Western New England Bancorp (NASDAQ:WNEB) Plans Quarterly Dividend of $0.07

Western New England Bancorp (NASDAQ:WNEB) announced a quarterly dividend on Tuesday, January 27th. Investors of record on Wednesday, February 11th will be paid a dividend of 0.07 per share by the financial services provider on Wednesday, February 25th. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, February 11th.

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% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Western New England Bancorp to earn $0.76 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 36.8%.

Western New England Bancorp Stock Performance

Western New England Bancorp stock traded up $0.34 during mid-day trading on Wednesday, reaching $13.16. 68,364 shares of the stock traded hands, compared to its average volume of 43,266. Western New England Bancorp has a 12-month low of $7.63 and a 12-month high of $13.95. The business’s 50-day moving average is $12.72 and its 200-day moving average is $11.97. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $269.55 million, a PE ratio of 19.93 and a beta of 0.83.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. Western New England Bancorp had a return on equity of 5.58% and a net margin of 10.33%.The business had revenue of $22.01 million during the quarter, compared to the consensus estimate of $18.62 million. As a group, sell-side analysts predict that Western New England Bancorp will post 0.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Western New England Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC increased its holdings in Western New England Bancorp by 141.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 17,672 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 10,358 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Western New England Bancorp by 36.5% during the first quarter. Goldman Sachs Group Inc. now owns 92,006 shares of the financial services provider’s stock valued at $856,000 after purchasing an additional 24,597 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Western New England Bancorp by 7.0% in the first quarter. Empowered Funds LLC now owns 89,478 shares of the financial services provider’s stock worth $832,000 after purchasing an additional 5,883 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Western New England Bancorp by 190.1% in the first quarter. Jane Street Group LLC now owns 80,657 shares of the financial services provider’s stock worth $750,000 after buying an additional 52,858 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its stake in Western New England Bancorp by 332.2% during the second quarter. Ritholtz Wealth Management now owns 44,586 shares of the financial services provider’s stock valued at $412,000 after buying an additional 34,270 shares during the last quarter. Institutional investors own 67.95% of the company’s stock.

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.