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

Western New England Bancorp, Inc. (NASDAQ:WNEB) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Shareholders of record on Wednesday, May 8th will be paid a dividend of 0.07 per share by the financial services provider on Wednesday, May 22nd. This represents a $0.28 dividend on an annualized basis 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% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Western New England Bancorp has a payout ratio of 40.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 trading on Thursday, reaching $6.56. The company’s stock had a trading volume of 9,110 shares, compared to its average volume of 40,618. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $142.42 million, a price-to-earnings ratio of 10.87 and a beta of 0.61. The stock’s 50-day moving average price is $7.57 and its 200 day moving average price is $7.88. Western New England Bancorp has a 1-year low of $5.58 and a 1-year high of $9.25.

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

Analyst Upgrades and Downgrades

Separately, Piper Sandler restated a “neutral” rating and set a $7.50 target price (down from $9.00) on shares of Western New England Bancorp in a research report on Wednesday. Three equities research 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, the company has a consensus rating of “Hold” and a consensus price target of $7.50.

About Western New England Bancorp

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.