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Bankwell Financial EVP sells shares worth over $48k

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Bankwell Financial Group, Inc. (NASDAQ:) Executive Vice President and Chief Risk & Operations Officer, Steven H. Brunner, has sold a total of 2,005 shares of the company’s common stock in a series of transactions dated May 17 and May 21, 2024, totaling over $48,366. The shares were sold at prices ranging from $24.07 to $24.15 each.

The sale was reported in a recent filing with the Securities and Exchange Commission. Following the transactions, Brunner’s direct holdings in Bankwell Financial Group have adjusted to reflect the recent sales, yet he continues to hold a significant number of shares in the company, indicating continued alignment with the company’s performance.

The transactions occurred at a time when Bankwell Financial Group’s stock has been under the scrutiny of investors, with the financial sector experiencing various market pressures. The exact reasons for Brunner’s sale have not been disclosed, but such sales are not uncommon and can occur for a variety of personal or financial planning reasons.

Bankwell Financial Group, headquartered in New Canaan, Connecticut, operates as the bank holding company for Bankwell Bank, providing a range of banking services to the local community. The company has a strong presence in the region and has been part of the financial landscape for many years.

Investors often monitor insider transactions as they provide insights into how executives and directors are positioning themselves with respect to their company’s stock. While these sales represent a decrease in Brunner’s direct ownership, it’s important to note that executives may sell shares for reasons unrelated to their outlook on the company such as diversifying their investment portfolio or other personal financial considerations.

Shareholders and potential investors in Bankwell Financial Group are advised to consider the context of such transactions and to review the company’s ongoing performance and future prospects as part of their investment decision-making process.

InvestingPro Insights

Amidst the recent insider transactions at Bankwell Financial Group, Inc. (NASDAQ:BWFG), it’s valuable for investors to consider the company’s financial health and market performance. Bankwell Financial Group is currently trading at a low earnings multiple, with a P/E ratio of 6.37, reflecting a market sentiment that may see the stock as undervalued. This could be an opportune time for value investors to take a closer look, especially considering the company’s track record of maintaining dividend payments for 10 consecutive years, boasting a current dividend yield of 3.28%.

Despite a challenging environment marked by a revenue decline of 7.9% over the last twelve months as of Q1 2024, Bankwell Financial Group has managed to maintain a strong operating income margin of 48.14%. This is a testament to the company’s operational efficiency and could be a reassuring factor for investors concerned about the recent insider selling.

InvestingPro Tips reveal that while Bankwell Financial Group suffers from weak gross profit margins and is expecting a net income drop this year, analysts predict the company will be profitable this year, and it has been profitable over the last twelve months. For investors seeking more in-depth analysis, there are additional InvestingPro Tips available, which can be accessed by visiting InvestingPro. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and discover the full range of expert insights and tips to guide your investment decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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Michael Saylor Makes Epic Bitcoin Call Amid Market Lull: Details

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U.Today – Michael Saylor, chairman and cofounder of MicroStrategy, has made an epic call to the crypto community: “Learn to think in .” Saylor’s message comes at a time when the crypto market is experiencing a lull, with Bitcoin and many major assets showing little to no movement.

Bitcoin fell Friday to its lowest price in nearly a month, reaching lows of $65,005 before slightly rebounding. The price of Bitcoin currently sits at $66,571, per data from CoinMarketCap, up 0.40% on the day, while the current market performance remains mixed, with a handful of cryptocurrencies posting losses on the 24-hour time frame.

As the market is relatively quiet, some, including Saylor, see this as a time for introspection and strategic thinking, hence the call to “learn to think in Bitcoin.”

Saylor began purchasing Bitcoin in 2020 as an inflation hedge and alternative to holding cash. Saylor’s firm, MicroStrategy, has amassed around $12.7 billion in Bitcoin, or more than 1% of all Bitcoin ever created. The largest cryptocurrency by market capitalization has increased by more than 600% since Saylor began purchasing.

Bitcoin has risen by roughly 60% this year, thanks in part to optimism regarding U.S. Bitcoin spot ETFs approved in January. MicroStrategy’s stock has gained by around 135% over the same period.

MicroStrategy upped its convertible note offering by 40% to $700 million last week, announcing plans to utilize the funds to buy more Bitcoin.

While the context of Saylor’s tweet remains subject to interpretation, the call to “learn to think in Bitcoin” might be a reminder to look at the bigger picture, beyond the short-term market volatility.

On the other hand, Saylor’s message might be a call to embrace the financial paradigm ushered in by cryptocurrencies, heralding a fundamental shift in how value and wealth are perceived.

This article was originally published on U.Today

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Suspect dead, 9 wounded including children in shooting at Detroit area water park

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By Rich McKay and Kanishka Singh

(Reuters) -An armed man shot and injured nine people, including two children, at a water-park near Detroit on Saturday evening before shooting himself after being cornered by police, authorities said.

Authorities called the incident random gunfire and said they cornered the suspect in a house nearby, where he died after shooting himself.

The local sheriff showed an image of a semiautomatic rifle from inside the house to which the unnamed suspect was tracked. A handgun was recovered from the scene of the shooting, officials added. The suspect was described as a 42-year-old man, while the motives for the shooting were not clear.

An 8-year-old boy was in critical condition after being shot in the head while his 4-year-old brother was also wounded but stable. Their mother was in critical condition, too, after being hurt in the abdomen and leg, Oakland County Sheriff Michael Bouchard told reporters.

The other six victims, all aged 30 or older, were in stable condition according to Bouchard.

The suspect had got out of a vehicle in front of Brooklands Plaza Splash Pad park in Rochester Hills, Michigan, about 5 p.m. (2100 GMT) and fired about 30 shots from a 9mm semiautomatic Glock, reloading several times, Bouchard said in a press conference.

Rochester Hills is about 30 miles (50 km) north of Detroit. The neighboring community Oxford Township, also in Oakland County, was the scene of a 2021 mass school shooting where student Ethan Crumbley, then 15, killed four students and wounded six other students and a teacher at Oxford High School.

© Reuters. Rochester Hills, Michigan, June 15, 2024. Eric Seals/USA Today Network via REUTERS

“It’s a gut punch, obviously, for us here in Oakland County,” Bouchard said on Saturday. “We’ve gone through so many tragedies, you know. We’re not even fully comprehending what happened at Oxford.”

Michigan Governor Gretchen Whitmer said on X, “I am heartbroken to learn about the shooting in Rochester Hills.”

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Ukraine summit sees hard road to peace as way forward uncertain

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By Dave Graham and Sabine Siebold

BUERGENSTOCK, Switzerland (Reuters) -Western powers and their allies at a summit in Switzerland denounced Russia’s invasion of Ukraine on Sunday, but they failed to persuade major non-aligned states to join their final statement, and no country came forward to host a sequel.

Over 90 countries attended the two-day talks at a Swiss Alpine resort at the behest of Ukrainian President Volodymyr Zelenskiy, billed as a “peace summit” even though Moscow was not invited.

Russia ridiculed the event from afar. A decision by China to stay away all but assured that the summit would fail to achieve Ukraine’s goal of persuading major countries from the “global South” to join in isolating Russia.

Brazil attended only as an “observer”. And in the end, India, Indonesia, Mexico, Saudi Arabia and South Africa all withheld their signatures from the summit communique, even though some contentious issues were omitted in the hope of drawing wider support.

Still, the conference provided Kyiv with a chance to showcase the support from Western allies that it says it needs to keep fighting against a far bigger enemy.

“We are responding to Russia’s full-scale invasion of Ukraine not only with a full-scale defense of human life, but also with full-scale diplomacy,” Zelenskiy said.

Leaders including U.S. Vice President Kamala Harris, German Chancellor Olaf Scholz and French President Emmanuel Macron gathered at the mountaintop resort of Buergenstock. U.S. President Joe Biden, in Europe for other events last week, did not attend despite public invitations from Zelenskiy.

The frontlines in Ukraine have barely moved since the end of 2022, despite tens of thousands of dead on both sides in relentless trench warfare, the bloodiest fighting in Europe since World War Two.

In her closing remarks, Swiss President Viola Amherd warned that the “road ahead is long and challenging”.

Russia, as it has for weeks, mocked the gathering.

“None of the participants in the ‘peace forum’ knows what he is doing there and what his role is,” said Dmitry Medvedev, Russia’s former president and now deputy chairman of the country’s Security Council.

‘THINGS CAN’T GO ON LIKE THIS’

After initial Ukrainian successes that saw Kyiv repel an assault on the capital and recapture territory in the war’s first year, a major Ukrainian counter-offensive using donated Western tanks fizzled last year. Russian forces still hold a fifth of Ukraine and are again advancing, albeit slowly. No peace talks have been held for more than two years.

“We know that peace in Ukraine will not be achieved in one step, it will be a journey,” European Commission Chief Ursula von der Leyen said, calling for “patience and determination”.

“It was not a peace negotiation because (Russia’s President Vladimir) Putin is not serious about ending the war, he’s insisting on capitulation, he’s insisting on ceding Ukrainian territory – even territory that today is not occupied.”

In the absence of a clear path to ending the war, Zelenskiy emphasised practical issues, such as nuclear safety and securing food supplies from Ukraine, one of the world’s biggest grain exporters.

The summit’s final declaration called for Ukraine’s control over the Zaporizhzhia nuclear plant and its Azov Sea ports to be restored. But in line with the conference’s more modest stated aims, it omitted tougher issues of what a post-war settlement for Ukraine might look like, whether Ukraine could join the NATO alliance or how troop withdrawals from both sides might work.

“The more allies that can be found to say ‘Things can’t go on like this’, ‘This is too much’, ‘That’s overstepping the mark’, that also increases the moral pressure on the Russian Federation,” said Austrian Chancellor Karl Nehammer.

As Sunday’s talks turned towards issues of food security and nuclear power, some leaders left early.

No country came forward to host another such meeting, with notable silence from Saudi Arabia, mooted as a possible future venue. Foreign Minister Prince Faisal bin Farhan Al Saud said the kingdom was ready to assist the peace process but a viable settlement would hinge on “difficult compromise.”

Since initial peace talks in the first months after the Feb. 2022 invasion, Ukraine has consistently demanded Russia withdraw from all its land, while Moscow has demanded recognition of its rule over territory its forces captured.

Last week, in remarks clearly aimed at the conference, Putin said Russia would not halt the war until Kyiv withdraws its forces fully from four provinces that Moscow only partially controls and claims to have annexed. Kyiv swiftly denounced that as a demand for surrender.

“Of course we…understand perfectly that a time will come when it will be necessary to talk to Russia,” Ukrainian Foreign Minister Dmytro Kuleba said. “But our position is very clear: We will not allow Russia to speak in the language of ultimatums like it is speaking now.”

© Reuters. Stansstad, Switzerland, June 16, 2024. Urs Flueeler/Pool via REUTERS

Western leaders at the summit endorsed Kyiv’s refusal to negotiate under such terms.

“Confusing peace with subjugation would set a dangerous precedent for everyone,” said Italian Prime Minister Giorgia Meloni.

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