Western New England Bancorp, Inc. (NASDAQ:WNEB – Get Free Report) announced a quarterly dividend on Wednesday, October 23rd, Zacks reports. Shareholders of record on Thursday, November 7th will be paid a dividend of 0.07 per share by the financial services provider on Thursday, November 21st. This represents a $0.28 annualized dividend and a yield of 3.21%. The ex-dividend date is Thursday, November 7th.
Western New England Bancorp has increased its dividend payment by an average of 11.9% annually over the last three years. Western New England Bancorp has a payout ratio of 47.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Western New England Bancorp to earn $0.59 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 47.5%.
Western New England Bancorp Stock Performance
Shares of NASDAQ:WNEB opened at $8.71 on Friday. Western New England Bancorp has a 12-month low of $6.00 and a 12-month high of $9.25. The company’s 50 day moving average price is $8.68 and its two-hundred day moving average price is $7.55. The firm has a market cap of $188.38 million, a PE ratio of 14.52 and a beta of 0.69. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.63.
Analysts Set New Price Targets
WNEB has been the subject of a number of recent analyst reports. Janney Montgomery Scott downgraded Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Seaport Res Ptn cut shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Piper Sandler increased their price objective on shares of Western New England Bancorp from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat, Western New England Bancorp has an average rating of “Hold” and an average target price of $8.00.
View Our Latest Analysis on WNEB
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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