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Blake S. Drexler, a director at Bankwell Financial Group, Inc. (NASDAQ:BWFG), recently purchased 735 shares of common stock. The acquisition, which took place on March 6, 2025, was executed at a price of $30.66 per share, totaling approximately $22,535. According to InvestingPro data, this purchase comes as the stock trades at 0.84 times book value, with the company currently showing signs of being overvalued based on Fair Value analysis. Following this transaction, Drexler’s total direct and indirect holdings in the company have been updated to reflect the new acquisition.
This purchase adds to Drexler’s existing investment in Bankwell Financial Group, demonstrating continued confidence in the company’s prospects. The company has maintained dividend payments for 11 consecutive years, currently offering a 2.66% yield. As of the latest filing, Drexler holds a significant number of shares across various accounts, including direct ownership and holdings in a deferred compensation plan.
Bankwell Financial Group, headquartered in New Canaan, Connecticut, operates as a state commercial bank with a market capitalization of $228.5 million. InvestingPro analysis indicates net income is expected to grow this year, with several additional insights available to subscribers. The company’s stock is traded on the NASDAQ under the ticker symbol BWFG.
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 has declared a cash dividend of $0.20 per share, payable on February 21, 2025. Despite the positive earnings, pre-tax, pre-provision net revenue declined by 12% to $7.9 million. Bankwell Financial also announced the execution of agreements to sell two nonperforming assets totaling $35.4 million, aiming to reduce nonperforming assets as a percentage of total assets. In another 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 company has also launched a new SBA (LON:SBA) lending division, anticipating growth in noninterest income from future gains on the sale of new SBA loans. For the full year 2025, Bankwell Financial is guiding to $93-$95 million in net interest income.
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