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NEW CANAAN, CT—Jeffrey R. Dunne, a director at Bankwell Financial Group, Inc. (NASDAQ:BWFG), a $228.51 million market cap financial institution, recently acquired 441 shares of the company’s common stock. The transaction, which took place on March 6, 2025, was valued at approximately $13,521, with each share priced at $30.66. Following this acquisition, Dunne’s indirect ownership, held through a Deferred Compensation Plan, now totals 4,092 shares. The stock has delivered a robust 22.27% return over the past year.
In addition to his indirect holdings, Dunne has direct ownership of 1,800 shares of restricted stock granted on February 7, 2025. These shares are set to vest in three equal installments over the next three years. Furthermore, Dunne holds another 1,067 shares of restricted stock from a previous grant, with a portion having already vested. The company maintains a steady 2.66% dividend yield and has consistently paid dividends for 11 consecutive years.
This latest acquisition underscores Dunne’s continued investment in Bankwell Financial Group, as the company navigates the evolving financial landscape. InvestingPro analysis reveals additional insights about the company’s financial health and growth prospects, with multiple exclusive ProTips available for subscribers.
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 board of directors declared a $0.20 per share cash dividend, payable on February 21, 2025. Despite these earnings, the company’s pre-tax, pre-provision net revenue declined by 12% to $7.9 million. Bankwell’s net interest margin decreased to 2.60% from 2.72% in the third quarter. However, the company expects an annualized increase in net interest income of approximately $4.4 million due to the repricing of $1.3 billion in time deposits over the next year.
In another development, Bankwell Financial Group amended an 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 removed previous conditions related to the tangible book value per share and stock price, reflecting a change in the company’s approach to shareholder ownership limits. Additionally, Bankwell launched a new SBA (LON:SBA) lending division and anticipates growth in noninterest income from future gains on the sale of guaranteed portions of new SBA loans. The company projects net interest income of $93-$95 million and noninterest income of $7-$8 million for the full year 2025.
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