Bankwell Financial Group director Dale Eric J purchases $26,617 in stock

Published 13/03/2025, 18:18
Bankwell Financial Group director Dale Eric J purchases $26,617 in stock

In a recent transaction, Dale Eric J, a director at Bankwell Financial Group, Inc. (NASDAQ:BWFG), a $225 million market cap financial institution, acquired a total of 875 shares of the company’s common stock, amounting to approximately $26,617. The shares were purchased at a price ranging from $29.04 to $30.66 per share, with an average price of $30.42. InvestingPro data shows the company has maintained dividend payments for 11 consecutive years, currently offering a 2.73% yield.

Following this transaction, Dale’s total ownership in Bankwell Financial Group stands at 38,682 shares, held indirectly through a deferred compensation plan. This acquisition is part of a broader strategy, as indicated by the director’s participation in the company’s stock plan, which includes various grants and vesting schedules. According to InvestingPro analysis, the company’s net income is expected to grow this year, with analysts setting a price target of $40.

Investors may find these insider transactions noteworthy as they often provide insights into the confidence levels of company executives regarding the firm’s future performance. With a P/E ratio of 23.61 and additional financial metrics available on InvestingPro, subscribers can access over 10 more exclusive insights about Bankwell Financial’s valuation and growth prospects.

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, from the previous quarter. The company also announced a $0.20 per share cash dividend, payable on February 21, 2025. However, the company’s pre-tax, pre-provision net revenue saw a decline of 12% to $7.9 million from $9.0 million in the third quarter. Despite this, Bankwell Financial is expecting a positive impact on its net interest income due to the repricing of $1.3 billion in time deposits over the next year. Additionally, the company has launched a new SBA (LON:SBA) lending division, anticipating growth in noninterest income from future sales. The company’s asset quality has improved, with a decrease in nonperforming loans and an increase in total assets to $3.3 billion as of December 31, 2024. 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 reflects a change in the company’s approach to shareholder ownership limits and could lead to increased investment by Seidman.

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