Western New England Bancorp, Inc. (NASDAQ:WNEB – Get Free Report) 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.
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.
View Our Latest Research Report on Western New England Bancorp
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.
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