What is Seaport Res Ptn’s Forecast for WNEB FY2024 Earnings?

Western New England Bancorp, Inc. (NASDAQ:WNEB) – Analysts at Seaport Res Ptn raised their FY2024 earnings estimates for Western New England Bancorp in a research report issued on Thursday, October 24th. Seaport Res Ptn analyst L. Hunsicker now anticipates that the financial services provider will post earnings per share of $0.51 for the year, up from their previous estimate of $0.50. Seaport Res Ptn currently has a “Hold” rating on the stock. The consensus estimate for Western New England Bancorp’s current full-year earnings is $0.52 per share. Seaport Res Ptn also issued estimates for Western New England Bancorp’s FY2025 earnings at $0.57 EPS.

Several other equities research analysts have also recently issued reports on WNEB. Piper Sandler raised their price objective on shares of Western New England Bancorp from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Janney Montgomery Scott downgraded shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th.

Western New England Bancorp Stock Down 0.3 %

Shares of WNEB opened at $8.68 on Friday. The stock has a fifty day simple moving average of $8.68 and a two-hundred day simple moving average of $7.56. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $187.73 million, a PE ratio of 14.47 and a beta of 0.69. Western New England Bancorp has a 52-week low of $6.00 and a 52-week high of $9.25.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). The company had revenue of $30.98 million during the quarter, compared to analyst estimates of $17.39 million. Western New England Bancorp had a net margin of 11.33% and a return on equity of 5.73%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. boosted its position in shares of Western New England Bancorp by 48.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 49,236 shares of the financial services provider’s stock worth $419,000 after purchasing an additional 16,158 shares during the period. Renaissance Technologies LLC grew its stake in shares of Western New England Bancorp by 2.8% in the second quarter. Renaissance Technologies LLC now owns 1,200,362 shares of the financial services provider’s stock valued at $8,258,000 after buying an additional 32,700 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Western New England Bancorp by 16.6% in the 2nd quarter. Acadian Asset Management LLC now owns 401,909 shares of the financial services provider’s stock valued at $2,762,000 after buying an additional 57,099 shares during the period. Panagora Asset Management Inc. acquired a new position in Western New England Bancorp during the 2nd quarter worth about $170,000. Finally, Legato Capital Management LLC grew its position in Western New England Bancorp by 39.0% in the 2nd quarter. Legato Capital Management LLC now owns 21,441 shares of the financial services provider’s stock valued at $148,000 after acquiring an additional 6,021 shares in the last quarter. Hedge funds and other institutional investors own 67.95% of the company’s stock.

Western New England Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.28 annualized dividend and a yield of 3.23%. Western New England Bancorp’s dividend payout ratio (DPR) 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.