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

Western New England Bancorp (NASDAQ:WNEB) announced a quarterly dividend on Tuesday, July 28th. Stockholders 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) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, August 12th.

Western New England Bancorp has raised its dividend payment 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 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 Trading Down 11.8%

NASDAQ WNEB opened at $12.93 on Thursday. Western New England Bancorp has a 12 month low of $10.25 and a 12 month high of $15.01. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average of $13.89 and a 200-day moving average of $13.54. The company has a market cap of $260.15 million, a PE ratio of 15.39 and a beta of 0.75.

Western New England Bancorp (NASDAQ:WNEB) last issued its earnings results on Tuesday, July 28th. The financial services provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). The firm had revenue of $22.13 million for the quarter, compared to analyst estimates of $22.74 million. Western New England Bancorp had a return on equity of 6.80% and a net margin of 12.43%. On average, equities research analysts anticipate that Western New England Bancorp will post 1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WNEB. Piper Sandler lifted their price objective on shares of Western New England Bancorp from $15.00 to $15.50 and gave the company a “neutral” rating in a research report on Wednesday. Seaport Research Partners cut shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a report on Wednesday. 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. Weiss Ratings upgraded Western New England Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Finally, Hovde Group raised Western New England Bancorp to a “hold” rating in a research report on Thursday, April 2nd. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Western New England Bancorp currently has a consensus rating of “Hold” and an average 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.