Western New England Bancorp, Inc. Declares Quarterly Dividend of $0.06 (NASDAQ:WNEB)

Western New England Bancorp, Inc. (NASDAQ:WNEBGet Rating) declared a quarterly dividend on Tuesday, April 26th, Zacks reports. Stockholders of record on Wednesday, May 11th will be given a dividend of 0.06 per share by the financial services provider on Wednesday, May 25th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Tuesday, May 10th.

Western New England Bancorp has increased its dividend payment by an average of 7.7% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Western New England Bancorp has a dividend payout ratio of 25.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Western New England Bancorp to earn $0.94 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 25.5%.

Shares of Western New England Bancorp stock opened at $8.63 on Thursday. The business has a 50-day simple moving average of $8.94 and a 200 day simple moving average of $9.03. Western New England Bancorp has a one year low of $7.72 and a one year high of $9.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $196.78 million, a price-to-earnings ratio of 8.38 and a beta of 0.36.

Western New England Bancorp (NASDAQ:WNEBGet Rating) last issued its earnings results on Tuesday, April 26th. The financial services provider reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. Western New England Bancorp had a return on equity of 10.67% and a net margin of 25.65%. On average, sell-side analysts expect that Western New England Bancorp will post 0.89 EPS for the current year.

In related news, CFO Guida R. Sajdak sold 5,420 shares of the firm’s stock in a transaction dated Monday, February 7th. The shares were sold at an average price of $9.20, for a total transaction of $49,864.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Guida R. Sajdak sold 4,281 shares of the company’s stock in a transaction dated Thursday, February 3rd. The stock was sold at an average price of $9.20, for a total transaction of $39,385.20. The disclosure for this sale can be found here. Insiders have sold 22,769 shares of company stock valued at $209,475 in the last quarter. 4.75% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of WNEB. Morgan Stanley boosted its position in Western New England Bancorp by 220.7% in the second quarter. Morgan Stanley now owns 69,941 shares of the financial services provider’s stock worth $570,000 after purchasing an additional 48,129 shares during the last quarter. Citadel Advisors LLC increased its position in shares of Western New England Bancorp by 157.6% during the 2nd quarter. Citadel Advisors LLC now owns 75,033 shares of the financial services provider’s stock valued at $612,000 after purchasing an additional 45,904 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Western New England Bancorp during the 3rd quarter worth $254,000. Susquehanna International Group LLP boosted its holdings in shares of Western New England Bancorp by 35.3% in the 4th quarter. Susquehanna International Group LLP now owns 64,723 shares of the financial services provider’s stock worth $567,000 after buying an additional 16,885 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Western New England Bancorp during the fourth quarter valued at about $93,000. 52.92% of the stock is owned by institutional investors.

A number of research firms have weighed in on WNEB. StockNews.com initiated coverage on shares of Western New England Bancorp in a research note on Wednesday. They issued a “buy” rating on the stock. Zacks Investment Research cut shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 30th.

Western New England Bancorp Company Profile (Get Rating)

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 checking, business and municipal savings, money market and sweep, individual retirement, and other savings accounts; time deposits; certificates of deposit; and interest on lawyers trust accounts.

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Dividend History for Western New England Bancorp (NASDAQ:WNEB)

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