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

Western New England Bancorp (NASDAQ:WNEB) issued its quarterly earnings results on Tuesday. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.06), Zacks reports. Western New England Bancorp had a net margin of 13.27% and a return on equity of 7.25%.

Western New England Bancorp Stock Performance

Shares of NASDAQ:WNEB traded up $0.26 on Tuesday, hitting $14.66. 33,942 shares of the company were exchanged, compared to its average volume of 57,319. The company’s 50 day moving average price is $13.87 and its two-hundred day moving average price is $13.52. The firm has a market capitalization of $294.96 million, a price-to-earnings ratio of 16.47 and a beta of 0.75. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.93 and a current ratio of 0.93. Western New England Bancorp has a one year low of $10.25 and a one year high of $15.01.

Insider Buying and Selling at Western New England Bancorp

In related news, SVP Darlene M. Libiszewski sold 3,680 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $13.42, for a total value of $49,385.60. Following the completion of the sale, the senior vice president owned 14,048 shares in the company, valued at approximately $188,524.16. This trade represents a 20.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.56% of the company’s stock.

Hedge Funds Weigh In On Western New England Bancorp

Several large investors have recently added to or reduced their stakes in WNEB. Invesco Ltd. lifted its position in shares of Western New England Bancorp by 15.9% in the 4th quarter. Invesco Ltd. now owns 24,223 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 3,328 shares during the period. Empowered Funds LLC increased its position in shares of Western New England Bancorp by 2.0% during the fourth quarter. Empowered Funds LLC now owns 112,500 shares of the financial services provider’s stock valued at $1,420,000 after purchasing an additional 2,171 shares during the period. Bridgeway Capital Management LLC raised its stake in shares of Western New England Bancorp by 1.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 223,641 shares of the financial services provider’s stock valued at $2,822,000 after purchasing an additional 2,171 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Western New England Bancorp by 3.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 68,387 shares of the financial services provider’s stock valued at $864,000 after purchasing an additional 2,405 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in Western New England Bancorp by 21.4% in the fourth quarter. Squarepoint Ops LLC now owns 48,540 shares of the financial services provider’s stock worth $613,000 after purchasing an additional 8,550 shares during the period. Institutional investors and hedge funds own 67.95% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on WNEB shares. Piper Sandler reissued an “overweight” rating and set a $15.00 price objective on shares of Western New England Bancorp in a research report on Wednesday, April 29th. Hovde Group raised Western New England Bancorp to a “hold” rating in a report on Thursday, April 2nd. Weiss Ratings raised Western New England Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Zacks Research lowered Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Finally, Seaport Research Partners increased their price objective on Western New England Bancorp from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Western New England Bancorp has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Western New England Bancorp Company Profile

Western New England Bancorp is a bank holding company headquartered in Westfield, Massachusetts. Through its wholly owned subsidiary, Westfield Bank, the company provides a full suite of commercial and consumer banking services. Its operations focus on serving small to mid-sized businesses, professional practices, and individual customers, with a strategy centered on relationship-driven banking and community involvement.

The company’s core offerings include deposit products such as checking, savings and money market accounts, along with business cash-management solutions.