Western New England Bancorp, Inc. (WNEB) to Issue Quarterly Dividend of $0.07 on February 26th

Western New England Bancorp, Inc. (NASDAQ:WNEB) announced a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Stockholders of record on Wednesday, February 12th will be given a dividend of 0.07 per share by the financial services provider on Wednesday, February 26th. This represents a $0.28 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Wednesday, February 12th.

Western New England Bancorp has raised its dividend by an average of 11.9% annually over the last three years. Western New England Bancorp has a dividend payout ratio of 36.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Western New England Bancorp to earn $0.69 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 40.6%.

Western New England Bancorp Price Performance

NASDAQ:WNEB opened at $9.41 on Monday. The firm has a market cap of $197.80 million, a PE ratio of 16.80 and a beta of 0.69. Western New England Bancorp has a 12 month low of $6.00 and a 12 month high of $10.08. The company’s 50-day moving average price is $9.21 and its two-hundred day moving average price is $8.82. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.62.

Western New England Bancorp (NASDAQ:WNEB) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. Western New England Bancorp had a net margin of 9.51% and a return on equity of 4.91%. During the same quarter last year, the business earned $0.12 EPS. On average, equities analysts anticipate that Western New England Bancorp will post 0.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Seaport Res Ptn raised Western New England Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th.

Insiders Place Their Bets

In related news, SVP Darlene M. Libiszewski sold 5,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $9.18, for a total value of $45,900.00. Following the completion of the transaction, the senior vice president now owns 16,020 shares of the company’s stock, valued at approximately $147,063.60. This trade represents a 23.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.80% of the company’s stock.

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.