Western New England Bancorp, Inc. Plans Quarterly Dividend of $0.07 (NASDAQ:WNEB)

Western New England Bancorp, Inc. (NASDAQ:WNEB) announced a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Shareholders 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 yield of 3.01%. The ex-dividend date of this dividend is Wednesday, February 12th.

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 43.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Western New England Bancorp to earn $0.57 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 49.1%.

Western New England Bancorp Trading Up 4.7 %

WNEB opened at $9.30 on Thursday. 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 has a 52 week low of $6.00 and a 52 week high of $10.08. The stock has a market cap of $195.49 million, a PE ratio of 17.88 and a beta of 0.70. The business has a 50 day moving average of $9.20 and a 200-day moving average of $8.77.

Western New England Bancorp (NASDAQ:WNEB) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04. Western New England Bancorp had a return on equity of 4.58% and a net margin of 9.05%. During the same quarter last year, the company earned $0.12 earnings per share. Equities research analysts predict that Western New England Bancorp will post 0.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Seaport Res Ptn upgraded shares of Western New England Bancorp from a “hold” rating to a “strong-buy” rating in a report on Wednesday.

Insider Transactions at Western New England Bancorp

In related news, SVP Darlene M. Libiszewski sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $9.18, for a total value of $45,900.00. Following the transaction, the senior vice president now directly owns 16,020 shares of the company’s stock, valued at approximately $147,063.60. This represents a 23.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.80% of the stock is owned by insiders.

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.