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

Western New England Bancorp, Inc. (NASDAQ:WNEB) declared a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Wednesday, February 12th.

Western New England Bancorp has raised its dividend payment by an average of 11.9% annually over the last three years. Western New England Bancorp has a payout ratio of 36.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Western New England Bancorp to earn $0.69 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 40.6%.

Western New England Bancorp Stock Performance

NASDAQ:WNEB opened at $9.41 on Monday. The stock’s 50-day moving average is $9.21 and its 200-day moving average is $8.82. The stock has a market cap of $197.80 million, a P/E ratio of 16.80 and a beta of 0.69. Western New England Bancorp has a 1-year low of $6.00 and a 1-year high of $10.08. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62.

Western New England Bancorp (NASDAQ:WNEB) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.04. Western New England Bancorp had a return on equity of 4.91% and a net margin of 9.51%. During the same quarter last year, the company posted $0.12 earnings per share. Equities research analysts anticipate that Western New England Bancorp will post 0.57 earnings per share for the current year.

Insider Activity at Western New England Bancorp

In related 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 value of $45,900.00. Following the sale, the senior vice president now owns 16,020 shares of the company’s stock, valued at approximately $147,063.60. The trade was a 23.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Seaport Res Ptn upgraded shares of Western New England Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th.

About Western New England Bancorp

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.