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

Western New England Bancorp, Inc. (NASDAQ:WNEB - Get Free Report) announced a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Investors of record on Wednesday, February 12th will be given a dividend of 0.07 per share by the financial services provider on Wednesday, February 26th. This represents a $0.28 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Wednesday, February 12th.

Western New England Bancorp has increased its dividend by an average of 11.9% annually over the last three years. Western New England Bancorp has a dividend payout ratio of 43.1% 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 Stock Up 4.7 %

Western New England Bancorp stock traded up $0.42 during midday trading on Wednesday, hitting $9.30. 117,982 shares of the stock were exchanged, compared to its average volume of 48,628. Western New England Bancorp has a 1 year low of $6.00 and a 1 year high of $10.08. The firm has a market cap of $195.47 million, a P/E ratio of 17.88 and a beta of 0.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.95 and a quick ratio of 0.95. The company has a 50 day moving average price of $9.20 and a two-hundred day moving average price of $8.76.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last released its earnings results on Tuesday, January 28th. The financial services provider reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.04. Western New England Bancorp had a net margin of 9.05% and a return on equity of 4.58%. During the same period in the prior year, the company posted $0.12 earnings per share. On average, sell-side analysts predict that Western New England Bancorp will post 0.52 earnings per share for the current fiscal year.

Insider Activity at Western New England Bancorp

In other news, SVP Darlene M. Libiszewski sold 5,000 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $9.18, for a total value of $45,900.00. Following the completion of the sale, the senior vice president now directly owns 16,020 shares of the company's stock, valued at approximately $147,063.60. This represents a 23.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.80% of the company's stock.

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.

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