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

Western New England Bancorp (NASDAQ:WNEB) declared a quarterly dividend on Tuesday, October 27th. Stockholders of record on Wednesday, November 11th will be given a dividend of $0.07 per share by the financial services provider on Wednesday, November 25th. This represents a $0.28 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, November 10th.

Western New England Bancorp has raised its dividend by an average of 0.1% per year over the last three years. Western New England Bancorp has a payout ratio of 35.4% meaning 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 Down 2.6%

Shares of NASDAQ:WNEB opened at $13.45 on Wednesday. Western New England Bancorp has a 1 year low of $11.08 and a 1 year high of $15.01. The stock’s fifty day moving average price is $13.74 and its 200-day moving average price is $13.60.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings data on Tuesday, October 27th. The financial services provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.26 by $0.06. The business had revenue of $23.90 million during the quarter, compared to the consensus estimate of $23.40 million. On average, analysts forecast that Western New England Bancorp will post 0.94 EPS for the current year.

Insider Buying and Selling at Western New England Bancorp

In other Western New England Bancorp news, Director Philip Smith sold 3,300 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $13.88, for a total value of $45,804.00. Following the sale, the director owned 5,800 shares in the company, valued at $80,504. This trade represents a 36.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.56% of the company’s stock.

Institutional Investors Weigh In On Western New England Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WNEB. Bank of America Corp DE raised its stake in shares of Western New England Bancorp by 3.2% during the first quarter. Bank of America Corp DE now owns 61,268 shares of the financial services provider’s stock valued at $792,000 after acquiring an additional 1,884 shares in the last quarter. Sound Income Strategies LLC purchased a new position in Western New England Bancorp during the 1st quarter valued at about $40,000. Empowered Funds LLC raised its holdings in shares of Western New England Bancorp by 10.0% in the 1st quarter. Empowered Funds LLC now owns 123,791 shares of the financial services provider’s stock valued at $1,601,000 after purchasing an additional 11,291 shares in the last quarter. Odyssean LLC bought a new stake in shares of Western New England Bancorp in the 2nd quarter valued at about $177,000. Finally, Vise Technologies Inc. bought a new position in shares of Western New England Bancorp during the second quarter valued at approximately $215,000. Institutional investors own 67.95% of the company’s stock.

Western New England Bancorp Company Profile

Western New England Bancorp, Inc is the bank holding company for Westfield Bank, a community bank headquartered in Westfield, Massachusetts. The company provides banking and financial services to individuals, families, businesses, nonprofit organizations and municipalities.

Westfield Bank offers deposit products, residential and commercial real estate lending, commercial and industrial loans, consumer loans, home equity financing and other credit services. Its services also include online and mobile banking, cash management, electronic payments and wealth management solutions.

Founded in 1853, Westfield Bank has a long history of serving communities in western Massachusetts and northern Connecticut.