWFGUS BanksUS Market
7D-3.3%-4.5%-2.0%
1Y2.4%-23.8%-20.3%

Return vs Industry: BWFG exceeded the US Banks industry which returned -24.8% over the past year.

Return vs Market: BWFG exceeded the US Market which returned -22.1% over the past year.

Price Volatility

Is BWFG's price volatile compared to industry and market?
BWFG volatility
BWFG Average Weekly Movement2.9%
Banks Industry Average Movement3.4%
Market Average Movement6.9%
10% most volatile stocks in US Market15.8%
10% least volatile stocks in US Market2.8%

Stable Share Price: BWFG is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: BWFG's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2002132Chris Grusekehttps://www.mybankwell.com

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, 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 secured by savings or certificate accounts and automobiles; and unsecured personal loans and overdraft lines of credit.

Bankwell Financial Group Fundamentals Summary

How do Bankwell Financial Group's earnings and revenue compare to its market cap?
BWFG fundamental statistics
Market CapUS$225.89m
Earnings (TTM)US$34.19m
Revenue (TTM)US$84.41m

6.6x

P/E Ratio

1.0x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BWFG income statement (TTM)
RevenueUS$84.41m
Cost of RevenueUS$0
Gross ProfitUS$84.41m
Other ExpensesUS$50.23m
EarningsUS$34.19m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)4.52
Gross Margin100.00%
Net Profit Margin40.50%
Debt/Equity Ratio63.0%

How did BWFG perform over the long term?

See historical performance and comparison

Dividends

2.7%

Current Dividend Yield

17%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is BWFG undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BWFG?

Other financial metrics that can be useful for relative valuation.

BWFG key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio-0.5x

Price to Earnings Ratio vs Peers

How does BWFG's PE Ratio compare to its peers?

BWFG PE Ratio vs Peers
The above table shows the PE ratio for BWFG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average8.7x
OBT Orange County Bancorp
12x26.1%US$222.8m
NRIM Northrim BanCorp
8.1x19.7%US$236.3m
EVBN Evans Bancorp
8.7x1.2%US$202.3m
PKBK Parke Bancorp
6.2xn/aUS$254.6m
BWFG Bankwell Financial Group
6.6x-13.0%US$225.9m

Price-To-Earnings vs Peers: BWFG is good value based on its Price-To-Earnings Ratio (6.6x) compared to the peer average (8.7x).


Price to Earnings Ratio vs Industry

How does BWFG's PE Ratio compare vs other companies in the US Banks Industry?

Price-To-Earnings vs Industry: BWFG is good value based on its Price-To-Earnings Ratio (6.6x) compared to the US Banks industry average (9.5x)


Price to Earnings Ratio vs Fair Ratio

What is BWFG's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BWFG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.6x
Fair PE Ratio8.4x

Price-To-Earnings vs Fair Ratio: BWFG is good value based on its Price-To-Earnings Ratio (6.6x) compared to the estimated Fair Price-To-Earnings Ratio (8.4x).


Share Price vs Fair Value

What is the Fair Price of BWFG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BWFG ($29.85) is trading below our estimate of fair value ($49.75)

Significantly Below Fair Value: BWFG is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is Bankwell Financial Group forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-13.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BWFG's earnings are forecast to decline over the next 3 years (-13% per year).

Earnings vs Market: BWFG's earnings are forecast to decline over the next 3 years (-13% per year).

High Growth Earnings: BWFG's earnings are forecast to decline over the next 3 years.

Revenue vs Market: BWFG's revenue (2% per year) is forecast to grow slower than the US market (7.6% per year).

High Growth Revenue: BWFG's revenue (2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if BWFG's Return on Equity is forecast to be high in 3 years time


Discover growth companies

Past Performance

How has Bankwell Financial Group performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


10.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: BWFG has high quality earnings.

Growing Profit Margin: BWFG's current net profit margins (40.5%) are higher than last year (24%).


Past Earnings Growth Analysis

Earnings Trend: BWFG's earnings have grown by 10.3% per year over the past 5 years.

Accelerating Growth: BWFG's earnings growth over the past year (128.6%) exceeds its 5-year average (10.3% per year).

Earnings vs Industry: BWFG earnings growth over the past year (128.6%) exceeded the Banks industry 8.7%.


Return on Equity

High ROE: BWFG's Return on Equity (15.5%) is considered low.


Discover strong past performing companies

Financial Health

How is Bankwell Financial Group's financial position? (This company is analysed differently as a bank or financial institution)

Financial Health Score

6/6

Financial Health Score 6/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: BWFG's Assets to Equity ratio (10.8x) is moderate.

Allowance for Bad Loans: BWFG has a sufficient allowance for bad loans (103%).

Low Risk Liabilities: 92% of BWFG's liabilities are made up of primarily low risk sources of funding.

Loan Level: BWFG has an appropriate level of Loans to Assets ratio (84%).

Low Risk Deposits: BWFG's Loans to Deposits ratio (100%) is appropriate.

Level of Bad Loans: BWFG has an appropriate level of bad loans (0.7%).


Discover healthy companies

Dividend

What is Bankwell Financial Group current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


2.68%

Current Dividend Yield

Dividend Yield vs Market

Bankwell Financial Group Dividend Yield vs Market
How does Bankwell Financial Group dividend yield compare to the market?
SegmentDividend Yield
Company (Bankwell Financial Group)2.7%
Market Bottom 25% (US)1.6%
Market Top 25% (US)4.6%
Industry Average (Banks)3.4%
Analyst forecast in 3 Years (Bankwell Financial Group)2.7%

Notable Dividend: BWFG's dividend (2.68%) is higher than the bottom 25% of dividend payers in the US market (1.67%).

High Dividend: BWFG's dividend (2.68%) is low compared to the top 25% of dividend payers in the US market (4.69%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, BWFG has been paying a dividend for less than 10 years.

Growing Dividend: BWFG's dividend payments have increased, but the company has only paid a dividend for 7 years.


Current Payout to Shareholders

Earnings Coverage: With its low payout ratio (17%), BWFG's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years or that it will be covered by earnings.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

5.8yrs

Average management tenure


CEO

Chris Gruseke (62 yo)

7.58yrs

Tenure

US$1,262,362

Compensation

Mr. Christopher R. Gruseke, also known as Chris, has been Chief Executive Officer of Bankwell Financial Group, Inc. and Bankwell Bank since February 27, 2015. Mr. Gruseke has been President of Bankwell Fin...


CEO Compensation Analysis

Chris Gruseke's Compensation vs Bankwell Financial Group Earnings
How has Chris Gruseke's remuneration changed compared to Bankwell Financial Group's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

US$34m

Mar 31 2022n/an/a

US$29m

Dec 31 2021US$1mUS$600k

US$26m

Sep 30 2021n/an/a

US$19m

Jun 30 2021n/an/a

US$15m

Mar 31 2021n/an/a

US$10m

Dec 31 2020US$2mUS$600k

US$6m

Sep 30 2020n/an/a

US$9m

Jun 30 2020n/an/a

US$10m

Mar 31 2020n/an/a

US$14m

Dec 31 2019US$998kUS$550k

US$18m

Sep 30 2019n/an/a

US$18m

Jun 30 2019n/an/a

US$19m

Mar 31 2019n/an/a

US$18m

Dec 31 2018US$1mUS$550k

US$17m

Sep 30 2018n/an/a

US$16m

Jun 30 2018n/an/a

US$15m

Mar 31 2018n/an/a

US$15m

Dec 31 2017US$798kUS$550k

US$14m

Sep 30 2017n/an/a

US$15m

Jun 30 2017n/an/a

US$14m

Mar 31 2017n/an/a

US$13m

Dec 31 2016US$785kUS$507k

US$12m

Sep 30 2016n/an/a

US$11m

Jun 30 2016n/an/a

US$10m

Mar 31 2016n/an/a

US$10m

Dec 31 2015US$1mUS$422k

US$9m

Compensation vs Market: Chris's total compensation ($USD1.26M) is about average for companies of similar size in the US market ($USD1.69M).

Compensation vs Earnings: Chris's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: BWFG's management team is seasoned and experienced (5.8 years average tenure).


Board Members

Experienced Board: BWFG's board of directors are considered experienced (8.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: BWFG insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

NasdaqGM:BWFG Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
23 Sep 22SellUS$60,060Todd LampertIndividual2,000US$31.25
21 Sep 22BuyUS$752Blake DrexlerIndividual24US$31.34
21 Sep 22BuyUS$6,460Eric DaleIndividual206US$31.36
21 Sep 22BuyUS$4,086James GarnettIndividual131US$31.19
21 Sep 22BuyUS$4,959Lawrence SeidmanIndividual159US$31.19
21 Sep 22BuyUS$4,201Carl PortoIndividual134US$31.35
29 Aug 22BuyUS$75,553Darryl DemosIndividual2,350US$32.15
25 Aug 22BuyUS$5,128Eric DaleIndividual157US$32.66
25 Aug 22BuyUS$2,678Carl PortoIndividual82US$32.66
25 Aug 22BuyUS$718James GarnettIndividual22US$32.65
25 Aug 22BuyUS$4,572Blake DrexlerIndividual140US$32.66
23 Aug 22BuyUS$6,832Eric DaleIndividual209US$32.69
23 Aug 22BuyUS$4,044James GarnettIndividual124US$32.61
23 Aug 22BuyUS$4,577Carl PortoIndividual140US$32.69
23 Aug 22BuyUS$4,989Lawrence SeidmanIndividual153US$32.61
01 Aug 22SellUS$49,035Laura WaitzIndividual1,500US$32.69
19 Jul 22BuyUS$6,871Eric DaleIndividual213US$32.26
19 Jul 22BuyUS$5,000Lawrence SeidmanIndividual155US$32.26
19 Jul 22BuyUS$4,065James GarnettIndividual126US$32.26
19 Jul 22BuyUS$4,613Carl PortoIndividual143US$32.26
29 Jun 22BuyUS$4,074James GarnettIndividual132US$30.86
29 Jun 22BuyUS$6,456Eric DaleIndividual208US$31.04
29 Jun 22BuyUS$4,968Lawrence SeidmanIndividual161US$30.86
29 Jun 22BuyUS$4,282Carl PortoIndividual138US$31.03
24 Jun 22BuyUS$6,075Richard CastiglioniIndividual200US$30.40
24 Jun 22BuyUS$305,000James GarnettIndividual10,000US$30.50
24 Jun 22BuyUS$6,150Penko IvanovIndividual200US$30.75
26 May 22BuyUS$50,098Darryl DemosIndividual1,450US$34.55
24 May 22BuyUS$776James GarnettIndividual23US$33.84
24 May 22BuyUS$12,163Eric DaleIndividual360US$33.84
24 May 22BuyUS$4,891Blake DrexlerIndividual145US$33.84
24 May 22BuyUS$9,017Daniel JonesIndividual267US$33.84
24 May 22BuyUS$7,231Carl PortoIndividual214US$33.84
24 May 22BuyUS$5,002Lawrence SeidmanIndividual149US$33.57
24 May 22BuyUS$4,096James GarnettIndividual122US$33.57
28 Apr 22BuyUS$3,572Daniel JonesIndividual106US$33.70
28 Apr 22BuyUS$6,807Eric DaleIndividual202US$33.70
28 Apr 22BuyUS$4,583Carl PortoIndividual136US$33.70
28 Apr 22BuyUS$4,980Lawrence SeidmanIndividual148US$33.65
28 Apr 22BuyUS$4,072James GarnettIndividual121US$33.65
17 Mar 22BuyUS$3,691Carl PortoIndividual108US$34.18
17 Mar 22BuyUS$4,039James GarnettIndividual118US$34.23
17 Mar 22BuyUS$2,256Daniel JonesIndividual66US$34.18
17 Mar 22BuyUS$5,195Eric DaleIndividual152US$34.18
17 Mar 22BuyUS$4,963Lawrence SeidmanIndividual145US$34.23
25 Feb 22BuyUS$12,401Eric DaleIndividual359US$34.85
25 Feb 22BuyUS$7,228Carl PortoIndividual209US$34.85
25 Feb 22BuyUS$9,649Daniel JonesIndividual280US$34.85
25 Feb 22BuyUS$4,995Lawrence SeidmanIndividual143US$34.93
25 Feb 22BuyUS$4,087James GarnettIndividual117US$34.93
24 Feb 22BuyUS$923James GarnettIndividual27US$34.20
24 Feb 22BuyUS$5,985Blake DrexlerIndividual175US$34.20
16 Feb 22BuyUS$3,510Daniel JonesIndividual101US$34.75
16 Feb 22BuyUS$4,170Carl PortoIndividual120US$34.75
16 Feb 22BuyUS$869Blake DrexlerIndividual25US$34.75
16 Feb 22BuyUS$6,220Eric DaleIndividual179US$34.75
16 Feb 22BuyUS$4,066James GarnettIndividual117US$34.75
16 Feb 22BuyUS$5,004Lawrence SeidmanIndividual144US$34.75
31 Jan 22BuyUS$9,860Penko IvanovIndividual290US$34.00
03 Jan 22BuyUS$8,084Lawrence SeidmanIndividual247US$32.73
03 Jan 22BuyUS$3,993James GarnettIndividual122US$32.73
31 Dec 21BuyUS$11,819Blake DrexlerIndividual361US$32.74
31 Dec 21BuyUS$6,646Daniel JonesIndividual203US$32.74
31 Dec 21BuyUS$7,890Eric DaleIndividual241US$32.74
31 Dec 21BuyUS$5,533Carl PortoIndividual169US$32.74
31 Dec 21BuyUS$131James GarnettIndividual4US$32.70
21 Dec 21SellUS$40,306Laura WaitzIndividual1,282US$31.44
09 Dec 21BuyUS$8,252Blake DrexlerIndividual244US$33.82
09 Dec 21BuyUS$4,293Lawrence SeidmanIndividual131US$32.77
09 Dec 21BuyUS$3,113James GarnettIndividual95US$32.77
09 Dec 21BuyUS$4,870Eric DaleIndividual144US$33.82
09 Dec 21BuyUS$3,923Daniel JonesIndividual116US$33.82
09 Dec 21BuyUS$2,942Carl PortoIndividual87US$33.82
06 Dec 21BuyUS$818James GarnettIndividual26US$31.48
06 Dec 21BuyUS$4,188Eric DaleIndividual133US$31.49
06 Dec 21BuyUS$2,078Carl PortoIndividual66US$31.49
06 Dec 21BuyUS$5,385Blake DrexlerIndividual171US$31.49
06 Dec 21BuyUS$4,188Daniel JonesIndividual133US$31.49
29 Nov 21BuyUS$222,766Veteri Place CorporationCompany7,186US$31.00
19 Nov 21BuyUS$83,971Veteri Place CorporationCompany2,709US$31.00
09 Nov 21BuyUS$344,498Matthew McNeillIndividual11,070US$31.12
03 Nov 21BuyUS$4,593Penko IvanovIndividual150US$30.62
02 Nov 21BuyUS$8,379Eric DaleIndividual277US$30.25
02 Nov 21BuyUS$3,842Daniel JonesIndividual127US$30.25
02 Nov 21BuyUS$5,748Carl PortoIndividual190US$30.25
02 Nov 21BuyUS$11,979Blake DrexlerIndividual396US$30.25
02 Nov 21BuyUS$5,326Lawrence SeidmanIndividual176US$30.26
02 Nov 21BuyUS$5,598James GarnettIndividual185US$30.26
01 Oct 21BuyUS$10,797Blake DrexlerIndividual366US$29.50
01 Oct 21BuyUS$6,844Eric DaleIndividual232US$29.50
01 Oct 21BuyUS$4,630Daniel JonesIndividual157US$29.49
01 Oct 21BuyUS$4,276Carl PortoIndividual145US$29.49
30 Sep 21BuyUS$3,981James GarnettIndividual135US$29.49
30 Sep 21BuyUS$5,279Lawrence SeidmanIndividual179US$29.49

Ownership Breakdown

What is the ownership structure of BWFG?
Owner TypeNumber of SharesOwnership Percentage
Hedge Funds710,6689.4%
Individual Insiders1,221,47816.1%
General Public2,804,46837.1%
Institutions2,831,03137.4%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 52.99% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
9.39%
Veteri Place Corporation
710,668$21.2m0%59.75%
3.78%
The Vanguard Group, Inc.
286,145$8.5m-1.92%no data
3.65%
BlackRock, Inc.
276,475$8.3m980.95%no data
3.62%
Banc Funds Company, L.L.C.
273,623$8.2m-2.49%0.74%
3.42%
George Bauer
258,911$7.7m0%no data
3.21%
Daniel Jones
243,268$7.3m0%no data
3.08%
Dimensional Fund Advisors LP
232,718$6.9m9.98%no data
2.84%
Blake Drexler
214,847$6.4m0%no data
2.82%
Renaissance Technologies LLC
213,200$6.4m4.89%0.01%
2.38%
Christopher Gruseke
179,950$5.4m0%no data
2.03%
The Bauer Foundation, Endowment Arm
153,895$4.6m0%100%
1.62%
Millennium Management LLC
122,794$3.7m14.98%no data
1.46%
Siena Capital Partners GP, LLC
110,338$3.3m0%1.09%
1.36%
Geode Capital Management, LLC
103,252$3.1m52.53%no data
1.01%
Acadian Asset Management LLC
76,055$2.3m113.21%0.01%
0.9%
Northern Trust Global Investments
68,236$2.0m123.19%no data
0.83%
State Street Global Advisors, Inc.
62,950$1.9m185.2%no data
0.83%
Two Sigma Investments, LP
62,880$1.9m58.91%0.01%
0.8%
Eaton Vance Management
60,556$1.8m-9.95%no data
0.8%
Summit Trail Advisors, LLC
60,416$1.8m-14.1%0.12%
0.79%
Two Sigma Advisers, LP
60,100$1.8m71.71%0.01%
0.72%
Bridgeway Capital Management, LLC
54,600$1.6m0%0.04%
0.59%
LSV Asset Management
44,663$1.3m-4.49%no data
0.53%
Matthew McNeill
40,181$1.2m0%no data
0.52%
BNY Mellon Asset Management
39,291$1.2m58.71%no data

Company Information

Bankwell Financial Group, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Bankwell Financial Group, Inc.
  • Ticker: BWFG
  • Exchange: NasdaqGM
  • Founded: 2002
  • Industry: Regional Banks
  • Sector: Banks
  • Implied Market Cap: US$225.894m
  • Shares outstanding: 7.57m
  • Website: https://www.mybankwell.com

Number of Employees


Location

  • Bankwell Financial Group, Inc.
  • 258 Elm Street
  • New Canaan
  • Connecticut
  • 6840
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BWFGNasdaqGM (Nasdaq Global Market)YesCommon StockUSUSDJul 2004
33WDB (Deutsche Boerse AG)YesCommon StockDEEURJul 2004

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/28 00:00
End of Day Share Price2022/09/28 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.