Seaport Res Ptn Issues Positive Estimate for WNEB Earnings

Western New England Bancorp, Inc. (NASDAQ:WNEB) – Stock analysts at Seaport Res Ptn increased their Q4 2024 earnings per share (EPS) estimates for shares of Western New England Bancorp in a research report issued to clients and investors on Thursday, October 24th. Seaport Res Ptn analyst L. Hunsicker now forecasts that the financial services provider will earn $0.11 per share for the quarter, up from their previous forecast of $0.10. Seaport Res Ptn has a “Hold” rating on the stock. The consensus estimate for Western New England Bancorp’s current full-year earnings is $0.51 per share.

A number of other analysts have also commented on WNEB. Piper Sandler raised their price target on Western New England Bancorp from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Janney Montgomery Scott cut shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th.

Western New England Bancorp Trading Up 0.2 %

NASDAQ WNEB opened at $8.70 on Monday. The stock has a market cap of $188.16 million, a P/E ratio of 14.53 and a beta of 0.69. Western New England Bancorp has a fifty-two week low of $6.00 and a fifty-two week high of $9.25. The stock has a 50 day simple moving average of $8.68 and a two-hundred day simple moving average of $7.57. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.95 and a current ratio of 0.95.

Western New England Bancorp (NASDAQ:WNEB) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). Western New England Bancorp had a return on equity of 4.60% and a net margin of 9.05%. The firm had revenue of $30.98 million for the quarter, compared to analysts’ expectations of $17.39 million.

Hedge Funds Weigh In On Western New England Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its position in Western New England Bancorp by 16.6% during 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 acquiring an additional 57,099 shares during the period. Renaissance Technologies LLC increased its stake in shares of Western New England Bancorp by 2.8% during 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 purchasing an additional 32,700 shares in the last quarter. Hennessy Advisors Inc. lifted its holdings in shares of Western New England Bancorp by 7.1% during the second quarter. Hennessy Advisors Inc. now owns 425,000 shares of the financial services provider’s stock valued at $2,924,000 after purchasing an additional 28,000 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Western New England Bancorp in the 2nd quarter worth approximately $170,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Western New England Bancorp by 48.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 49,236 shares of the financial services provider’s stock worth $419,000 after buying an additional 16,158 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 Thursday, November 21st. Shareholders 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 dividend on an annualized basis and a yield of 3.22%. Western New England Bancorp’s dividend payout ratio (DPR) is 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.