Bankwell Financial Group, Inc. (NASDAQ:BWFG) to Issue $0.20 Quarterly Dividend

Bankwell Financial Group, Inc. (NASDAQ:BWFG) announced a quarterly dividend on Monday, October 28th, Zacks reports. Stockholders of record on Monday, November 11th will be paid a dividend of 0.20 per share by the bank on Friday, November 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Friday, November 8th.

Bankwell Financial Group has raised its dividend payment by an average of 12.6% annually over the last three years. Bankwell Financial Group has a payout ratio of 22.7% indicating that its dividend is sufficiently covered by earnings.

Bankwell Financial Group Stock Up 12.8 %

NASDAQ:BWFG opened at $32.39 on Thursday. The stock has a 50-day simple moving average of $29.50 and a 200 day simple moving average of $26.62. Bankwell Financial Group has a one year low of $22.47 and a one year high of $32.39. The company has a market capitalization of $254.49 million, a price-to-earnings ratio of 16.61 and a beta of 0.83. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.06 and a current ratio of 1.06.

Bankwell Financial Group (NASDAQ:BWFG) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.32. Bankwell Financial Group had a return on equity of 5.74% and a net margin of 7.77%. The business had revenue of $49.35 million during the quarter.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $34.00 target price on shares of Bankwell Financial Group in a report on Wednesday, October 16th.

Insiders Place Their Bets

In other news, EVP Christine Chivily sold 1,815 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $27.88, for a total transaction of $50,602.20. Following the completion of the transaction, the executive vice president now directly owns 14,449 shares of the company’s stock, valued at approximately $402,838.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.20% of the stock is currently owned by corporate insiders.

About Bankwell Financial Group

Bankwell Financial Group, Inc operates as the bank holding company for Bankwell Bank that provides various banking services for individual and commercial customers. It offers various traditional depository products, including checking, savings, money market, and certificates of deposit. The company also provides first mortgage loans secured by one-to-four family owner occupied residential properties for personal use; home equity loans and home equity lines of credit secured by owner occupied one-to-four family residential properties; loans secured by commercial real estate, multi-family dwellings, owner-occupied commercial real estate, and investor-owned one-to-four family dwellings; commercial construction loans for commercial development projects, including apartment buildings and condominiums, as well as office buildings, retail, and other income producing properties; land loans; commercial business loans secured by assignments of corporate assets and personal guarantees of the business owners; loans to finance insurance premiums; overdraft lines of credit; and unsecured personal loans.