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

Western New England Bancorp, Inc. (NASDAQ:WNEB) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Investors 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 yield of 4.29%. The ex-dividend date of this dividend is Tuesday, May 7th.

Western New England Bancorp has raised its dividend payment by an average of 11.9% annually over the last three years and has increased 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 1.1 %

Shares of NASDAQ WNEB opened at $6.52 on Thursday. The stock has a market cap of $141.55 million, a P/E ratio of 10.87 and a beta of 0.61. The firm has a 50 day moving average price of $7.57 and a 200 day moving average price of $7.88. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.95 and a current ratio of 0.95. Western New England Bancorp has a 52-week low of $5.58 and a 52-week high of $9.25.

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

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reaffirmed a “neutral” rating and issued a $7.50 price target (down previously from $9.00) on shares of Western New England Bancorp in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.50.

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.