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

Western New England Bancorp, Inc. (NASDAQ:WNEB) declared a quarterly dividend on Wednesday, October 23rd, Zacks reports. Investors 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 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Thursday, November 7th.

Western New England Bancorp has raised 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 47.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Western New England Bancorp to earn $0.59 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 47.5%.

Western New England Bancorp Price Performance

Shares of WNEB stock opened at $8.71 on Friday. Western New England Bancorp has a fifty-two week low of $6.00 and a fifty-two week high of $9.25. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $188.38 million, a price-to-earnings ratio of 14.52 and a beta of 0.69. The stock’s 50-day simple moving average is $8.68 and its 200-day simple moving average is $7.55.

Western New England Bancorp (NASDAQ:WNEB) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). Western New England Bancorp had a net margin of 11.33% and a return on equity of 5.73%. As a group, equities analysts forecast that Western New England Bancorp will post 0.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

WNEB has been the topic of several recent research reports. Seaport Res Ptn lowered Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Janney Montgomery Scott lowered Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Finally, Piper Sandler upped their price objective on shares of Western New England Bancorp from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Western New England Bancorp has an average rating of “Hold” and an average target price of $8.00.

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.