Western New England Bancorp, Inc. (NASDAQ:WNEB – Get Free Report) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Investors of record on Wednesday, May 8th will be given a dividend of 0.07 per share by the financial services provider on Wednesday, May 22nd. This represents a $0.28 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date is Tuesday, May 7th.
Western New England Bancorp has increased its dividend by an average of 11.9% annually over the last three years and has raised its dividend every year for the last 2 years. Western New England Bancorp has a dividend payout ratio of 40.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Western New England Bancorp to earn $0.72 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 38.9%.
Western New England Bancorp Price Performance
WNEB opened at $6.52 on Thursday. The business has a fifty day moving average of $7.57 and a 200 day moving average of $7.88. Western New England Bancorp has a 52-week low of $5.58 and a 52-week high of $9.25. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.59. The stock has a market cap of $141.55 million, a P/E ratio of 10.87 and a beta of 0.61.
Analyst Ratings Changes
Separately, Piper Sandler reiterated a “neutral” rating and issued a $7.50 target price (down from $9.00) on shares of Western New England Bancorp in a report on Wednesday. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $7.50.
View Our Latest Stock Analysis on WNEB
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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