Western New England Bancorp, Inc. (NASDAQ:WNEB) Declares Quarterly Dividend of $0.07

Western New England Bancorp, Inc. (NASDAQ:WNEB) declared a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Investors of record on Wednesday, February 12th will be paid a dividend of 0.07 per share by the financial services provider on Wednesday, February 26th. This represents a $0.28 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Wednesday, February 12th.

Western New England Bancorp has increased its dividend payment by an average of 11.9% per year over the last three years. Western New England Bancorp has a payout ratio of 43.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Western New England Bancorp to earn $0.57 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 49.1%.

Western New England Bancorp Stock Performance

NASDAQ:WNEB opened at $9.30 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a 50-day simple moving average of $9.20 and a two-hundred day simple moving average of $8.77. The firm has a market capitalization of $195.49 million, a PE ratio of 17.88 and a beta of 0.70. Western New England Bancorp has a 52-week low of $6.00 and a 52-week high of $10.08.

Western New England Bancorp (NASDAQ:WNEB) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. Western New England Bancorp had a return on equity of 4.58% and a net margin of 9.05%. During the same quarter in the prior year, the firm posted $0.12 earnings per share. Analysts forecast that Western New England Bancorp will post 0.52 EPS for the current year.

Analysts Set New Price Targets

Separately, Seaport Res Ptn raised shares of Western New England Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday.

Insider Activity

In other news, SVP Darlene M. Libiszewski sold 5,000 shares of Western New England Bancorp stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $9.18, for a total transaction of $45,900.00. Following the sale, the senior vice president now owns 16,020 shares in the company, valued at $147,063.60. This trade represents a 23.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 5.80% of the company’s stock.

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.