Western New England Bancorp’s (WNEB) “Buy” Rating Reiterated at Seaport Res Ptn

Seaport Res Ptn reiterated their buy rating on shares of Western New England Bancorp (NASDAQ:WNEB) in a report released on Tuesday, PriceTargets.com reports. Seaport Res Ptn also issued estimates for Western New England Bancorp’s Q3 2023 earnings at $0.14 EPS, Q4 2023 earnings at $0.13 EPS, FY2023 earnings at $0.64 EPS, Q1 2024 earnings at $0.11 EPS, Q2 2024 earnings at $0.12 EPS, Q3 2024 earnings at $0.12 EPS, Q4 2024 earnings at $0.12 EPS, FY2024 earnings at $0.48 EPS, Q1 2025 earnings at $0.11 EPS, Q2 2025 earnings at $0.13 EPS and FY2025 earnings at $0.52 EPS.

A number of other equities analysts also recently commented on the stock. StockNews.com initiated coverage on shares of Western New England Bancorp in a research note on Thursday, August 17th. They set a hold rating on the stock. TheStreet lowered shares of Western New England Bancorp from a b- rating to a c+ rating in a research report on Monday, June 12th.

Western New England Bancorp Stock Performance

WNEB opened at $6.29 on Tuesday. Western New England Bancorp has a twelve month low of $5.58 and a twelve month high of $10.25. The firm has a market capitalization of $138.90 million, a PE ratio of 5.88 and a beta of 0.55. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60. The firm’s 50-day moving average price is $6.32 and its 200 day moving average price is $6.88.

Western New England Bancorp (NASDAQ:WNEB) last released its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). Western New England Bancorp had a return on equity of 10.19% and a net margin of 21.67%. The company had revenue of $18.44 million for the quarter, compared to analyst estimates of $20.60 million. As a group, sell-side analysts expect that Western New England Bancorp will post 0.67 EPS for the current fiscal year.

Western New England Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend was Tuesday, August 8th. Western New England Bancorp’s dividend payout ratio (DPR) is presently 26.17%.

Institutional Investors Weigh In On Western New England Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in WNEB. BlackRock Inc. boosted its position in shares of Western New England Bancorp by 10.4% during the 1st quarter. BlackRock Inc. now owns 984,115 shares of the financial services provider’s stock worth $8,797,000 after purchasing an additional 92,764 shares during the period. UBS Group AG boosted its position in shares of Western New England Bancorp by 22.2% during the first quarter. UBS Group AG now owns 9,843 shares of the financial services provider’s stock worth $88,000 after buying an additional 1,786 shares during the period. State Street Corp boosted its position in shares of Western New England Bancorp by 8.0% during the first quarter. State Street Corp now owns 89,334 shares of the financial services provider’s stock worth $799,000 after buying an additional 6,653 shares during the period. Jane Street Group LLC acquired a new stake in shares of Western New England Bancorp in the first quarter valued at $139,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Western New England Bancorp by 25.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 10,046 shares of the financial services provider’s stock valued at $82,000 after buying an additional 2,061 shares during the period. 53.60% of the stock is owned by hedge funds and other institutional investors.

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.