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NEW CANAAN, CT—Christopher R. Gruseke, CEO of Bankwell Financial Group, Inc. (NASDAQ:BWFG), recently sold a portion of his holdings in the company. According to a recent SEC filing, Gruseke sold 1,908 shares of common stock on February 7, 2025, at prices ranging from $31.53 to $32.87 per share, totaling approximately $61,284. The transaction comes as Bankwell, with a market capitalization of $240.8 million, has delivered a strong 25.5% return over the past year.
The sale was part of a company-sponsored cashless stock exercise program intended to cover tax liabilities associated with the vesting of 5,772 shares. Following the transaction, Gruseke retains direct ownership of 167,566 shares, with an additional 12,500 shares held indirectly in an IRA. The bank maintains a steady 2.53% dividend yield and has consistently paid dividends for 11 consecutive years, according to InvestingPro data.
This transaction is part of Gruseke’s ongoing management of his equity stake in Bankwell Financial Group, a state commercial bank headquartered in New Canaan, Connecticut. Based on InvestingPro’s Fair Value analysis, the stock currently appears to be fairly valued. Subscribers can access 6 additional ProTips and comprehensive financial metrics for deeper analysis.
In other recent news, Bankwell Financial Group reported increased fourth-quarter earnings and declared a cash dividend for shareholders. The financial institution disclosed a GAAP net income of $2.5 million, or $0.32 per share, in the last quarter of 2024, up from $1.9 million, or $0.24 per share, in the prior quarter. A $0.20 per share cash dividend was also declared by the board of directors. However, pre-tax, pre-provision net revenue declined 12% to $7.9 million.
In addition, Bankwell Financial Group has made significant strides in reducing nonperforming assets and commercial real estate exposure. The company launched a new SBA (LON:SBA) lending division in the first quarter of 2025, expecting growth in noninterest income from future gains on the sale of guaranteed portions of new SBA loans. For the full year 2025, the company is guiding to $93-$95 million in net interest income, $7-$8 million in noninterest income, and $56-$57 million in noninterest expense.
In a separate development, Bankwell Financial Group amended a previous agreement with investor Lawrence B. Seidman, allowing him and his affiliates to acquire up to 14.99% of Bankwell’s fully diluted outstanding common stock. This amendment could potentially lead to increased investment by Seidman and his affiliates. These are among the recent developments surrounding Bankwell Financial Group.
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