Ernest Verrico (Insider Trades), CFO and executive vice president of Bankwell Financial Group Inc. (BWFG), bought 2,000 shares of the company on Feb. 1. The transaction amounted to an expenditure of $39,000.
Bankwell is a commercial bank that serves residents and businesses throughout Fairfield and New Haven counties, Connecticut. The company has a market cap of $143.93 million and a P/S ratio of 3.34.
The number and volume of Bankwell insider buys decreased since 2014. There were 14 insider buys in 2014, which was halved the following year. The volume of insider buys also decreased during this period. There was a spike in insider buys in May 2014, which correlates with an approximate $5 drop in month-end price. 
Aside from Verrico’s aforementioned transaction, another insider increased his stake in Bankwell on Feb. 1. Board member Carl Porto (Insider Trades) bought 2,500 company shares at an average price per share of $19.50. For more information about insider trades with Bankwell, click here.
Bankwell reported net income of $2.618 million in the fourth quarter of 2015, up from net income of $727,000 in the corresponding quarter of 2014. Earnings per share more than tripled from 10 cents to 35 cents during this time. Annual revenue and annual income grew 72.91% and 77.82% since 2010. 
The company also declared a 5 cents per share cash dividend payable Feb. 22 to shareholders of record Feb. 12. Bankwell’s board of directors also redeemed $10.98 million of preferred stock issued pursuant to the U.S. Department of Treasury under the Small Business Lending Fund Program.
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