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

Western New England Bancorp (NASDAQ:WNEB) announced a quarterly dividend on Tuesday, July 28th. Shareholders of record on Wednesday, August 12th will be given a dividend of 0.07 per share by the financial services provider on Wednesday, August 26th. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, August 12th.

Western New England Bancorp has increased its dividend by an average of 0.1%per year 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 Stock Performance

NASDAQ:WNEB opened at $14.66 on Wednesday. The stock has a market cap of $294.96 million, a P/E ratio of 16.47 and a beta of 0.75. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.37. The business’s 50-day moving average price is $13.90 and its two-hundred day moving average price is $13.54. Western New England Bancorp has a twelve month low of $10.25 and a twelve month high of $15.01.

Western New England Bancorp (NASDAQ:WNEB) last issued its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.06). The business had revenue of $22.13 million for the quarter, compared to analysts’ expectations of $22.74 million. Western New England Bancorp had a return on equity of 7.25% and a net margin of 13.27%. As a group, equities analysts predict that Western New England Bancorp will post 1 EPS for the current fiscal year.

Western New England Bancorp Company Profile

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.