Western New England Bancorp, Inc. (NASDAQ:WNEB – Get Free Report) declared a quarterly dividend on Tuesday, July 23rd, Zacks reports. Shareholders of record on Wednesday, August 7th will be paid a dividend of 0.07 per share by the financial services provider on Wednesday, August 21st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Wednesday, August 7th.
Western New England Bancorp has raised its dividend by an average of 11.9% per year over the last three years. Western New England Bancorp has a payout ratio of 44.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Western New England Bancorp to earn $0.63 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 44.4%.
Western New England Bancorp Stock Up 0.5 %
Shares of NASDAQ WNEB opened at $8.49 on Thursday. The stock has a market cap of $183.64 million, a PE ratio of 14.15 and a beta of 0.69. The business has a fifty day moving average of $6.90 and a two-hundred day moving average of $7.42. Western New England Bancorp has a 52-week low of $6.00 and a 52-week high of $9.25. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.95 and a current ratio of 0.95.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on WNEB. Piper Sandler raised their target price on Western New England Bancorp from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday. Janney Montgomery Scott lowered Western New England Bancorp from a “buy” rating to a “neutral” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.00.
Read Our Latest Research Report on WNEB
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.
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