Seaport Res Ptn Analysts Reduce Earnings Estimates for Western New England Bancorp, Inc. (NASDAQ:WNEB)

Western New England Bancorp, Inc. (NASDAQ:WNEB) – Stock analysts at Seaport Res Ptn reduced their Q3 2024 earnings per share estimates for shares of Western New England Bancorp in a research note issued 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 previous 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 reissued a “neutral” rating and issued a $7.50 price target (down previously from $9.00) on shares of Western New England Bancorp in a research report on Wednesday, April 24th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Western New England Bancorp currently has a consensus rating of “Hold” and a consensus price target of $7.50.

Western New England Bancorp Stock Down 3.2 %

NASDAQ:WNEB opened at $6.45 on Monday. Western New England Bancorp has a 1-year low of $5.58 and a 1-year high of $9.25. The firm has a market capitalization of $140.03 million, a price-to-earnings ratio of 10.75 and a beta of 0.61. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.59. The business’s fifty day moving average price is $7.50 and its 200 day moving average price is $7.88.

Institutional Trading of Western New England Bancorp

A number of hedge funds have recently modified their holdings of the company. Raymond James & Associates raised its holdings in shares of Western New England Bancorp by 10.3% in the third quarter. Raymond James & Associates now owns 22,280 shares of the financial services provider’s stock valued at $145,000 after buying an additional 2,081 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Western New England Bancorp during the third quarter worth approximately $402,000. Barclays PLC grew its stake in shares of 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 valued at $265,000 after purchasing an additional 4,948 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Western New England Bancorp by 6.8% in the third quarter. Hsbc Holdings PLC now owns 28,836 shares of the financial services provider’s stock valued at $187,000 after purchasing an additional 1,838 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Western New England Bancorp by 4.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,658 shares of the financial services provider’s stock worth $517,000 after purchasing an additional 3,353 shares during the last quarter. Institutional investors own 67.95% of the company’s stock.

Western New England Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be given a $0.07 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $0.28 annualized dividend and a yield of 4.34%. 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.