Bankwell financial director Jeffrey Dunne acquires $6,547 in stock
Jeffrey R. Dunne, a director at Bankwell Financial Group, Inc. (NASDAQ:), recently acquired additional shares of the company’s common stock. On December 6, Dunne purchased 199 shares, with the transaction valued at approximately $6,547. The shares were acquired at a price range between $32.79 and $32.95 per share, close to the current trading price of $32.61. The $248.85 million market cap company has seen its stock surge nearly 40% over the past six months.
Following this transaction, Dunne’s total holdings in Bankwell Financial Group include 3,447 shares held indirectly through a deferred compensation plan. Additionally, he holds 834 shares directly, with further holdings of 1,600 and 1,666 shares, respectively, under different ownership structures. InvestingPro data shows the company maintains a steady 2.42% dividend yield and has consistently paid dividends for the past decade.
These transactions were detailed in a Form 4 filing with the Securities and Exchange Commission, providing transparency into Dunne’s investment activities with Bankwell Financial Group. According to InvestingPro analysis, the stock is currently trading near its Fair Value, with additional insights and metrics available to subscribers.
In other recent news, Bankwell Financial Group reported an increase in net income for the third quarter of 2024, reaching $1.9 million. However, the company also announced an $8.2 million charge-off against a $13.7 million office loan participation, which had a significant impact on the earnings. In addition, the company’s board authorized a new share repurchase plan, allowing the company to buy back up to 250,000 shares of its outstanding common stock.
These recent developments also include a significant amendment to Bankwell’s bylaws, approved by the company’s Board of Directors. Changes include adjusting the month for the annual shareholders’ meeting and modernizing the company’s approach to share documentation.
Furthermore, Bankwell continues to invest in growth, with recent initiatives including a lending partnership and the launch of a new Small Business Administration division. The company also anticipates a reduction in funding costs and potential benefits to the net interest margin from maturing loans in the coming year.
These facts provide investors with a snapshot of the recent developments at Bankwell Financial Group.
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