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

Key Points

• Bankwell Financial Group declared a quarterly dividend of $0.20 per share, payable November 20 to shareholders of record November 9. The dividend implies an annualized payout of $0.80 and a 1.1% yield.
• The dividend appears well covered, with a 16.6% payout ratio and analysts expecting $5.90 in earnings per share next year, implying a projected payout ratio of 13.6%.
• Bankwell beat quarterly earnings expectations, reporting $1.58 EPS versus the $1.44 consensus and revenue of $35.33 million versus $33.33 million expected. Analysts rate the stock “Moderate Buy,” with an average price target of $67.50.

Bankwell Financial Group, Inc. (NASDAQ:BWFG - Get Free Report) declared a quarterly dividend on Thursday, October 29th. Investors of record on Monday, November 9th will be paid a dividend of $0.20 per share by the bank on Friday, November 20th. This represents a $0.80 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, November 9th.

Bankwell Financial Group has increased its dividend payment by an average of 0.1% per year over the last three years. Bankwell Financial Group has a payout ratio of 16.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bankwell Financial Group to earn $5.90 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 13.6%.

Bankwell Financial Group Stock Performance

Bankwell Financial Group stock opened at $69.65 on Friday. The company has a market cap of $555.25 million, a PE ratio of 13.02 and a beta of 0.58. Bankwell Financial Group has a 1 year low of $42.50 and a 1 year high of $70.34. The company's 50-day moving average is $66.29 and its two-hundred day moving average is $56.73. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.31.

Bankwell Financial Group (NASDAQ:BWFG - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.14. Bankwell Financial Group had a net margin of 19.80% and a return on equity of 13.94%. The business had revenue of $35.33 million for the quarter, compared to analysts' expectations of $33.33 million. Equities analysts anticipate that Bankwell Financial Group will post 5.70 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BWFG shares. Weiss Ratings lowered shares of Bankwell Financial Group from a "buy (a)" rating to a "buy (a-)" rating in a research report on Monday. Hovde Group boosted their target price on shares of Bankwell Financial Group from $51.00 to $63.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. Zacks Research cut shares of Bankwell Financial Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 25th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Bankwell Financial Group from $62.00 to $72.00 and gave the company an "outperform" rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Bankwell Financial Group has an average rating of "Moderate Buy" and an average price target of $67.50.

About Bankwell Financial Group

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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