Western New England Bancorp, Inc. (WNEB) to Issue Quarterly Dividend of $0.07 on November 21st

Western New England Bancorp, Inc. (NASDAQ:WNEB) announced a quarterly dividend on Wednesday, October 23rd, Zacks reports. Stockholders of record on Thursday, November 7th will be given a dividend of 0.07 per share by the financial services provider on Thursday, November 21st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Thursday, November 7th.

Western New England Bancorp has increased its dividend payment by an average of 11.9% per year over the last three years. Western New England Bancorp has a dividend payout ratio of 49.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Western New England Bancorp to earn $0.57 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 49.1%.

Western New England Bancorp Price Performance

Shares of NASDAQ:WNEB opened at $8.69 on Tuesday. Western New England Bancorp has a 1 year low of $6.00 and a 1 year high of $9.25. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.95 and a quick ratio of 0.95. The stock’s 50-day moving average is $8.69 and its 200 day moving average is $7.66. The company has a market cap of $185.27 million, a PE ratio of 16.71 and a beta of 0.68.

Western New England Bancorp (NASDAQ:WNEB) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). Western New England Bancorp had a return on equity of 4.60% and a net margin of 9.05%. The business had revenue of $30.98 million during the quarter, compared to analysts’ expectations of $17.39 million. Sell-side analysts anticipate that Western New England Bancorp will post 0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on WNEB shares. Seaport Res Ptn cut Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Janney Montgomery Scott lowered shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Finally, Piper Sandler raised their target price on shares of Western New England Bancorp from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, July 24th.

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.