Western New England Bancorp (NASDAQ:WNEB) Releases Earnings Results, Misses Expectations By $0.06 EPS

Western New England Bancorp (NASDAQ:WNEB) issued its quarterly earnings results on Tuesday. The financial services provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06), Zacks reports. Western New England Bancorp had a return on equity of 6.80% and a net margin of 12.43%.The business had revenue of $22.13 million for the quarter, compared to the consensus estimate of $22.74 million.

Western New England Bancorp Stock Up 1.8%

Shares of NASDAQ WNEB opened at $13.16 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.37. Western New England Bancorp has a 12-month low of $10.25 and a 12-month high of $15.01. The firm’s 50-day moving average price is $13.89 and its 200-day moving average price is $13.54. The stock has a market capitalization of $264.78 million, a price-to-earnings ratio of 15.58 and a beta of 0.75.

Western New England Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, August 12th. Western New England Bancorp’s dividend payout ratio (DPR) is presently 31.46%.

Wall Street Analysts Forecast Growth

WNEB has been the topic of a number of analyst reports. Hovde Group raised shares of Western New England Bancorp to a “hold” rating in a report on Thursday, April 2nd. Seaport Research Partners cut shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday. Zacks Research lowered shares of Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Weiss Ratings upgraded shares of Western New England Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Finally, Piper Sandler increased their target price on Western New England Bancorp from $15.00 to $15.50 and gave the stock a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $15.50.

Insiders Place Their Bets

In related news, SVP Darlene M. Libiszewski sold 3,680 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $13.42, for a total transaction of $49,385.60. Following the transaction, the senior vice president directly owned 14,048 shares in the company, valued at approximately $188,524.16. This represents a 20.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.56% of the stock is owned by company insiders.

Institutional Investors Weigh In On Western New England Bancorp

Hedge funds have recently made changes to their positions in the company. Invesco Ltd. grew its stake in Western New England Bancorp by 15.9% during the 4th quarter. Invesco Ltd. now owns 24,223 shares of the financial services provider’s stock worth $306,000 after buying an additional 3,328 shares during the last quarter. Empowered Funds LLC boosted its position in Western New England Bancorp by 2.0% in the 4th quarter. Empowered Funds LLC now owns 112,500 shares of the financial services provider’s stock worth $1,420,000 after purchasing an additional 2,171 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in Western New England Bancorp by 1.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 223,641 shares of the financial services provider’s stock worth $2,822,000 after purchasing an additional 2,171 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Western New England Bancorp by 3.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 68,387 shares of the financial services provider’s stock valued at $864,000 after purchasing an additional 2,405 shares during the period. Finally, Squarepoint Ops LLC raised its stake in Western New England Bancorp by 21.4% in the 4th quarter. Squarepoint Ops LLC now owns 48,540 shares of the financial services provider’s stock valued at $613,000 after purchasing an additional 8,550 shares during the last quarter. 67.95% of the stock is currently owned by hedge funds and other institutional investors.

About Western New England Bancorp

Western New England Bancorp is a bank holding company headquartered in Westfield, Massachusetts. Through its wholly owned subsidiary, Westfield Bank, the company provides a full suite of commercial and consumer banking services. Its operations focus on serving small to mid-sized businesses, professional practices, and individual customers, with a strategy centered on relationship-driven banking and community involvement.

The company’s core offerings include deposit products such as checking, savings and money market accounts, along with business cash-management solutions.