Bankwell Financial Group Inc (NASDAQ:BWFG) announced a quarterly dividend on Tuesday, July 28th, Zacks reports. Shareholders of record on Friday, August 14th will be given a dividend of 0.14 per share by the bank on Monday, August 24th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Thursday, August 13th.
Bankwell Financial Group has increased its dividend by an average of 136.4% annually over the last three years and has raised its dividend every year for the last 4 years. Bankwell Financial Group has a payout ratio of 40.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Bankwell Financial Group to earn $1.79 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 31.3%.
Shares of NASDAQ BWFG traded up $0.34 during mid-day trading on Thursday, reaching $15.86. 6,558 shares of the company traded hands, compared to its average volume of 11,411. Bankwell Financial Group has a fifty-two week low of $12.07 and a fifty-two week high of $30.00. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $124.82 million, a PE ratio of 12.29 and a beta of 0.77. The stock has a fifty day simple moving average of $15.51 and a 200-day simple moving average of $19.16.
Bankwell Financial Group (NASDAQ:BWFG) last issued its quarterly earnings results on Tuesday, July 28th. The bank reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. Bankwell Financial Group had a return on equity of 5.75% and a net margin of 12.05%. The firm had revenue of $14.21 million during the quarter, compared to analyst estimates of $14.55 million. As a group, analysts predict that Bankwell Financial Group will post 1.4 EPS for the current fiscal year.
In related news, Director James M. Garnett, Jr. purchased 2,001 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average price of $14.00 per share, for a total transaction of $28,014.00. Following the transaction, the director now directly owns 5,008 shares of the company’s stock, valued at approximately $70,112. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 2,953 shares of company stock valued at $41,971 in the last quarter. 16.58% of the stock is currently owned by corporate insiders.
A number of research analysts recently issued reports on the company. ValuEngine raised Bankwell Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. Zacks Investment Research cut shares of Bankwell Financial Group from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th.
About Bankwell Financial Group
Bankwell Financial Group, Inc operates as the bank holding company for Bankwell Bank that provides a range of banking services to commercial and consumer customers in Connecticut. It accepts checking, savings, and money market accounts; and time, demand, and NOW deposits, as well as certificates of deposit.
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