Western New England Bancorp, Inc. (NASDAQ:WNEB – Get Free Report) announced a quarterly dividend on Wednesday, October 23rd, Zacks reports. Shareholders of record on Thursday, November 7th will be given a dividend of 0.07 per share by the financial services provider on Thursday, November 21st. This represents a $0.28 annualized dividend and a yield of 3.21%. The ex-dividend date is Thursday, November 7th.
Western New England Bancorp has raised its dividend by an average of 11.9% per year over the last three years. Western New England Bancorp has a payout ratio of 47.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Western New England Bancorp to earn $0.59 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 47.5%.
Western New England Bancorp Stock Performance
Shares of WNEB opened at $8.71 on Friday. The company has a market cap of $188.38 million, a PE ratio of 14.52 and a beta of 0.69. The firm has a 50-day moving average of $8.68 and a 200-day moving average of $7.55. Western New England Bancorp has a one year low of $6.00 and a one year high of $9.25. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.95 and a quick ratio of 0.95.
Analysts Set New Price Targets
WNEB has been the subject of several research analyst reports. Janney Montgomery Scott downgraded Western New England Bancorp from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Seaport Res Ptn cut shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Piper Sandler increased their price objective on shares of Western New England Bancorp from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.00.
Check Out Our Latest 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.
Further Reading
- Five stocks we like better than Western New England Bancorp
- What is the NASDAQ Stock Exchange?
- The Downtrend in UPS Stock Isn’t Over Yet
- High Flyers: 3 Natural Gas Stocks for March 2022
- Maximize Portfolio Income with These 3 Dividend ETFs
- How Can Retail Investors Trade the Toronto Stock Exchange (TSX)?
- Talen Energy: A Nuclear Power Stock That Can Keep Winning
Receive News & Ratings for Western New England Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western New England Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.