Western New England Bancorp, Inc. (WNEB) To Go Ex-Dividend on November 7th

Western New England Bancorp, Inc. (NASDAQ:WNEB) declared a quarterly dividend on Wednesday, October 23rd, Zacks reports. Investors 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 dividend 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 Trading Up 0.3 %

WNEB stock opened at $8.71 on Friday. Western New England Bancorp has a 12 month low of $6.00 and a 12 month high of $9.25. The firm’s 50-day moving average is $8.68 and its 200 day moving average is $7.55. The company has a market capitalization of $188.38 million, a PE ratio of 14.52 and a beta of 0.69. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.95 and a quick ratio of 0.95.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). Western New England Bancorp had a return on equity of 5.73% and a net margin of 11.33%. On average, research analysts anticipate that Western New England Bancorp will post 0.52 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on WNEB shares. 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 Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Piper Sandler lifted their target price on shares of Western New England Bancorp from $7.00 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $8.00.

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.