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

Western New England Bancorp, Inc. (NASDAQ:WNEB) declared a quarterly dividend on Tuesday, January 28th,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 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Wednesday, February 12th.

Western New England Bancorp has raised its dividend payment by an average of 11.9% annually over the last three years. Western New England Bancorp has a dividend payout ratio of 43.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 1.1 %

WNEB traded up $0.10 on Thursday, reaching $9.40. The company’s stock had a trading volume of 60,934 shares, compared to its average volume of 49,865. Western New England Bancorp has a 1 year low of $6.00 and a 1 year high of $10.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $197.59 million, a price-to-earnings ratio of 18.08 and a beta of 0.70. The business’s 50 day moving average is $9.20 and its 200 day moving average is $8.77.

Western New England Bancorp (NASDAQ:WNEB) last released its earnings results on Tuesday, January 28th. The financial services provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates 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 in the prior year, the firm posted $0.12 EPS. As a group, research analysts forecast that Western New England Bancorp will post 0.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Western New England Bancorp

In other Western New England Bancorp news, SVP Darlene M. Libiszewski sold 5,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $9.18, for a total transaction of $45,900.00. Following the sale, the senior vice president now directly owns 16,020 shares in the company, valued at approximately $147,063.60. The trade was a 23.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.80% of the stock is currently owned by company 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.