Bankwell Financial’s principal accounting officer sells $8,883 in stock

Angelo G. Fusaro, the Principal Accounting Officer at Bankwell Financial Group, Inc. (NASDAQ:BWFG), a regional bank with a market capitalization of $241 million, recently sold 279 shares of the company’s common stock. The transaction, which took place on February 7, 2025, was executed at a price of $31.84 per share, amounting to a total value of $8,883. According to InvestingPro analysis, the stock currently trades slightly above its Fair Value, with a price-to-book ratio of 0.89. This sale was part of a company-sponsored cashless stock exercise program, designed to cover tax liabilities arising from the vesting of a total of 750 shares.

In addition to this sale, Fusaro was granted 306 shares of Bankwell Financial stock under the 2022 Stock Plan. These shares are set to vest in three equal annual installments, starting February 7, 2026. Following these transactions, Fusaro’s direct ownership stands at 1,737 shares.

In other recent news, Bankwell Financial Group reported an increase in its fourth-quarter earnings, declaring a cash dividend for shareholders. The financial institution disclosed a GAAP net income of $2.5 million, or $0.32 per share, a jump from the previous quarter’s $1.9 million, or $0.24 per share. The board has also announced a $0.20 per share cash dividend for shareholders. Despite these positive developments, the company’s pre-tax, pre-provision net revenue declined by 12%.

Bankwell Financial Group also revealed the execution of purchase and sale agreements on two nonperforming assets, which are expected to significantly reduce nonperforming assets as a percentage of total assets. Additionally, the company has launched a new SBA (LON:SBA) lending division, anticipating growth in noninterest income from future gains on the sale of guaranteed portions of new SBA loans.

In another development, Bankwell Financial Group has amended an 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, a substantial increase from the previous limit of 9.9%. The amendment could potentially lead to increased investment by Seidman and his affiliates, suggesting confidence in the bank’s performance and strategic direction. These are among the recent developments at Bankwell Financial Group.

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