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Christine Chivily, Executive Vice President and Chief Credit Officer at Bankwell Financial Group, Inc. (NASDAQ:BWFG), has reported a sale of 942 shares of the company’s common stock. The shares were sold on February 7, 2025, at an average price of $32.63, totaling approximately $30,737. This transaction was part of a company-sponsored cashless stock exercise program aimed at covering tax liabilities. The sale occurred near the stock’s 52-week high of $35.25, with the company showing strong momentum, up 25% over the past year. InvestingPro analysis suggests the stock is currently trading above its Fair Value.
In addition to the sale, Chivily received several stock grants under the 2022 Bankwell Financial Group Stock Plan. These included 1,470 shares, which are a mix of restricted and performance-restricted stock, 245 shares of performance-restricted stock, and 490 shares of performance-restricted stock. These grants come with specific vesting schedules and performance conditions. Following these transactions, Chivily holds a total of 16,047 shares of Bankwell Financial’s common stock, representing a stake in this $241 million market cap company. InvestingPro data reveals the company has maintained dividend payments for 11 consecutive years, with analysts forecasting continued profitability and net income growth this year.
In other recent news, Bankwell Financial Group reported an increase in its fourth-quarter earnings, announcing a GAAP net income of $2.5 million, or $0.32 per share. The board of directors has also declared a $0.20 per share cash dividend for shareholders. However, the company’s pre-tax, pre-provision net revenue declined 12% to $7.9 million. CEO Christopher R. Gruseke highlighted the sale of two nonperforming assets totaling $35.4 million and the expected benefits from repricing time deposits and maturing loans.
In addition, Bankwell Financial has amended a previous 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 signifies a significant change in the company’s approach to shareholder ownership limits.
These are recent developments that also include the launch of a new SBA (LON:SBA) lending division by Bankwell Financial in the first quarter of 2025. The company anticipates growth in noninterest income from future gains on the sale of guaranteed portions of new SBA loans. For the full year 2025, the company is guiding to $93-$95 million in net interest income, $7-$8 million in noninterest income, and $56-$57 million in noninterest expense.
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