Western New England Bancorp (NASDAQ:WNEB) Announces Quarterly Dividend of $0.07

Western New England Bancorp (NASDAQ:WNEB) announced a quarterly dividend on Tuesday, January 27th. Shareholders of record on Wednesday, February 11th will be paid a dividend of 0.07 per share by the financial services provider on Wednesday, February 25th. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, February 11th.

Western New England Bancorp has increased its dividend by an average of 0.1%annually over the last three years. Western New England Bancorp has a dividend payout ratio of 35.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Western New England Bancorp to earn $0.76 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 36.8%.

Western New England Bancorp Price Performance

NASDAQ:WNEB traded up $0.34 during mid-day trading on Wednesday, reaching $13.16. The stock had a trading volume of 68,364 shares, compared to its average volume of 43,266. The firm has a 50 day moving average price of $12.72 and a two-hundred day moving average price of $11.97. Western New England Bancorp has a one year low of $7.63 and a one year high of $13.95. The stock has a market capitalization of $269.55 million, a P/E ratio of 19.93 and a beta of 0.83. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 0.94.

Western New England Bancorp (NASDAQ:WNEB) last announced its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. Western New England Bancorp had a net margin of 10.33% and a return on equity of 5.58%. The business had revenue of $22.01 million for the quarter, compared to analyst estimates of $18.62 million. As a group, analysts expect that Western New England Bancorp will post 0.6 earnings per share for the current year.

Western New England Bancorp Company Profile

Western New England Bancorp is a bank holding company headquartered in Westfield, Massachusetts. Through its wholly owned subsidiary, Westfield Bank, the company provides a full suite of commercial and consumer banking services. Its operations focus on serving small to mid-sized businesses, professional practices, and individual customers, with a strategy centered on relationship-driven banking and community involvement.

The company’s core offerings include deposit products such as checking, savings and money market accounts, along with business cash-management solutions.