Western New England Bancorp (WNEB) to Issue Quarterly Dividend of $0.07 on August 26th

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

Western New England Bancorp has increased its dividend by an average of 0.1%annually 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. Research 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 Price Performance

Western New England Bancorp stock opened at $13.72 on Monday. The stock has a market capitalization of $276.05 million, a price-to-earnings ratio of 16.33 and a beta of 0.76. Western New England Bancorp has a 52-week low of $10.78 and a 52-week high of $15.01. The stock’s 50 day moving average price is $13.90 and its two-hundred day moving average price is $13.57. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.93 and a current ratio of 0.93.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.06). Western New England Bancorp had a net margin of 12.43% and a return on equity of 6.80%. The company had revenue of $27.11 million during the quarter, compared to the consensus estimate of $22.74 million. On average, equities analysts predict that Western New England Bancorp will post 0.94 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Zacks Research downgraded shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Seaport Research Partners lowered Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 29th. Piper Sandler upped their price target on Western New England Bancorp from $15.00 to $15.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Western New England Bancorp in a report on Friday. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Western New England Bancorp presently has a consensus rating of “Hold” and a consensus price target of $15.50.

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.