Western New England Bancorp (WNEB) to Issue Quarterly Dividend of $0.07 on May 27th

Western New England Bancorp (NASDAQ:WNEBGet Free Report) announced a quarterly dividend on Tuesday, April 28th. Shareholders of record on Wednesday, May 13th will be given a dividend of 0.07 per share by the financial services provider on Wednesday, May 27th. This represents a c) dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, May 13th.

Western New England Bancorp has raised its dividend by an average of 0.1%annually over the last three years. Western New England Bancorp has a dividend 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 Price Performance

WNEB stock opened at $13.97 on Monday. The company has a market cap of $283.02 million, a price-to-earnings ratio of 15.70 and a beta of 0.79. The company has a 50 day moving average of $13.26 and a two-hundred day moving average of $12.88. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.37. Western New England Bancorp has a 12-month low of $8.52 and a 12-month high of $14.52.

Western New England Bancorp (NASDAQ:WNEBGet Free Report) last released its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.03. Western New England Bancorp had a net margin of 13.27% and a return on equity of 7.28%. The business had revenue of $21.82 million during the quarter, compared to analyst estimates of $21.96 million. On average, equities analysts anticipate that Western New England Bancorp will post 1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on WNEB shares. Weiss Ratings upgraded shares of Western New England Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, March 12th. Hovde Group upgraded shares of Western New England Bancorp to a “hold” rating in a report on Thursday, April 2nd. Piper Sandler restated an “overweight” rating and set a $15.00 price objective on shares of Western New England Bancorp in a report on Wednesday, April 29th. Zacks Research upgraded shares of Western New England Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. Finally, Seaport Research Partners boosted their price objective on shares of Western New England Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Western New England Bancorp currently has an average rating of “Buy” and an average target price of $15.00.

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Western New England Bancorp Company Profile

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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.

See Also

Dividend History for Western New England Bancorp (NASDAQ:WNEB)

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