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

Western New England Bancorp (NASDAQ:WNEB) posted its quarterly earnings data on Tuesday. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06, Zacks reports. Western New England Bancorp had a net margin of 12.43% and a return on equity of 6.78%.

Western New England Bancorp Stock Performance

WNEB stock traded up $0.03 during midday trading on Tuesday, hitting $13.84. The company’s stock had a trading volume of 36,307 shares, compared to its average volume of 55,128. The stock’s 50-day moving average price is $13.75 and its 200 day moving average price is $13.59. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.18. Western New England Bancorp has a 1 year low of $11.08 and a 1 year high of $15.01. The stock has a market cap of $277.44 million, a price-to-earnings ratio of 16.48 and a beta of 0.78.

Insider Transactions at Western New England Bancorp

In other news, Director Philip Smith sold 3,300 shares of Western New England Bancorp stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $13.88, for a total transaction of $45,804.00. Following the sale, the director directly owned 5,800 shares in the company, valued at $80,504. The trade was a 36.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.56% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on WNEB shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Western New England Bancorp in a report on Friday, August 7th. Wall Street Zen raised shares of Western New England Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. Seaport Research Partners cut shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a report on Wednesday, July 29th. Finally, Piper Sandler upped their price objective on shares of Western New England Bancorp from $15.00 to $15.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.50.

Western New England Bancorp Company Profile

Western New England Bancorp, Inc is the bank holding company for Westfield Bank, a community bank headquartered in Westfield, Massachusetts. The company provides banking and financial services to individuals, families, businesses, nonprofit organizations and municipalities.

Westfield Bank offers deposit products, residential and commercial real estate lending, commercial and industrial loans, consumer loans, home equity financing and other credit services. Its services also include online and mobile banking, cash management, electronic payments and wealth management solutions.

Founded in 1853, Westfield Bank has a long history of serving communities in western Massachusetts and northern Connecticut.