Western New England Bancorp (WNEB) to Distribute Quarterly Dividend of $0.07 on November 25th

Western New England Bancorp (NASDAQ:WNEB) announced a quarterly dividend on Tuesday, October 27th. Shareholders of record on Wednesday, November 11th will be paid a dividend of $0.07 per share by the financial services provider on Wednesday, November 25th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, November 10th.

Western New England Bancorp has raised its dividend payment by an average of 0.1% per year over the last three years. Western New England Bancorp has a payout ratio of 35.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Western New England Bancorp to earn $1.07 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 26.2%.

Western New England Bancorp Stock Performance

Shares of NASDAQ WNEB opened at $13.69 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92. Western New England Bancorp has a one year low of $11.31 and a one year high of $15.01. The business’s 50-day moving average price is $13.76 and its two-hundred day moving average price is $13.64. The company has a market capitalization of $274.43 million, a P/E ratio of 13.69 and a beta of 0.73.

Western New England Bancorp (NASDAQ:WNEB) last posted its earnings results on Tuesday, October 27th. The financial services provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.26 by $0.06. The company had revenue of $23.16 million during the quarter, compared to the consensus estimate of $23.40 million. Western New England Bancorp had a net margin of 14.53% and a return on equity of 8.02%. Analysts anticipate that Western New England Bancorp will post 0.99 earnings per share for the current fiscal year.

Western New England Bancorp Company Profile

Western New England Bancorp, Inc is the bank holding company for Westfield Bank, a community bank headquartered in Westfield, Massachusetts. The company provides banking and financial services to individuals, families, businesses, nonprofit organizations and municipalities.

Westfield Bank offers deposit products, residential and commercial real estate lending, commercial and industrial loans, consumer loans, home equity financing and other credit services. Its services also include online and mobile banking, cash management, electronic payments and wealth management solutions.

Founded in 1853, Westfield Bank has a long history of serving communities in western Massachusetts and northern Connecticut.