Bankwell Financial Group Inc (BWFG) Declares $0.12 Quarterly Dividend
Bankwell Financial Group Inc (NASDAQ:BWFG) announced a quarterly dividend on Wednesday, October 31st, Wall Street Journal reports. Shareholders of record on Friday, November 16th will be given a dividend of 0.12 per share by the bank on Monday, November 26th. This represents a $0.48 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, November 15th.
Bankwell Financial Group has a dividend payout ratio of 20.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bankwell Financial Group to earn $2.31 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 20.8%.
NASDAQ BWFG opened at $29.90 on Friday. Bankwell Financial Group has a fifty-two week low of $29.35 and a fifty-two week high of $36.99. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $233.15 million, a price-to-earnings ratio of 14.73 and a beta of 0.44.
Several research analysts have recently issued reports on the company. ValuEngine lowered Bankwell Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 8th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $34.00 target price on shares of Bankwell Financial Group in a research report on Wednesday, August 8th. Zacks Investment Research raised Bankwell Financial Group from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Wednesday, August 8th. Boenning Scattergood set a $37.00 target price on Bankwell Financial Group and gave the stock a “buy” rating in a research report on Monday, July 16th. Finally, BidaskClub lowered Bankwell Financial Group from a “hold” rating to a “sell” rating in a research report on Friday, August 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Bankwell Financial Group presently has an average rating of “Hold” and an average price target of $35.00.
In other news, EVP Laura Waitz sold 1,265 shares of the stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $31.30, for a total value of $39,594.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 21.87% of the stock is currently owned by corporate insiders.
Bankwell Financial Group Company Profile
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 demand and NOW deposits, as well as certificates of deposit.
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