Q2 2024 EPS Estimates for Western New England Bancorp, Inc. Reduced by Analyst (NASDAQ:WNEB)

Western New England Bancorp, Inc. (NASDAQ:WNEB) – Investment analysts at Seaport Res Ptn decreased their Q2 2024 earnings per share (EPS) estimates for Western New England Bancorp in a report released on Thursday, April 25th. Seaport Res Ptn analyst L. Hunsicker now anticipates that the financial services provider will post earnings per share of $0.11 for the quarter, down from their prior forecast of $0.13. The consensus estimate for Western New England Bancorp’s current full-year earnings is $0.51 per share.

Separately, Piper Sandler reissued a “neutral” rating and set a $7.50 price objective (down previously from $9.00) on shares of Western New England Bancorp in a research note on Wednesday. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Western New England Bancorp currently has an average rating of “Hold” and a consensus target price of $7.50.

Western New England Bancorp Price Performance

Western New England Bancorp stock opened at $6.45 on Friday. Western New England Bancorp has a one year low of $5.58 and a one year high of $9.25. The business has a fifty day moving average price of $7.50 and a 200-day moving average price of $7.88. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $140.03 million, a P/E ratio of 10.75 and a beta of 0.61.

Institutional Investors Weigh In On Western New England Bancorp

Several large investors have recently added to or reduced their stakes in WNEB. Ritholtz Wealth Management lifted its stake in Western New England Bancorp by 27.4% during the third quarter. Ritholtz Wealth Management now owns 22,122 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 4,757 shares during the last quarter. Hennessy Advisors Inc. lifted its stake in Western New England Bancorp by 9.2% during the third quarter. Hennessy Advisors Inc. now owns 387,538 shares of the financial services provider’s stock worth $2,515,000 after purchasing an additional 32,538 shares during the last quarter. Raymond James & Associates lifted its stake in Western New England Bancorp by 10.3% during the third quarter. Raymond James & Associates now owns 22,280 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 2,081 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Western New England Bancorp during the third quarter worth about $402,000. Finally, Barclays PLC lifted its stake in Western New England Bancorp by 13.8% during the third quarter. Barclays PLC now owns 40,838 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 4,948 shares during the last quarter. Institutional investors own 67.95% of the company’s stock.

Western New England Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Tuesday, May 7th. Western New England Bancorp’s dividend payout ratio is 46.67%.

Western New England Bancorp Company Profile

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.