Departing from my previous answer from the rules perspective, Jeremy Crawford has answered this question in a [tweet][1]:

> **Airatome118 @Airatome**

> @JeremyECrawford Can Warding Bond have multiple active casts if mats are fulfilled? 3 SETS of rings divided out = 3 ongoing separate spells?

> **Jeremy Crawford @JeremyECrawford**

> You can maintain warding bond on multiple creatures at once if you have a pair of the rings for each casting. #DnD


  [1]: https://twitter.com/JeremyECrawford/status/727306599576952832