Brokerages Expect Western New England Bancorp Inc (WNEB) Will Post Quarterly Sales of $17.19 Million

Analysts expect Western New England Bancorp Inc (NASDAQ:WNEB) to post $17.19 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Western New England Bancorp’s earnings. The highest sales estimate is $17.37 million and the lowest is $17.00 million. Western New England Bancorp reported sales of $17.35 million in the same quarter last year, which would suggest a negative year over year growth rate of 0.9%. The company is expected to announce its next quarterly earnings results on Tuesday, January 29th.

According to Zacks, analysts expect that Western New England Bancorp will report full-year sales of $69.24 million for the current year, with estimates ranging from $69.20 million to $69.28 million. For the next financial year, analysts anticipate that the business will post sales of $70.89 million, with estimates ranging from $70.10 million to $71.67 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Western New England Bancorp.

Western New England Bancorp (NASDAQ:WNEB) last announced its earnings results on Tuesday, October 23rd. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.14. The company had revenue of $16.90 million during the quarter, compared to analysts’ expectations of $17.49 million. Western New England Bancorp had a net margin of 14.03% and a return on equity of 6.58%.

A number of brokerages have recently issued reports on WNEB. Sandler O’Neill cut shares of Western New England Bancorp from a “buy” rating to a “hold” rating and set a $12.00 target price for the company. in a research report on Wednesday, July 25th. BidaskClub raised shares of Western New England Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, September 12th. Finally, Zacks Investment Research cut shares of Western New England Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $11.88.

Shares of Western New England Bancorp stock opened at $9.84 on Friday. The stock has a market capitalization of $295.68 million, a PE ratio of 19.68 and a beta of 0.35. Western New England Bancorp has a 52-week low of $9.76 and a 52-week high of $11.25. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.04 and a quick ratio of 1.04.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, November 7th will be given a dividend of $0.04 per share. The ex-dividend date is Tuesday, November 6th. This represents a $0.16 annualized dividend and a yield of 1.63%. Western New England Bancorp’s dividend payout ratio is 32.00%.

In other news, Director Philip R. Smith acquired 4,000 shares of the business’s stock in a transaction that occurred on Monday, October 29th. The stock was acquired at an average price of $10.29 per share, with a total value of $41,160.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.35% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of WNEB. Dalton Greiner Hartman Maher & Co. lifted its position in Western New England Bancorp by 42.8% during the second quarter. Dalton Greiner Hartman Maher & Co. now owns 289,534 shares of the financial services provider’s stock worth $3,185,000 after purchasing an additional 86,812 shares during the period. Royce & Associates LP lifted its position in Western New England Bancorp by 17.0% during the second quarter. Royce & Associates LP now owns 491,754 shares of the financial services provider’s stock worth $5,409,000 after purchasing an additional 71,300 shares during the period. BlackRock Inc. lifted its position in Western New England Bancorp by 1.6% during the second quarter. BlackRock Inc. now owns 2,217,666 shares of the financial services provider’s stock worth $24,393,000 after purchasing an additional 35,747 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Western New England Bancorp by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,196,685 shares of the financial services provider’s stock worth $24,163,000 after acquiring an additional 35,140 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Western New England Bancorp by 7.0% in the second quarter. Renaissance Technologies LLC now owns 1,574,409 shares of the financial services provider’s stock worth $17,318,000 after acquiring an additional 102,982 shares during the last quarter. 55.41% of the stock is owned by institutional investors and hedge funds.

About Western New England Bancorp

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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