Q2 2024 EPS Estimates for Western New England Bancorp, Inc. (NASDAQ:WNEB) Cut by Analyst

Western New England Bancorp, Inc. (NASDAQ:WNEB) – Seaport Res Ptn cut their Q2 2024 earnings per share estimates for shares of Western New England Bancorp in a report issued on Thursday, April 25th. Seaport Res Ptn analyst L. Hunsicker now forecasts that the financial services provider will post earnings of $0.11 per share for the quarter, down from their previous forecast 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 issued a $7.50 price objective (down from $9.00) on shares of Western New England Bancorp in a research note on Wednesday. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.50.

Western New England Bancorp Price Performance

Shares of NASDAQ WNEB opened at $6.45 on Friday. The stock has a fifty day moving average price of $7.50 and a 200 day moving average price of $7.87. Western New England Bancorp has a 1-year low of $5.58 and a 1-year 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 company has a market cap of $140.03 million, a PE ratio of 10.75 and a beta of 0.61.

Western New England Bancorp (NASDAQ:WNEB) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $0.12 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $18.89 million during the quarter, compared to analysts’ expectations of $18.67 million.

Western New England Bancorp Dividend Announcement

The firm 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 dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 4.34%. The ex-dividend date is Tuesday, May 7th. Western New England Bancorp’s payout ratio is 46.67%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of WNEB. O Shaughnessy Asset Management LLC boosted its position in shares of Western New England Bancorp by 14.3% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 53,376 shares of the financial services provider’s stock worth $346,000 after purchasing an additional 6,671 shares in the last quarter. Hsbc Holdings PLC grew its position in Western New England Bancorp by 6.8% during the third quarter. Hsbc Holdings PLC now owns 28,836 shares of the financial services provider’s stock worth $187,000 after buying an additional 1,838 shares during the period. Assenagon Asset Management S.A. grew its position in 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 buying an additional 20,025 shares during the period. Ritholtz Wealth Management increased its holdings in Western New England Bancorp by 8.7% in the fourth quarter. Ritholtz Wealth Management now owns 24,039 shares of the financial services provider’s stock valued at $216,000 after buying an additional 1,917 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 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,658 shares of the financial services provider’s stock valued at $517,000 after acquiring an additional 3,353 shares during the period. 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.