Bankwell Financial Group Earnings Calls

Q4 2024 Missed
$0.320 (-50.77%)
Release date Jan 22, 2025
EPS estimate $0.650
EPS actual $0.320
EPS Surprise -50.77%
Revenue estimate 22.331M
Revenue actual 47.843M
Revenue Surprise 114.24%
Q3 2024 Beat
$0.240 (400.00%)
Release date Oct 28, 2024
EPS estimate -$0.0800
EPS actual $0.240
EPS Surprise 400.00%
Revenue estimate 22.16M
Revenue actual 21.873M
Revenue Surprise -1.30%
Q2 2024 Beat
$0.140 (40.00%)
Release date Jul 24, 2024
EPS estimate $0.100
EPS actual $0.140
EPS Surprise 40.00%
Revenue estimate 21.34M
Revenue actual 48.552M
Revenue Surprise 127.52%
Q1 2024 Missed
$0.480 (-33.33%)
Release date Apr 24, 2024
EPS estimate $0.720
EPS actual $0.480
EPS Surprise -33.33%
Revenue estimate 20.76M
Revenue actual 49.235M
Revenue Surprise 137.16%

Last 4 Quarters for Bankwell Financial Group

Below you can see how BWFG performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.

Q1 2024 Missed
Release date Apr 24, 2024
Fiscal end date Mar 31, 2024
Price on release $24.99
EPS estimate $0.720
EPS actual $0.480
EPS surprise -33.33%
Date Price
Apr 18, 2024 $23.63
Apr 19, 2024 $24.62
Apr 22, 2024 $25.33
Apr 23, 2024 $25.07
Apr 24, 2024 $24.99
Apr 25, 2024 $23.82
Apr 26, 2024 $23.84
Apr 29, 2024 $23.50
Apr 30, 2024 $22.93
4 days before 5.76%
4 days after -8.24%
On release day -4.68%
Change in period -2.96%
Q2 2024 Beat
Release date Jul 24, 2024
Fiscal end date Jun 30, 2024
Price on release $26.46
EPS estimate $0.100
EPS actual $0.140
EPS surprise 40.00%
Date Price
Jul 18, 2024 $25.47
Jul 19, 2024 $24.66
Jul 22, 2024 $25.00
Jul 23, 2024 $26.20
Jul 24, 2024 $26.46
Jul 25, 2024 $26.37
Jul 26, 2024 $27.16
Jul 29, 2024 $26.67
Jul 30, 2024 $28.19
4 days before 3.89%
4 days after 6.54%
On release day -0.340%
Change in period 10.68%
Q3 2024 Beat
Release date Oct 28, 2024
Fiscal end date Sep 30, 2024
Price on release $29.03
EPS estimate -$0.0800
EPS actual $0.240
EPS surprise 400.00%
Date Price
Oct 22, 2024 $28.42
Oct 23, 2024 $28.59
Oct 24, 2024 $28.71
Oct 25, 2024 $28.05
Oct 28, 2024 $29.03
Oct 29, 2024 $28.84
Oct 30, 2024 $28.66
Oct 31, 2024 $28.51
Nov 01, 2024 $28.60
4 days before 2.15%
4 days after -1.48%
On release day -0.654%
Change in period 0.633%
Q4 2024 Missed
Release date Jan 22, 2025
Fiscal end date Dec 31, 2024
Price on release $29.74
EPS estimate $0.650
EPS actual $0.320
EPS surprise -50.77%
Date Price
Jan 15, 2025 $30.40
Jan 16, 2025 $29.52
Jan 17, 2025 $30.05
Jan 21, 2025 $29.83
Jan 22, 2025 $29.74
Jan 23, 2025 $30.75
Jan 24, 2025 $30.06
Jan 27, 2025 $30.43
Jan 28, 2025 $30.63
4 days before -2.17%
4 days after 2.99%
On release day 3.40%
Change in period 0.757%

Bankwell Financial Group Earnings Call Transcript Summary of Q4 2024

Financial Performance:

  • Earnings: The bank reported GAAP fully diluted earnings per share of $0.32.
  • Net Charge-offs: There were $3 million in net charge-offs primarily related to two nonperforming loans.
    • A $1.7 million nonperforming C&I loan and $1.2 million on a construction loan that went into non-accrual status during COVID.
    • Subsequent to Q4 2024, a purchase and sale agreement has been signed for the construction loan’s OREO asset for the full $8.3 million book value, expected to reduce nonperforming asset ratio by 25 basis points.
    • They are also addressing their largest nonperforming loan of $27.1 million with a signed agreement that should further reduce the ratio by 83 basis points.

Balance Sheet Highlights:

  • Core Deposits Growth: Core deposits grew by $169 million in Q4, with notable growth in Bankwell Direct, which increased by $39 million. Broker deposits declined by $78 million.
  • Interest Margin: Reported net interest margin (NIM) decreased to 260 basis points, down 12 basis points from the previous quarter, largely due to lower loan fees and higher cash balances.
  • The total assets increased slightly to $3.3 billion.

Future Guidance:

  • Loan Growth: Anticipated modest loan growth of 3% to 5% in 2025.
  • Net Interest Income: Expected to grow to $93 million to $95 million for 2025.
  • Noninterest Income: Forecasted to double from 2024, potentially reaching $7 million to $8 million, mainly due to the new SBA lending division, which started originating loans in December 2024.
  • Noninterest Expense: Projected to be around $56 million to $57 million, reflecting ongoing investments.

Credit Quality:

  • No new credit deterioration was observed in Q4 2024, with expectations for continued stability in the loan portfolio for the coming year.
  • The bank has successfully reduced its concentration in commercial real estate (CRE), improving from 425% of total risk-based capital in 2022 to 375% at year-end 2024.

Operational Efficiency:

  • Maintained a stable noninterest expense to total asset ratio at approximately 170 basis points.
  • The bank plans to keep investing in technology and risk management to enhance future performance.

Tax Rate:

  • A tax rate of approximately 24.5% is anticipated going forward.

Investment Considerations:

  • Expect improved financial performance in 2025 due to clean-up of nonperforming loans and diversified deposit bases.
  • Potential for increased earnings per share from cost savings related to deposit repricing and loan growth.

This earnings call indicates a cautious yet optimistic outlook focusing on credit quality, cost management, and strategic growth initiatives. Investors should take note of the bank's plans to manage nonperforming assets and diversify its funding sources for potential future growth.

Bankwell Financial Group Earnings History

Earnings Calendar

FAQ

When is the earnings report for BWFG?
Bankwell Financial Group (BWFG) has scheduled its earnings report for Apr 22, 2025 after the markets close.

What is the BWFG price-to-earnings (P/E) ratio?
BWFG P/E ratio as of Feb 13, 2025 (TTM) is 25.67.

What is the BWFG EPS forecast?
The forecasted EPS (Earnings Per Share) for Bankwell Financial Group (BWFG) for the first fiscal quarter 2025 is $0.730.

What are Bankwell Financial Group's retained earnings?
On its balance sheet, Bankwell Financial Group reported retained earnings of $47.84 million for the latest quarter ending Dec 31, 2024.

What Is an Earnings Report?
An earnings report is usually issued quarterly (Q1, Q2, Q3 & Q4) by public companies to report their performance. Earnings reports typically include net income, earnings per share, earnings from continuing operations, and net sales. Looking at the earnings report investors can start gauge the financial health of the company and make even better decisions whether to buy, sell, or stay in the company. Fundamental analysts and value investors will typically hunt for stocks that continue to show good financial ratios and use a decline as an exit point. One of the most anticipated numbers for analysis is earnings per share because it indicates how much the company earned for its shareholders. The report will also indicate a possible dividend.

Earnings Report Content
Earnings reports generally provide an update of all three financial statements, including the income statement, the balance sheet, and the cash flow statement. These figures are typically measured against previous quarters/years. Furthermore, the earnings report usually includes a summary and analysis from the CEO or company spokesman, alongside a more general view of the financials and future forecast.

What To Know About Earnings Reports?
Announcement of earnings for a stock, particularly for well followed large-capitalization stocks, can move the market. Stock prices can fluctuate wildly on days when the quarterly earnings report is released. Despite good reports, stocks may very well fall if the investors were expecting more or they believe the next quarter will not be as good. Investors always try to be ahead of the market and future earnings/losses are often discounted into the current price of the stock. It is natural for stocks to start to move in either direction a few days before the release of an earnings report.
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