Seaport Res Ptn Weighs in on Western New England Bancorp, Inc.’s Q3 2024 Earnings (NASDAQ:WNEB)

Western New England Bancorp, Inc. (NASDAQ:WNEB) – Research analysts at Seaport Res Ptn cut their Q3 2024 earnings estimates for Western New England Bancorp in a note issued to investors on Thursday, April 25th. Seaport Res Ptn analyst L. Hunsicker now forecasts that the financial services provider will post earnings of $0.11 per share for the quarter, down from their prior estimate of $0.14. The consensus estimate for Western New England Bancorp’s current full-year earnings is $0.49 per share. Seaport Res Ptn also issued estimates for Western New England Bancorp’s Q4 2024 earnings at $0.12 EPS, FY2024 earnings at $0.49 EPS, Q1 2025 earnings at $0.13 EPS, Q2 2025 earnings at $0.17 EPS, Q3 2025 earnings at $0.18 EPS and FY2025 earnings at $0.67 EPS.

Separately, Piper Sandler restated a “neutral” rating and set a $7.50 target price (down previously from $9.00) on shares of Western New England Bancorp in a research report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.50.

Western New England Bancorp Price Performance

WNEB opened at $6.28 on Monday. 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 company’s 50 day simple moving average is $7.46 and its 200-day simple moving average is $7.88. Western New England Bancorp has a one year low of $5.58 and a one year high of $9.25. The stock has a market capitalization of $136.31 million, a P/E ratio of 10.47 and a beta of 0.61.

Institutional Trading of Western New England Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC lifted its position in Western New England Bancorp by 6.8% in the 3rd quarter. Hsbc Holdings PLC now owns 28,836 shares of the financial services provider’s stock valued at $187,000 after acquiring an additional 1,838 shares in the last quarter. Ritholtz Wealth Management increased its holdings in shares of Western New England Bancorp by 8.7% during the 4th quarter. Ritholtz Wealth Management now owns 24,039 shares of the financial services provider’s stock worth $216,000 after acquiring an additional 1,917 shares during the last quarter. Essex Financial Services Inc. raised its position in shares of Western New England Bancorp by 14.2% in the third quarter. Essex Financial Services Inc. now owns 15,513 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 1,929 shares during the period. Raymond James & Associates lifted its position 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 acquiring an additional 2,081 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of Western New England Bancorp by 1.6% during the fourth quarter. Federated Hermes Inc. now owns 168,218 shares of the financial services provider’s stock worth $1,514,000 after purchasing an additional 2,656 shares during the period. Institutional investors and hedge funds own 67.95% of the company’s stock.

Western New England Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.28 annualized dividend and a dividend yield of 4.46%. Western New England Bancorp’s payout ratio is currently 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.