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

Western New England Bancorp (NASDAQ:WNEB) declared a quarterly dividend on Tuesday, July 28th. Stockholders of record on Wednesday, August 12th will be given a dividend of 0.07 per share by the financial services provider on Wednesday, August 26th. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Wednesday, August 12th.

Western New England Bancorp has increased its dividend payment by an average of 0.1%per year over the last three years. Western New England Bancorp has a payout ratio of 35.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Western New England Bancorp to earn $1.12 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 25.0%.

Western New England Bancorp Stock Performance

NASDAQ:WNEB opened at $14.10 on Wednesday. The stock has a 50 day simple moving average of $13.90 and a 200 day simple moving average of $13.54. The stock has a market cap of $283.75 million, a P/E ratio of 15.70 and a beta of 0.75. Western New England Bancorp has a 1-year low of $10.25 and a 1-year high of $15.01. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.37.

Western New England Bancorp (NASDAQ:WNEB) last posted its earnings results on Tuesday, July 28th. The financial services provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). Western New England Bancorp had a return on equity of 7.25% and a net margin of 13.27%.The firm had revenue of $22.13 million for the quarter, compared to analyst estimates of $22.74 million. Research analysts anticipate that Western New England Bancorp will post 1 earnings per share for the current year.

About Western New England Bancorp

Western New England Bancorp is a bank holding company headquartered in Westfield, Massachusetts. Through its wholly owned subsidiary, Westfield Bank, the company provides a full suite of commercial and consumer banking services. Its operations focus on serving small to mid-sized businesses, professional practices, and individual customers, with a strategy centered on relationship-driven banking and community involvement.

The company’s core offerings include deposit products such as checking, savings and money market accounts, along with business cash-management solutions.