Western New England Bancorp, Inc. (WNEB) to Issue Quarterly Dividend of $0.07 on May 22nd

Western New England Bancorp, Inc. (NASDAQ:WNEB) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Investors of record on Wednesday, May 8th will be given 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 dividend yield of 4.27%. The ex-dividend date is Tuesday, May 7th.

Western New England Bancorp has increased its dividend payment by an average of 11.9% annually over the last three years and has increased its dividend every year for the last 2 years. Western New England Bancorp has a payout ratio of 40.0% indicating that its dividend is sufficiently covered by earnings. 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 Performance

Shares of NASDAQ:WNEB traded up $0.03 during mid-day trading on Thursday, reaching $6.55. The company had a trading volume of 14,984 shares, compared to its average volume of 40,763. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.59. The firm has a market cap of $142.20 million, a price-to-earnings ratio of 10.87 and a beta of 0.61. The company’s 50-day moving average price is $7.57 and its 200-day moving average price is $7.88. Western New England Bancorp has a one year low of $5.58 and a one year high of $9.25.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The company had revenue of $18.89 million during the quarter, compared to the consensus estimate of $18.67 million. Western New England Bancorp had a return on equity of 5.44% and a net margin of 11.10%. As a group, equities research analysts anticipate that Western New England Bancorp will post 0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

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 report on Wednesday. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average 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.