Brokerages Anticipate Western New England Bancorp Inc (WNEB) to Post $0.14 Earnings Per Share

Brokerages expect Western New England Bancorp Inc (NASDAQ:WNEB) to report earnings per share of $0.14 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Western New England Bancorp’s earnings, with the lowest EPS estimate coming in at $0.12 and the highest estimate coming in at $0.15. Western New England Bancorp reported earnings per share of $0.13 during the same quarter last year, which indicates a positive year-over-year growth rate of 7.7%. The company is expected to issue its next earnings results on Tuesday, October 23rd.

According to Zacks, analysts expect that Western New England Bancorp will report full year earnings of $0.56 per share for the current fiscal year, with EPS estimates ranging from $0.51 to $0.60. For the next financial year, analysts forecast that the business will post earnings of $0.62 per share, with EPS estimates ranging from $0.60 to $0.64. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Western New England Bancorp.

WNEB has been the topic of several recent research reports. Zacks Investment Research raised shares of Western New England Bancorp from a “sell” rating to a “hold” rating in a report on Friday, April 13th. Sandler O’Neill set a $12.00 target price on shares of Western New England Bancorp and gave the company a “buy” rating in a report on Tuesday, April 24th. BidaskClub lowered shares of Western New England Bancorp from a “buy” rating to a “hold” rating in a report on Monday, May 14th. Finally, Compass Point raised shares of Western New England Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the company from $11.00 to $12.00 in a report on Thursday, June 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Western New England Bancorp currently has a consensus rating of “Hold” and a consensus price target of $11.70.

Institutional investors have recently made changes to their positions in the business. Trexquant Investment LP bought a new stake in Western New England Bancorp in the 1st quarter worth $110,000. MetLife Investment Advisors LLC bought a new stake in Western New England Bancorp in the 4th quarter worth $146,000. Wells Fargo & Company MN grew its holdings in Western New England Bancorp by 33.3% in the 4th quarter. Wells Fargo & Company MN now owns 47,451 shares of the financial services provider’s stock worth $517,000 after acquiring an additional 11,848 shares during the last quarter. Deutsche Bank AG grew its holdings in Western New England Bancorp by 30.3% in the 4th quarter. Deutsche Bank AG now owns 112,067 shares of the financial services provider’s stock worth $1,220,000 after acquiring an additional 26,049 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Western New England Bancorp by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 184,152 shares of the financial services provider’s stock worth $2,007,000 after acquiring an additional 12,137 shares during the last quarter. 54.75% of the stock is currently owned by institutional investors and hedge funds.

Western New England Bancorp opened at $10.80 on Tuesday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.04 and a current ratio of 1.04. Western New England Bancorp has a 52 week low of $9.30 and a 52 week high of $11.25. The firm has a market cap of $323.37 million, a P/E ratio of 21.60 and a beta of 0.34.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 22nd. Investors of record on Wednesday, August 8th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Tuesday, August 7th. Western New England Bancorp’s dividend payout ratio is currently 32.00%.

Western New England Bancorp Company Profile

Western New England Bancorp, Inc operates as the holding company for Westfield Bank that provides community banking products and services to individuals and businesses. The company accepts various deposit accounts, including time deposits, money market accounts, savings accounts, demand accounts, and interest bearing checking accounts.

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Earnings History and Estimates for Western New England Bancorp (NASDAQ:WNEB)

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