Western New England Bancorp (NASDAQ:WNEB) Declares Quarterly Dividend of $0.07

Key Points

• Western New England Bancorp declared a quarterly dividend of $0.07 per share (annualized $0.28), with shareholders of record on May 13 and payment on May 27; the dividend yields about 2.0%.
• The company reported quarterly EPS of $0.24, beating estimates of $0.21, and carries a payout ratio of 35.4%—analysts forecast higher future EPS (about $1.08 next year), implying the dividend is comfortably covered.
• Shares opened at $14.18 (up ~1.5%), trading near their 52-week high of $14.52, with a market cap of roughly $287.3M and a P/E around 18.7.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) announced a quarterly dividend on Tuesday, April 28th. Shareholders of record on Wednesday, May 13th will be paid a dividend of 0.07 per share by the financial services provider on Wednesday, May 27th. This represents a c) dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, May 13th.

Western New England Bancorp has raised its dividend payment by an average of 0.1%annually over the last three years. Western New England Bancorp has a payout ratio of 35.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Western New England Bancorp to earn $1.08 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 25.9%.

Western New England Bancorp Trading Up 1.5%

Shares of WNEB stock opened at $14.18 on Wednesday. Western New England Bancorp has a 52-week low of $8.52 and a 52-week high of $14.52. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.93 and a current ratio of 0.93. The company has a 50-day simple moving average of $13.22 and a two-hundred day simple moving average of $12.78. The company has a market capitalization of $287.27 million, a price-to-earnings ratio of 18.66 and a beta of 0.76.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.03. Western New England Bancorp had a net margin of 11.64% and a return on equity of 6.31%. The business had revenue of $21.82 million during the quarter, compared to the consensus estimate of $21.91 million. Research analysts anticipate that Western New England Bancorp will post 0.95 EPS for the current fiscal year.

Western New England Bancorp Company Profile

Western New England Bancorp is a bank holding company headquartered in Westfield, Massachusetts. Through its wholly owned subsidiary, Westfield Bank, the company provides a full suite of commercial and consumer banking services. Its operations focus on serving small to mid-sized businesses, professional practices, and individual customers, with a strategy centered on relationship-driven banking and community involvement.

The company's core offerings include deposit products such as checking, savings and money market accounts, along with business cash-management solutions.

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