Analysts AwaitWestern New England Bancorp Inc (WNEB) to Publish $0.14 EPS

Analysts AwaitWestern New England Bancorp Inc (WNEB) to Publish $0.14 EPS

Shares of Western New England Bancorp Inc (NASDAQ:WNEB) have been given an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. Western New England Bancorp’s rating score has improved by 14.2% from three months ago as a result of a number of analysts’ upgrades and downgrades.

Brokers have set a twelve-month consensus price target of $10.42 for the company and are predicting that the company will post $0.14 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Western New England Bancorp an industry rank of 101 out of 265 based on the ratings given to related companies.

WNEB has been the topic of several analyst reports. Zacks Investment Research raised shares of Western New England Bancorp from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Wednesday, March 1st. TheStreet upgraded shares of Western New England Bancorp from a “c+” rating to a “b” rating in a research note on Wednesday, May 17th. Compass Point upgraded shares of Western New England Bancorp from a “neutral” rating to a “buy” rating and set a $11.50 target price on the stock in a research note on Tuesday, February 28th. Piper Jaffray Companies boosted their target price on shares of Western New England Bancorp from $10.50 to $11.50 and gave the company an “overweight” rating in a research note on Tuesday, February 7th. Finally, Keefe, Bruyette & Woods restated a “neutral” rating on shares of Western New England Bancorp in a research note on Wednesday, April 26th.

In related news, Director Paul C. Picknelly sold 15,558 shares of the company’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $10.65, for a total transaction of $165,692.70. Following the transaction, the director now owns 86,659 shares in the company, valued at approximately $922,918.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 6.10% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its position in Western New England Bancorp by 7.8% in the first quarter. Renaissance Technologies LLC now owns 1,264,909 shares of the financial services provider’s stock worth $13,282,000 after buying an additional 91,679 shares during the last quarter. Vanguard Group Inc. increased its position in Western New England Bancorp by 0.6% in the first quarter. Vanguard Group Inc. now owns 988,528 shares of the financial services provider’s stock worth $10,379,000 after buying an additional 5,622 shares during the last quarter. Mendon Capital Advisors Corp acquired a new position in Western New England Bancorp during the first quarter worth about $7,555,000. RMB Capital Management LLC acquired a new position in Western New England Bancorp during the first quarter worth about $6,532,000. Finally, Geode Capital Management LLC increased its position in Western New England Bancorp by 1.5% in the first quarter. Geode Capital Management LLC now owns 222,774 shares of the financial services provider’s stock worth $2,339,000 after buying an additional 3,209 shares during the last quarter. Institutional investors own 37.36% of the company’s stock.

Shares of Western New England Bancorp (NASDAQ:WNEB) traded up 2.48% on Tuesday, reaching $10.35. 36,807 shares of the company’s stock traded hands. Western New England Bancorp has a 52 week low of $7.35 and a 52 week high of $10.75. The company’s 50-day moving average is $10.28 and its 200-day moving average is $9.70. The firm has a market capitalization of $306.33 million, a P/E ratio of 29.91 and a beta of 0.43.

Western New England Bancorp (NASDAQ:WNEB) last announced its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The firm had revenue of $16.53 million for the quarter. Western New England Bancorp had a net margin of 8.86% and a return on equity of 5.28%. Equities research analysts anticipate that Western New England Bancorp will post $0.59 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 24th. Investors of record on Wednesday, May 10th were given a dividend of $0.03 per share. The ex-dividend date was Monday, May 8th. This represents a $0.12 annualized dividend and a yield of 1.16%. Western New England Bancorp’s dividend payout ratio (DPR) is 50.00%.

About Western New England Bancorp

Western New England Bancorp, Inc, formerly Westfield Financial, Inc, is a Massachusetts-chartered stock holding company. The Company serves as a holding company for Westfield Bank (the Bank). It is a provider of banking products and services to business organizations and individuals, including products such as residential and commercial loans, consumer loans and a variety of deposit products.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:WNEB”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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