Western New England Bancorp, Inc. (NASDAQ:WNEB) Expected to Post Earnings of $0.24 Per Share

Analysts expect Western New England Bancorp, Inc. (NASDAQ:WNEBGet Rating) to announce $0.24 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Western New England Bancorp’s earnings. The highest EPS estimate is $0.25 and the lowest is $0.23. Western New England Bancorp also posted earnings per share of $0.24 during the same quarter last year. The company is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Western New England Bancorp will report full year earnings of $0.97 per share for the current financial year, with EPS estimates ranging from $0.95 to $0.99. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.03 per share, with EPS estimates ranging from $1.00 to $1.05. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Western New England Bancorp.

Western New England Bancorp (NASDAQ:WNEBGet Rating) last issued its quarterly earnings data on Tuesday, April 26th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. Western New England Bancorp had a return on equity of 10.50% and a net margin of 25.34%.

Several equities analysts have weighed in on the company. StockNews.com assumed coverage on Western New England Bancorp in a research report on Monday. They issued a “buy” rating for the company. Zacks Investment Research raised Western New England Bancorp from a “hold” rating to a “buy” rating and set a $9.75 target price for the company in a research report on Friday, April 29th.

In other news, SVP Darlene M. Libiszewski sold 6,180 shares of Western New England Bancorp stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $8.40, for a total value of $51,912.00. Following the completion of the transaction, the senior vice president now owns 15,389 shares in the company, valued at approximately $129,267.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Darlene M. Libiszewski sold 8,795 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $8.41, for a total value of $73,965.95. Following the sale, the senior vice president now owns 15,389 shares of the company’s stock, valued at approximately $129,421.49. The disclosure for this sale can be found here. Company insiders own 4.75% of the company’s stock.

A number of hedge funds have recently bought and sold shares of WNEB. Morgan Stanley lifted its stake in Western New England Bancorp by 16.8% during the first quarter. Morgan Stanley now owns 21,812 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 3,138 shares during the last quarter. Royal Bank of Canada lifted its stake in Western New England Bancorp by 16.7% during the second quarter. Royal Bank of Canada now owns 22,181 shares of the financial services provider’s stock worth $181,000 after purchasing an additional 3,175 shares during the last quarter. Citadel Advisors LLC lifted its stake in Western New England Bancorp by 157.6% during the second quarter. Citadel Advisors LLC now owns 75,033 shares of the financial services provider’s stock worth $612,000 after purchasing an additional 45,904 shares during the last quarter. Geode Capital Management LLC lifted its stake in Western New England Bancorp by 1.9% in the third quarter. Geode Capital Management LLC now owns 219,551 shares of the financial services provider’s stock valued at $1,872,000 after buying an additional 4,196 shares during the last quarter. Finally, Trexquant Investment LP lifted its stake in Western New England Bancorp by 42.9% in the third quarter. Trexquant Investment LP now owns 19,483 shares of the financial services provider’s stock valued at $166,000 after buying an additional 5,853 shares during the last quarter. Hedge funds and other institutional investors own 52.43% of the company’s stock.

Shares of NASDAQ:WNEB traded down $0.37 during midday trading on Friday, reaching $8.07. 63,609 shares of the company’s stock were exchanged, compared to its average volume of 22,861. The firm’s 50 day simple moving average is $8.53 and its two-hundred day simple moving average is $8.84. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market cap of $182.70 million, a price-to-earnings ratio of 7.84 and a beta of 0.37. Western New England Bancorp has a fifty-two week low of $7.72 and a fifty-two week high of $9.98.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 25th. Shareholders of record on Wednesday, May 11th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend was Tuesday, May 10th. Western New England Bancorp’s dividend payout ratio is currently 23.30%.

Western New England Bancorp Company Profile (Get Rating)

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 checking, business and municipal savings, money market and sweep, individual retirement, and other savings accounts; time deposits; certificates of deposit; and interest on lawyers trust accounts.

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Earnings History and Estimates for Western New England Bancorp (NASDAQ:WNEB)

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