Bankwell Financial Group, Inc. (BWFG) to Distribute Quarterly Dividend of $0.20 on November 20th

Bankwell Financial Group, Inc. (NASDAQ:BWFG) declared a quarterly dividend on Thursday, October 29th. Investors of record on Monday, November 9th will be given a dividend of $0.20 per share by the bank on Friday, November 20th. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, November 9th.

Bankwell Financial Group has increased its dividend by an average of 0.1% per year over the last three years. Bankwell Financial Group has a payout ratio of 16.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bankwell Financial Group to earn $5.90 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 13.6%.

Bankwell Financial Group Trading Up 2.3%

Bankwell Financial Group stock opened at $71.23 on Friday. The stock has a market cap of $567.70 million, a P/E ratio of 12.31 and a beta of 0.58. Bankwell Financial Group has a fifty-two week low of $42.50 and a fifty-two week high of $71.50. The firm’s fifty day moving average price is $66.39 and its 200-day moving average price is $56.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.03 and a current ratio of 1.03.

Bankwell Financial Group (NASDAQ:BWFG) last posted its quarterly earnings data on Thursday, October 29th. The bank reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.14. Bankwell Financial Group had a net margin of 20.49% and a return on equity of 14.58%. The company had revenue of $35.33 million for the quarter, compared to analysts’ expectations of $33.33 million. Equities research analysts forecast that Bankwell Financial Group will post 5.70 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bankwell Financial Group news, Director Eric J. Dale purchased 530 shares of the stock in a transaction on Tuesday, September 8th. The stock was acquired at an average cost of $67.11 per share, with a total value of $35,568.30. Following the completion of the purchase, the director directly owned 43,026 shares of the company’s stock, valued at approximately $2,887,474.86. This trade represents a 1.25% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lawrence B. Seidman purchased 5,266 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were acquired at an average price of $66.94 per share, with a total value of $352,506.04. Following the completion of the transaction, the director owned 225,640 shares of the company’s stock, valued at approximately $15,104,341.60. This trade represents a 2.39% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 19,040 shares of company stock valued at $1,269,057 in the last ninety days. 20.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bankwell Financial Group

A number of hedge funds and other institutional investors have recently modified their holdings of BWFG. XML Financial LLC purchased a new position in shares of Bankwell Financial Group during the third quarter valued at approximately $359,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Bankwell Financial Group during the third quarter valued at approximately $49,000. State of Alaska Department of Revenue lifted its stake in Bankwell Financial Group by 69.7% in the third quarter. State of Alaska Department of Revenue now owns 728 shares of the bank’s stock worth $46,000 after acquiring an additional 299 shares during the period. Engineers Gate Manager LP bought a new stake in Bankwell Financial Group in the second quarter valued at $211,000. Finally, Corient Private Wealth LP increased its position in Bankwell Financial Group by 1.5% during the 2nd quarter. Corient Private Wealth LP now owns 22,223 shares of the bank’s stock valued at $1,306,000 after purchasing an additional 320 shares during the period. Institutional investors own 35.80% of the company’s stock.

About Bankwell Financial Group

Bankwell Financial Group, Inc is a bank holding company headquartered in New Canaan, Connecticut, and serves as the parent company of Bankwell Bank. Bankwell Bank provides commercial, business and personal banking services, with branch locations primarily across Fairfield and New Haven counties in Connecticut, along with a New York presence.

The company’s deposit offerings include checking, savings and money market accounts, as well as certificates of deposit, all supported by an online and mobile banking platform for convenient account access.