Western New England Bancorp, Inc. to Issue Quarterly Dividend of $0.07 (NASDAQ:WNEB)

Western New England Bancorp, Inc. (NASDAQ:WNEB) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Stockholders of record on Wednesday, May 8th will be given a dividend of 0.07 per share by the financial services provider on Wednesday, May 22nd. This represents a $0.28 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend is Tuesday, May 7th.

Western New England Bancorp has raised its dividend by an average of 11.9% per year over the last three years and has raised its dividend every year for the last 2 years. Western New England Bancorp has a dividend payout ratio of 40.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Western New England Bancorp to earn $0.72 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 38.9%.

Western New England Bancorp Stock Up 0.6 %

Shares of WNEB stock traded up $0.04 during mid-day trading on Thursday, hitting $6.56. The company’s stock had a trading volume of 9,110 shares, compared to its average volume of 40,618. Western New England Bancorp has a 52-week low of $5.58 and a 52-week high of $9.25. The business has a 50-day moving average price of $7.57 and a 200 day moving average price of $7.88. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $142.42 million, a price-to-earnings ratio of 10.87 and a beta of 0.61.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The firm had revenue of $18.89 million for the quarter, compared to analysts’ expectations of $18.67 million. Western New England Bancorp had a net margin of 11.10% and a return on equity of 5.44%. Research analysts predict that Western New England Bancorp will post 0.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Piper Sandler reiterated a “neutral” rating and set a $7.50 price objective (down previously from $9.00) on shares of Western New England Bancorp in a research report on Wednesday. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Western New England Bancorp has an average rating of “Hold” and an average target price of $7.50.

Western New England Bancorp Company Profile

Western New England Bancorp, Inc operates as the holding company for Westfield Bank that provides a range of commercial and retail banking products and services to individuals and businesses. The company accepts various deposit accounts, including interest-bearing and noninterest-bearing checking, commercial checking, business, nonprofit and municipal checking, savings, money market and sweep, individual retirement, and other savings accounts; time deposits; certificates of deposit; and interest on lawyer's trust accounts.