Western New England Bancorp, Inc. (NASDAQ:WNEB - Free Report) - Research analysts at Seaport Res Ptn increased their Q4 2024 earnings per share (EPS) estimates for shares of Western New England Bancorp in a research report issued to clients and investors on Thursday, October 24th. Seaport Res Ptn analyst L. Hunsicker now forecasts that the financial services provider will post earnings of $0.11 per share for the quarter, up from their prior estimate of $0.10. Seaport Res Ptn currently has a "Hold" rating on the stock. The consensus estimate for Western New England Bancorp's current full-year earnings is $0.51 per share.
Western New England Bancorp (NASDAQ:WNEB - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). Western New England Bancorp had a return on equity of 4.60% and a net margin of 9.05%. The business had revenue of $30.98 million for the quarter, compared to the consensus estimate of $17.39 million.
Several other brokerages have also recently weighed in on WNEB. Janney Montgomery Scott cut Western New England Bancorp from a "buy" rating to a "neutral" rating in a report on Thursday, July 25th. Piper Sandler boosted their price target on Western New England Bancorp from $7.00 to $8.50 and gave the company a "neutral" rating in a research note on Wednesday, July 24th.
Get Our Latest Stock Analysis on Western New England Bancorp
Western New England Bancorp Price Performance
Shares of WNEB stock traded up $0.02 during trading on Monday, hitting $8.70. The company had a trading volume of 31,158 shares, compared to its average volume of 38,813. The firm has a market capitalization of $188.16 million, a P/E ratio of 14.53 and a beta of 0.69. Western New England Bancorp has a one year low of $6.00 and a one year high of $9.25. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.95 and a current ratio of 0.95. The stock's 50-day moving average price is $8.68 and its 200 day moving average price is $7.57.
Western New England Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders 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 yield of 3.22%. The ex-dividend date is Thursday, November 7th. Western New England Bancorp's payout ratio is presently 46.67%.
Hedge Funds Weigh In On Western New England Bancorp
Several hedge funds and other institutional investors have recently modified their holdings of WNEB. Assenagon Asset Management S.A. boosted its stake in Western New England Bancorp by 48.8% in the third quarter. Assenagon Asset Management S.A. now owns 49,236 shares of the financial services provider's stock valued at $419,000 after buying an additional 16,158 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Western New England Bancorp by 2.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,200,362 shares of the financial services provider's stock valued at $8,258,000 after purchasing an additional 32,700 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Western New England Bancorp by 16.6% during the 2nd quarter. Acadian Asset Management LLC now owns 401,909 shares of the financial services provider's stock valued at $2,762,000 after purchasing an additional 57,099 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Western New England Bancorp during the 2nd quarter valued at approximately $170,000. Finally, Legato Capital Management LLC increased its position in Western New England Bancorp by 39.0% during the 2nd quarter. Legato Capital Management LLC now owns 21,441 shares of the financial services provider's stock worth $148,000 after purchasing an additional 6,021 shares in the last quarter. Institutional investors own 67.95% of the company's stock.
Western New England Bancorp Company Profile
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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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