Brokers Set Expectations for Western New England Bancorp Inc’s Q2 2019 Earnings (WNEB)

Western New England Bancorp Inc (NASDAQ:WNEB) – Equities research analysts at FIG Partners reduced their Q2 2019 EPS estimates for shares of Western New England Bancorp in a research note issued to investors on Monday, October 29th. FIG Partners analyst D. Bishop now expects that the financial services provider will post earnings of $0.15 per share for the quarter, down from their previous estimate of $0.16. FIG Partners also issued estimates for Western New England Bancorp’s Q3 2019 earnings at $0.15 EPS, Q4 2019 earnings at $0.16 EPS, Q1 2020 earnings at $0.15 EPS, Q2 2020 earnings at $0.16 EPS, Q3 2020 earnings at $0.17 EPS and FY2020 earnings at $0.66 EPS.

Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.14 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.14. The firm had revenue of $16.90 million during the quarter, compared to the consensus estimate of $17.49 million. Western New England Bancorp had a return on equity of 6.58% and a net margin of 14.03%.

WNEB has been the subject of a number of other reports. BidaskClub raised Western New England Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. Zacks Investment Research raised Western New England Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 19th. Finally, Sandler O’Neill downgraded 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 note on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $11.88.

Shares of WNEB stock opened at $10.04 on Wednesday. The company has a market cap of $301.93 million, a PE ratio of 20.16 and a beta of 0.26. Western New England Bancorp has a 12-month low of $9.80 and a 12-month high of $11.25. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.89.

Several hedge funds have recently modified their holdings of WNEB. Renaissance Technologies LLC raised its stake in shares of Western New England Bancorp by 7.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,574,409 shares of the financial services provider’s stock worth $17,318,000 after buying an additional 102,982 shares in the last quarter. Dalton Greiner Hartman Maher & Co. grew its holdings in shares of Western New England Bancorp by 42.8% in the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 289,534 shares of the financial services provider’s stock worth $3,185,000 after acquiring an additional 86,812 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Western New England Bancorp by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,161,545 shares of the financial services provider’s stock worth $23,020,000 after acquiring an additional 84,320 shares during the period. Royce & Associates LP grew its holdings in shares of Western New England Bancorp by 17.0% in the 2nd quarter. Royce & Associates LP now owns 491,754 shares of the financial services provider’s stock worth $5,409,000 after acquiring an additional 71,300 shares during the period. Finally, BlackRock Inc. grew its holdings in shares of Western New England Bancorp by 1.6% in the 2nd quarter. BlackRock Inc. now owns 2,217,666 shares of the financial services provider’s stock worth $24,393,000 after acquiring an additional 35,747 shares during the period. 55.52% of the stock is owned by institutional investors and hedge funds.

In other Western New England Bancorp news, Director Philip R. Smith bought 4,000 shares of the business’s stock in a transaction dated Monday, October 29th. The stock was acquired at an average cost of $10.29 per share, with a total value of $41,160.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 5.35% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 7th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Tuesday, November 6th. Western New England Bancorp’s dividend payout ratio (DPR) is 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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