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

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

WNEB has been the subject of a number of other reports. 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. Piper Sandler raised their target price on shares of 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 Trading Down 0.3 %

Shares of WNEB stock opened at $8.68 on Friday. Western New England Bancorp has a fifty-two week low of $6.00 and a fifty-two week high of $9.25. 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 stock’s fifty day moving average is $8.68 and its two-hundred day moving average is $7.57. The firm has a market capitalization of $187.73 million, a P/E ratio of 14.47 and a beta of 0.69.

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

Western New England Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders 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 annualized dividend and a dividend yield of 3.23%. Western New England Bancorp’s dividend payout ratio is presently 46.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WNEB. Hennessy Advisors Inc. lifted its holdings in Western New England Bancorp by 5.9% in the first quarter. Hennessy Advisors Inc. now owns 397,000 shares of the financial services provider’s stock valued at $3,045,000 after acquiring an additional 22,000 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Western New England Bancorp during the 1st quarter worth $85,000. Empowered Funds LLC increased its position in shares of Western New England Bancorp by 8.1% during the 1st quarter. Empowered Funds LLC now owns 70,125 shares of the financial services provider’s stock worth $538,000 after purchasing an additional 5,250 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Western New England Bancorp by 8.5% in the 1st quarter. Acadian Asset Management LLC now owns 344,810 shares of the financial services provider’s stock valued at $2,643,000 after buying an additional 26,960 shares during the period. Finally, Quadrature Capital Ltd lifted its position 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 valued at $170,000 after buying an additional 7,482 shares during the last quarter. Institutional investors and hedge funds own 67.95% of the company’s stock.

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.