Seaport Res Ptn Issues Positive Outlook for WNEB Earnings

Western New England Bancorp, Inc. (NASDAQ:WNEB) – Stock analysts at Seaport Res Ptn boosted their Q4 2024 earnings per share (EPS) estimates for shares of Western New England Bancorp in a note issued to 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 currently 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 brokerages have also issued reports on WNEB. Janney Montgomery Scott lowered Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Piper Sandler increased their target price 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.

Western New England Bancorp Stock Performance

Shares of WNEB stock opened at $8.69 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $187.95 million, a P/E ratio of 14.48 and a beta of 0.69. The firm’s 50 day moving average price is $8.68 and its 200-day moving average price is $7.59. Western New England Bancorp has a one year low of $6.00 and a one year high of $9.25.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WNEB. Janney Montgomery Scott LLC purchased a new position in shares of Western New England Bancorp in the 1st quarter valued at about $85,000. Legato Capital Management LLC increased its stake in shares of Western New England Bancorp by 39.0% during the second quarter. Legato Capital Management LLC now owns 21,441 shares of the financial services provider’s stock worth $148,000 after buying an additional 6,021 shares during the period. Quadrature Capital Ltd lifted its stake in Western New England Bancorp by 50.9% in the first quarter. Quadrature Capital Ltd now owns 22,173 shares of the financial services provider’s stock worth $170,000 after acquiring an additional 7,482 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in Western New England Bancorp during the 2nd quarter worth approximately $170,000. Finally, ST Germain D J Co. Inc. increased its position in shares of Western New England Bancorp by 45.2% in the 2nd quarter. ST Germain D J Co. Inc. now owns 32,130 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 10,006 shares during the last quarter. 67.95% of the stock is owned by institutional investors and hedge funds.

Western New England Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.07 per share. 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 presently 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.