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 lowered their Q2 2024 EPS estimates for Western New England Bancorp in a note issued to investors on Thursday, April 25th. Seaport Res Ptn analyst L. Hunsicker now anticipates that the financial services provider will earn $0.11 per share 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 reaffirmed a “neutral” rating and issued a $7.50 target price (down previously from $9.00) on shares of Western New England Bancorp in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.50.

Western New England Bancorp Trading Up 2.1 %

NASDAQ WNEB opened at $6.66 on Friday. The firm’s 50-day moving average is $7.54 and its two-hundred day moving average is $7.87. Western New England Bancorp has a 12 month low of $5.58 and a 12 month high of $9.25. 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 P/E ratio of 11.10 and a beta of 0.61.

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

Western New England Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be given a $0.07 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $0.28 dividend on an annualized basis and a yield of 4.20%. Western New England Bancorp’s payout ratio is currently 46.67%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Hennessy Advisors Inc. lifted its position in shares of Western New England Bancorp by 5.9% during the first quarter. Hennessy Advisors Inc. now owns 397,000 shares of the financial services provider’s stock worth $3,045,000 after purchasing an additional 22,000 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Western New England Bancorp by 1.6% during the fourth quarter. Federated Hermes Inc. now owns 168,218 shares of the financial services provider’s stock worth $1,514,000 after purchasing an additional 2,656 shares in the last quarter. White Pine Capital LLC lifted its position in shares of Western New England Bancorp by 28.6% during the fourth quarter. White Pine Capital LLC now owns 101,352 shares of the financial services provider’s stock worth $912,000 after purchasing an additional 22,541 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Western New England Bancorp by 32.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 81,972 shares of the financial services provider’s stock worth $738,000 after purchasing an additional 20,025 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Western New England Bancorp by 4.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,658 shares of the financial services provider’s stock worth $517,000 after purchasing an additional 3,353 shares in the last quarter. Institutional investors and hedge funds own 67.95% of the company’s stock.

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.