Western New England Bancorp, Inc. (NASDAQ:WNEB - Free Report) - Equities researchers at Seaport Res Ptn upped their FY2024 earnings per share (EPS) estimates for Western New England Bancorp in a research note issued to investors on Thursday, October 24th. Seaport Res Ptn analyst L. Hunsicker now anticipates that the financial services provider will post earnings of $0.51 per share for the year, up from their previous forecast of $0.50. Seaport Res Ptn has a "Hold" rating on the stock. The consensus estimate for Western New England Bancorp's current full-year earnings is $0.52 per share. Seaport Res Ptn also issued estimates for Western New England Bancorp's FY2025 earnings at $0.57 EPS.
Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). Western New England Bancorp had a return on equity of 5.73% and a net margin of 11.33%. The firm had revenue of $30.98 million for the quarter, compared to analysts' expectations of $17.39 million.
A number of other research analysts have also recently commented on the company. Janney Montgomery Scott cut Western New England Bancorp from a "buy" rating to a "neutral" rating in a research note on Thursday, July 25th. Piper Sandler upped their price objective on Western New England Bancorp from $7.00 to $8.50 and gave the company a "neutral" rating in a research report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $8.00.
Check Out Our Latest Stock Analysis on Western New England Bancorp
Western New England Bancorp Trading Down 0.3 %
NASDAQ:WNEB traded down $0.03 during mid-day trading on Friday, hitting $8.68. 50,730 shares of the stock traded hands, compared to its average volume of 38,850. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.63. Western New England Bancorp has a 52 week low of $6.00 and a 52 week high of $9.25. The stock has a market capitalization of $187.73 million, a price-to-earnings ratio of 14.47 and a beta of 0.69. The firm's 50 day moving average is $8.68 and its two-hundred day moving average is $7.56.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC bought a new position in shares of Western New England Bancorp during the 1st quarter worth $85,000. Legato Capital Management LLC raised its holdings in shares of Western New England Bancorp by 39.0% in the 2nd quarter. Legato Capital Management LLC now owns 21,441 shares of the financial services provider's stock valued at $148,000 after purchasing an additional 6,021 shares in the last quarter. Panagora Asset Management Inc. purchased a new stake in shares of Western New England Bancorp in the 2nd quarter worth approximately $170,000. Quadrature Capital Ltd boosted its stake in shares of Western New England Bancorp by 50.9% during the first quarter. Quadrature Capital Ltd now owns 22,173 shares of the financial services provider's stock valued at $170,000 after purchasing an additional 7,482 shares in the last quarter. Finally, ST Germain D J Co. Inc. increased its holdings in Western New England Bancorp by 45.2% during the second quarter. ST Germain D J Co. Inc. now owns 32,130 shares of the financial services provider's stock valued at $221,000 after buying an additional 10,006 shares during the period. Institutional investors own 67.95% of the company's stock.
Western New England Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Thursday, November 7th. Western New England Bancorp's dividend payout ratio is presently 46.67%.
About Western New England Bancorp
(
Get Free Report)
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.
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