Western New England Bancorp, Inc. (NASDAQ:WNEB – Get Free Report) announced a quarterly dividend on Tuesday, July 23rd, Zacks reports. Investors of record on Wednesday, August 7th will be given a dividend of 0.07 per share by the financial services provider on Wednesday, August 21st. This represents a $0.28 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Wednesday, August 7th.
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 44.4% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 0.5 %
WNEB opened at $8.49 on Thursday. Western New England Bancorp has a twelve month low of $6.00 and a twelve month high of $9.25. The company has a 50-day simple moving average of $6.90 and a 200 day simple moving average of $7.42. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $183.64 million, a price-to-earnings ratio of 14.15 and a beta of 0.69.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on WNEB. Piper Sandler increased their target price on shares of Western New England Bancorp from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday. Janney Montgomery Scott cut shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Western New England Bancorp presently has an average rating of “Hold” and a consensus price target of $8.00.
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.
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