Q2 2024 Earnings Forecast for Western New England Bancorp, Inc. Issued By Seaport Res Ptn (NASDAQ:WNEB)

Western New England Bancorp, Inc. (NASDAQ:WNEB) – Research analysts at Seaport Res Ptn dropped their Q2 2024 EPS estimates for shares of Western New England Bancorp in a research report issued on Thursday, April 25th. Seaport Res Ptn analyst L. Hunsicker now expects that the financial services provider will earn $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 reiterated a “neutral” rating and issued a $7.50 price target (down from $9.00) on shares of Western New England Bancorp in a report on Wednesday. Three investment 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, the company presently has a consensus rating of “Hold” and a consensus target price of $7.50.

Western New England Bancorp Stock Performance

Shares of NASDAQ:WNEB opened at $6.45 on Friday. The firm has a 50 day moving average of $7.50 and a 200 day moving average of $7.87. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $140.03 million, a price-to-earnings ratio of 10.75 and a beta of 0.61. Western New England Bancorp has a 52 week low of $5.58 and a 52 week high of $9.25.

Western New England Bancorp (NASDAQ:WNEB) last announced its quarterly 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). The business had revenue of $18.89 million during the quarter, compared to analysts’ expectations of $18.67 million. Western New England Bancorp had a return on equity of 5.44% and a net margin of 11.10%.

Institutional Investors Weigh In On Western New England Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of WNEB. Assenagon Asset Management S.A. purchased a new stake in shares of Western New England Bancorp during the 3rd quarter valued at $402,000. Hennessy Advisors Inc. raised its stake in Western New England Bancorp by 9.2% in the third quarter. Hennessy Advisors Inc. now owns 387,538 shares of the financial services provider’s stock valued at $2,515,000 after buying an additional 32,538 shares during the last quarter. White Pine Capital LLC boosted its holdings in Western New England Bancorp by 28.6% in the fourth quarter. White Pine Capital LLC now owns 101,352 shares of the financial services provider’s stock worth $912,000 after acquiring an additional 22,541 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Western New England Bancorp by 14.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 53,376 shares of the financial services provider’s stock worth $346,000 after acquiring an additional 6,671 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Western New England Bancorp by 13.8% during the third quarter. Barclays PLC now owns 40,838 shares of the financial services provider’s stock worth $265,000 after acquiring an additional 4,948 shares during the last quarter. Hedge funds and other institutional investors own 67.95% of the company’s stock.

Western New England Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date is Tuesday, May 7th. Western New England Bancorp’s payout ratio is currently 46.67%.

About Western New England Bancorp

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.