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Jeffrey R. Dunne, a director at Bankwell Financial Group, Inc. (NASDAQ:BWFG), recently acquired 85 shares of the company’s common stock. The purchase, made on March 12, 2025, was valued at approximately $2,468, with each share priced at $29.04. The transaction comes as Bankwell, with a market capitalization of $225 million, trades at a P/E ratio of 23.6x and offers a dividend yield of 2.73%. According to InvestingPro analysis, the stock appears slightly overvalued at current levels.
Following this transaction, Dunne holds a total of 4,177 shares indirectly through a Deferred Compensation Plan. Additionally, Dunne’s direct holdings include restricted stock, with 1,800 shares granted on February 7, 2025, under the company’s 2022 Stock Plan. These shares are set to vest in equal installments over the next three years. Another 1,067 shares were granted on December 29, 2023, with a portion already vested and the remainder scheduled to vest by 2027. Notably, InvestingPro data shows the company has maintained dividend payments for 11 consecutive years, demonstrating consistent shareholder returns.
This recent activity reflects Dunne’s continued investment in Bankwell Financial Group as the company navigates the current financial landscape. InvestingPro reveals additional insights about Bankwell’s financial health and growth prospects, with analysts expecting net income growth this year.
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, to shareholders of record as of February 11, 2025. Despite the positive earnings report, the pre-tax, pre-provision net revenue declined by 12% to $7.9 million from $9.0 million in the third quarter. Bankwell Financial Group has executed purchase and sale agreements on two nonperforming assets totaling $35.4 million, which will reduce nonperforming assets significantly. Additionally, the company launched a new SBA (LON:SBA) lending division in the first quarter of 2025, anticipating growth in noninterest income. In a separate development, Bankwell Financial 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 removes previous constraints related to the tangible book value per share and stock price. These developments reflect a strategic shift in Bankwell’s approach to shareholder ownership limits and its operational focus.
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