Bankwell Financial Group, Inc. Plans Quarterly Dividend of $0.20 (NASDAQ:BWFG)

Key Points

• Bankwell Financial Group announced a quarterly dividend of $0.20 per share, payable on August 21 to shareholders of record as of August 10. The dividend implies an annualized yield of about 1.3%.
• The dividend appears well covered by earnings, with a payout ratio of 16.6%, and analysts expect the company to continue covering its annual dividend with a projected payout ratio of 14.3% next year.
• The bank reported stronger-than-expected quarterly results, posting $1.52 EPS versus the $1.29 consensus and revenue of $32.78 million above estimates. Shares also rose on the news, trading near their 52-week high.

Bankwell Financial Group, Inc. (NASDAQ:BWFG - Get Free Report) announced a quarterly dividend on Thursday, July 23rd. Stockholders of record on Monday, August 10th will be given a dividend of 0.20 per share by the bank on Friday, August 21st. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, August 10th.

Bankwell Financial Group has raised its dividend by an average of 0.1%annually over the last three years. Bankwell Financial Group has a dividend payout ratio of 16.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bankwell Financial Group to earn $5.60 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 14.3%.

Bankwell Financial Group Price Performance

Shares of Bankwell Financial Group stock traded up $1.07 during midday trading on Thursday, reaching $60.57. The company had a trading volume of 215,561 shares, compared to its average volume of 49,703. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $482.74 million, a price-to-earnings ratio of 12.16 and a beta of 0.61. The stock has a fifty day simple moving average of $55.78 and a 200 day simple moving average of $51.35. Bankwell Financial Group has a 1-year low of $36.22 and a 1-year high of $61.86.

Bankwell Financial Group (NASDAQ:BWFG - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.23. Bankwell Financial Group had a net margin of 18.71% and a return on equity of 13.31%. The firm had revenue of $32.78 million during the quarter, compared to analysts' expectations of $30.63 million. As a group, equities research analysts forecast that Bankwell Financial Group will post 5.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings downgraded Bankwell Financial Group from a "buy (b+)" rating to a "buy (b)" rating in a research report on Wednesday, June 24th. Wall Street Zen cut Bankwell Financial Group from a "buy" rating to a "hold" rating in a report on Sunday, May 3rd. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Bankwell Financial Group presently has an average rating of "Moderate Buy" and a consensus target price of $52.00.

Bankwell Financial Group Company Profile

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.

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