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Bankwell Financial Group ( (BWFG) ) has issued an update.
On January 22, 2025, Bankwell Financial Group, Inc. reported its financial results for the fourth quarter of 2024, announcing a GAAP net income of $2.5 million, an increase from the previous quarter. The board declared a quarterly dividend of $0.20 per share, payable on February 21, 2025. Despite a decline in pre-tax, pre-provision net revenue, the company executed agreements to sell nonperforming assets, expecting a reduction in nonperforming asset ratios. Bankwell anticipates significant benefits from time deposit repricing and loan maturities in the coming year, contributing to net interest income. The company has also launched a new SBA lending division, expected to drive future growth in noninterest income, and remains focused on reducing CRE exposure and managing its liability-sensitive balance sheet.
More about Bankwell Financial Group
Bankwell Financial Group, Inc. operates in the financial services industry, primarily offering banking services through its subsidiary, Bankwell Bank. The company focuses on providing a range of financial products and services, including commercial and personal banking solutions, with an emphasis on community-oriented banking.
YTD Price Performance: -1.55%
Average Trading Volume: 15,971
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $234.4M
For an in-depth examination of BWFG stock, go to TipRanks’ Stock Analysis page.
