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Matt McNeill, President and Chief Business Officer of Bankwell Financial Group, Inc. (NASDAQ:BWFG), a $241 million market cap financial institution, has recently sold shares in the company, according to a recent filing with the Securities and Exchange Commission. According to InvestingPro data, the stock has shown strong momentum with a 25% return over the past year. McNeill sold a total of 1,908 shares of common stock on February 7, 2025, at prices ranging from $32.04 to $32.85, amounting to approximately $61,876. Following this transaction, McNeill retains ownership of 40,353 shares directly. The sale occurred as Bankwell trades near its 52-week high of $35.25, with InvestingPro analysis suggesting the stock is currently overvalued.
Additionally, McNeill acquired 15,000 shares of common stock as part of the 2022 Bankwell Financial Group, Inc. Stock Plan. These shares are performance-restricted and will vest in 2028, contingent upon meeting specified performance goals. The company has maintained dividend payments for 11 consecutive years, currently offering a 2.5% yield, and analysts expect continued profitability this year.
In other recent news, Bankwell Financial Group reported an increase in its fourth-quarter earnings and declared a cash dividend for shareholders. The company’s earnings rose to $2.5 million, or $0.32 per share, compared to $1.9 million, or $0.24 per share, in the previous quarter. A cash dividend of $0.20 per share was declared, payable to shareholders of record in February 2025.
Bankwell Financial also announced the execution of sale agreements on two nonperforming assets, totaling $35.4 million, with the expectation of reducing nonperforming assets as a percentage of total assets. The company also launched a new SBA (LON:SBA) lending division in the first quarter of 2025, anticipating growth in noninterest income from future sales of guaranteed portions of new SBA loans.
In a separate development, Bankwell Financial amended a previous agreement with investor Lawrence B. Seidman, allowing him and his affiliates to acquire up to 14.99% of Bankwell’s fully diluted outstanding common stock, up from the previous limit of 9.9%. These recent developments underscore the ongoing financial activities at Bankwell Financial Group, highlighting the company’s strategic moves towards growth and shareholder relations.
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