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

Western New England Bancorp, Inc. (NASDAQ:WNEB - Get Free Report) declared 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 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Thursday, November 7th.

Western New England Bancorp has increased its dividend payment by an average of 11.9% annually 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 Down 0.3 %

Shares of NASDAQ:WNEB traded down $0.03 during midday trading on Friday, reaching $8.68. 50,730 shares of the company were exchanged, compared to its average volume of 38,850. The firm has a market cap of $187.73 million, a PE ratio of 14.47 and a beta of 0.69. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.63. Western New England Bancorp has a fifty-two week low of $6.00 and a fifty-two week high of $9.25. The stock has a fifty day simple moving average of $8.68 and a two-hundred day simple moving average of $7.56.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). The firm had revenue of $30.98 million for the quarter, compared to the consensus estimate of $17.39 million. Western New England Bancorp had a return on equity of 5.73% and a net margin of 11.33%. As a group, sell-side analysts forecast that Western New England Bancorp will post 0.52 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WNEB shares. Janney Montgomery Scott downgraded Western New England Bancorp from a "buy" rating to a "neutral" rating in a research note on Thursday, July 25th. 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. Finally, Seaport Res Ptn lowered shares of Western New England Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target 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.