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

Western New England Bancorp (NASDAQ:WNEB) declared a quarterly dividend on Tuesday, July 28th. Stockholders of record on Wednesday, August 12th will be paid 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 of this dividend is Wednesday, August 12th.

Western New England Bancorp has increased its dividend by an average of 0.1%annually over the last three years. Western New England Bancorp has a payout ratio of 35.4% indicating that its dividend is sufficiently covered by earnings. 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 Up 1.8%

Shares of NASDAQ WNEB opened at $14.66 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.37. Western New England Bancorp has a 52 week low of $10.25 and a 52 week high of $15.01. The firm’s fifty day moving average is $13.90 and its 200 day moving average is $13.54. The company has a market cap of $294.96 million, a price-to-earnings ratio of 16.47 and a beta of 0.75.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). The firm had revenue of $22.13 million for the quarter, compared to the consensus estimate of $22.74 million. Western New England Bancorp had a net margin of 13.27% and a return on equity of 7.25%. On average, equities research analysts expect that Western New England Bancorp will post 1 earnings per share for the current year.

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.