China AI: Bernstein sees chipmakers benefiting from Nvidia scrutiny
In a recent filing with the Securities and Exchange Commission, Carl M. Porto, a director at Bankwell Financial Group, Inc. (NASDAQ:BWFG), a $225 million market cap regional bank, reported the purchase of 130 shares of the company’s common stock. According to InvestingPro data, the stock currently trades at $29.28, with a price-to-book ratio of 0.83. The transaction, which took place on March 12, amounted to a total value of approximately $3,775, with shares acquired at a price of $29.04 each.
Following this acquisition, Porto’s indirect ownership through a Deferred Compensation Plan stands at 19,690 shares. Additionally, Porto holds various direct ownership stakes, including 1,800 shares of restricted stock from a 2025 grant and other holdings totaling 20,465 shares.
The transactions are part of Porto’s ongoing investment in Bankwell Financial, a state commercial bank headquartered in New Canaan, Connecticut. Analysts maintain a $40 price target for the stock, while InvestingPro analysis suggests net income growth expectations for the current year. For more detailed financial insights and analysis, subscribers can access additional ProTips on the platform.
In other recent news, Bankwell Financial Group reported an increase in its fourth-quarter earnings, with a GAAP net income of $2.5 million, or $0.32 per share, compared to $1.9 million, or $0.24 per share, in the previous quarter. The company also declared a $0.20 per share cash dividend payable on February 21, 2025. Despite the positive earnings report, the pre-tax, pre-provision net revenue declined by 12% to $7.9 million from the third quarter. Bankwell Financial’s net interest margin decreased to 2.60%, with expectations of an annualized increase in net interest income of approximately $4.4 million due to repricing of time deposits. The company launched a new SBA (LON:SBA) lending division, anticipating growth in noninterest income from future SBA loan sales.
In a separate development, Bankwell Financial amended its agreement with investor Lawrence B. Seidman, allowing him and his affiliates to acquire up to 14.99% of the company’s fully diluted outstanding common stock. This amendment removes previous restrictions tied to the tangible book value per share and stock price conditions. The change reflects an adjustment in the company’s approach to shareholder ownership limits, potentially leading to increased investment by Seidman and his affiliates. Bankwell has not provided additional comments on the implications of this amended agreement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.