Bankwell Financial Group, Inc. (NASDAQ:BWFG – Get Rating) declared a quarterly dividend on Wednesday, July 27, Zacks reports. Investors of record on Monday August 15 will receive a dividend of 0.20 per share from the bank on Thursday August 25. This represents a dividend of $0.80 on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Friday, August 12.
Bankwell Financial Group has a dividend payout ratio of 22.0%, indicating that its dividend is sufficiently covered by earnings.
Bankwell Financial Group Share Performance
Shares of BWFG opened at $32.61 on Friday. The company’s 50-day simple moving average is $32.51 and its two-hundred-day simple moving average is $33.54. Bankwell Financial Group has a 52-week low of $27.83 and a 52-week high of $36.87. The company has a debt ratio of 0.40, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $253.05 million, a price-earnings ratio of 8.84 and a beta of 0.75.
Bankwell Financial Group (NASDAQ:BWFG – Get Rating) last released its quarterly earnings data on Wednesday, July 27. The bank reported EPS of $1.55 for the quarter, beating the consensus estimate of $1.03 by $0.52. Bankwell Financial Group posted a net margin of 32.50% and a return on equity of 14.83%.
Changes to analyst ratings
Separately, StockNews.com launched coverage on Bankwell Financial Group shares in a research report on Thursday, March 31. They issued a “buy” rating on the stock.
In other Bankwell Financial Group news, Director Darryl Demos acquired 1,450 shares in a trade dated Thursday, May 26. The shares were purchased at an average price of $34.55 per share, for a total transaction of $50,097.50. Following the purchase, the director now directly owns 1,450 shares of the company, valued at $50,097.50. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders purchased a total of 2,104 shares of the company worth $70,901 over the past 90 days. 28.00% of the shares are currently held by insiders.
Institutional entries and exits
A number of institutional investors and hedge funds have recently changed their holdings in BWFG. US Bancorp DE increased its stake in Bankwell Financial Group by 15.6% during the first quarter. US Bancorp DE now owns 2,219 shares of the bank worth $75,000 after buying 300 additional shares during the period. UBS Group AG increased its stake in shares of Bankwell Financial Group by 34.8% in the first quarter. UBS Group AG now owns 3,875 shares in the bank valued at $131,000 after acquiring an additional 1,000 shares last quarter. Jane Street Group LLC bought a new position in Bankwell Financial Group in the first quarter worth approximately $214,000. JPMorgan Chase & Co. increased its stake in Bankwell Financial Group by 7.8% in the first quarter. JPMorgan Chase & Co. now owns 6,383 shares of the bank worth $216,000 after buying 460 more shares in the last quarter. Finally, Citigroup Inc. bought a new position in Bankwell Financial Group in the first quarter worth about $243,000. 32.55% of the shares are held by hedge funds and other institutional investors.
About Bankwell Financial Group
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Bankwell Financial Group, Inc operates as a bank holding company for Bankwell Bank which provides various retail and corporate banking services. It offers various traditional deposit products, including checks, savings, money market and certificates of deposit. The company also offers first mortgage loans secured by residential properties occupied by one to four families for personal use; home equity loans and home equity lines of credit secured by owner-occupied single family residential properties of one to four families; loans secured by investor-owned commercial real estate, multi-family dwellings and single-family dwellings; commercial construction loans for commercial development projects, including apartment buildings and condominiums, as well as office buildings, retail and other income-generating properties; land loans; commercial enterprise loans secured by assignments of corporate assets and personal guarantees from business owners; loans secured by savings or certificate accounts and automobiles; and unsecured personal loans and overdraft lines of credit.
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