|Over a week ago|
Bankwell Financial upgraded to Outperform from Market Perform at Keefe Bruyette » 18:3205/0405/04/21
Keefe Bruyette analyst…
Keefe Bruyette analyst Christopher O'Connell upgraded Bankwell Financial to Outperform from Market Perform with a price target of $35, up from $32. The analyst is citing the company's "strong" Q1 results and improved income outlook, with expectations for continued above-peer loan grown, net interest margin expansion extending to 2022, and a successful execution of its ongoing efficiency plan.
Bankwell Financial upgraded to Outperform from Neutral at Boenning & Scattergood » 07:5505/0405/04/21
Boenning & Scattergood analyst Erik Zwick upgraded Bankwell Financial to Outperform from Neutral with a $33 price target. Bankwell is making material progress on improving profitability and TCE and with shares currently trading at a discount relative to peers he doesn't believe the progress is fully reflected in the stock yet, Zwick tells investors.
|Over a quarter ago|
Bankwell Financial to include $3.9M in one-time charges in Q4 results » 16:0712/3012/30/20
The company announced…
The company announced that it will include one-time pre-tax charges of approximately $3.9M in its Q4 results. Approximately $2.3M of these charges are estimated to result in future cash expenditures. The charges are related to the company's previously announced expense reduction initiative and were approved by the company's board on December 24. The $3.9M pre-tax charge consists of three major components: office and branch consolidation expenses, employee severance costs, and a fee related to the early termination of a legacy technology contract. The company expects annual cost savings of approximately $2.3M from the aforementioned office and branch consolidations and the reduction in workforce initiative.
Bankwell Financial resumes share repurchase program » 16:0612/3012/30/20
Bankwell Financial Group…
Bankwell Financial Group announced that it will resume its previously authorized share repurchase program. Under the existing program, the company may repurchase an additional 307,333 shares, or approximately 4% of the company's outstanding shares.
Bankwell Financial downgraded to Neutral from Outperform at Boenning & Scattergood » 07:3512/1612/16/20
Boenning & Scattergood analyst Erik Zwick downgraded Bankwell Financial to Neutral from Outperform and removed his prior $18 price target on the shares. While noting Bankwell has made "great progress in recent periods" with its deposit mix and funding costs, he is stepping to the sidelines given uncertainty in the economy, Zwick said.