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

by · The Markets Daily

Western New England Bancorp, Inc. (NASDAQ:WNEB – Get Free Report) announced a quarterly dividend on Wednesday, October 23rd, Zacks reports. Shareholders 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 yield of 3.21%. The ex-dividend date is Thursday, November 7th.

Western New England Bancorp has raised its dividend by an average of 11.9% per year over the last three years. Western New England Bancorp has a payout ratio of 47.5% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Performance

Shares of WNEB opened at $8.71 on Friday. The company has a market cap of $188.38 million, a PE ratio of 14.52 and a beta of 0.69. The firm has a 50-day moving average of $8.68 and a 200-day moving average of $7.55. Western New England Bancorp has a one year low of $6.00 and a one 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.

Western New England Bancorp (NASDAQ:WNEB – Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.06. The business had revenue of $30.64 million during the quarter, compared to analysts’ expectations of $18.22 million. Western New England Bancorp had a return on equity of 5.73% and a net margin of 11.33%. As a group, equities analysts forecast that Western New England Bancorp will post 0.52 earnings per share for the current year.

Analysts Set New Price Targets

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

Check Out Our Latest Analysis on WNEB

Western New England Bancorp Company Profile

(Get Free Report)

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.

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