Seaport Res Ptn Equities Analysts Reduce Earnings Estimates for Western New England Bancorp, Inc. (NASDAQ:WNEB)

Western New England Bancorp, Inc. (NASDAQ:WNEB) – Analysts at Seaport Res Ptn dropped their Q2 2024 earnings per share estimates for shares of Western New England Bancorp in a research note issued to investors on Thursday, April 25th. Seaport Res Ptn analyst L. Hunsicker now forecasts that the financial services provider will post earnings per share of $0.11 for the quarter, down from their prior estimate of $0.13. The consensus estimate for Western New England Bancorp’s current full-year earnings is $0.54 per share.

Separately, Piper Sandler reissued a “neutral” rating and set a $7.50 price target (down from $9.00) on shares of Western New England Bancorp in a research report on Wednesday. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.50.

Western New England Bancorp Stock Up 2.1 %

WNEB opened at $6.66 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $144.59 million, a price-to-earnings ratio of 11.10 and a beta of 0.61. The business has a 50-day moving average of $7.54 and a two-hundred day moving average of $7.87. Western New England Bancorp has a 12 month low of $5.58 and a 12 month high of $9.25.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.02). The business had revenue of $18.89 million during the quarter, compared to analysts’ expectations of $18.67 million. Western New England Bancorp had a net margin of 11.10% and a return on equity of 5.44%.

Institutional Investors Weigh In On Western New England Bancorp

Institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in shares of Western New England Bancorp by 808.9% in the 4th quarter. International Assets Investment Management LLC now owns 5,017 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 4,465 shares during the last quarter. Essex Financial Services Inc. increased its holdings in shares of Western New England Bancorp by 14.2% in the 3rd quarter. Essex Financial Services Inc. now owns 15,513 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 1,929 shares during the last quarter. Ritholtz Wealth Management increased its holdings in shares of Western New England Bancorp by 27.4% in the 3rd quarter. Ritholtz Wealth Management now owns 22,122 shares of the financial services provider’s stock valued at $144,000 after acquiring an additional 4,757 shares during the last quarter. ST Germain D J Co. Inc. increased its holdings in shares of Western New England Bancorp by 19.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 22,124 shares of the financial services provider’s stock valued at $170,000 after acquiring an additional 3,585 shares during the last quarter. Finally, Raymond James & Associates grew its stake in Western New England Bancorp by 10.3% during the 3rd quarter. Raymond James & Associates now owns 22,280 shares of the financial services provider’s stock worth $145,000 after buying an additional 2,081 shares during the last quarter. 67.95% of the stock is currently owned by institutional investors.

Western New England Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.20%. Western New England Bancorp’s dividend payout ratio (DPR) is 46.67%.

About Western New England Bancorp

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.