Western New England Bancorp (NASDAQ:WNEB) Announces Earnings Results

Western New England Bancorp (NASDAQ:WNEB) posted its earnings results on Wednesday. The financial services provider reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01), Yahoo Finance reports. The company had revenue of $30.98 million for the quarter, compared to analysts’ expectations of $17.39 million. Western New England Bancorp had a return on equity of 5.73% and a net margin of 11.33%.

Western New England Bancorp Stock Performance

Shares of NASDAQ WNEB traded down $0.02 during mid-day trading on Friday, hitting $8.69. The stock had a trading volume of 12,353 shares, compared to its average volume of 38,665. 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 company has a 50 day moving average of $8.68 and a two-hundred day moving average of $7.55. Western New England Bancorp has a twelve month low of $6.00 and a twelve month high of $9.25. The firm has a market cap of $187.95 million, a PE ratio of 14.52 and a beta of 0.69.

Western New England Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Thursday, November 7th. Western New England Bancorp’s payout ratio is 46.67%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Piper Sandler upped their target price on Western New England Bancorp from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Janney Montgomery Scott lowered Western New England Bancorp from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Finally, Seaport Res Ptn lowered Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $8.00.

Western New England Bancorp Company Profile

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.