Western New England Bancorp (NASDAQ:WNEB) Announces Quarterly Earnings Results

Western New England Bancorp (NASDAQ:WNEB) posted its earnings results on Wednesday. The financial services provider reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01), Yahoo Finance reports. The firm had revenue of $30.98 million for the quarter, compared to analysts’ expectations of $17.39 million. Western New England Bancorp had a return on equity of 5.73% and a net margin of 11.33%.

Western New England Bancorp Stock Down 0.3 %

Shares of WNEB stock traded down $0.03 during mid-day trading on Friday, reaching $8.68. 50,730 shares of the company were exchanged, compared to its average volume of 38,850. The business’s 50 day simple moving average is $8.68 and its 200 day simple moving average is $7.56. The company has a market capitalization of $187.73 million, a P/E ratio of 14.47 and a beta of 0.69. Western New England Bancorp has a fifty-two week low of $6.00 and a fifty-two week high of $9.25. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.95 and a current ratio of 0.95.

Western New England Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Thursday, November 7th. Western New England Bancorp’s dividend payout ratio (DPR) is 46.67%.

Analysts Set New Price Targets

Several research firms have recently commented on WNEB. Seaport Res Ptn lowered Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 24th. Piper Sandler boosted their price target on Western New England Bancorp from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, Janney Montgomery Scott downgraded Western New England Bancorp from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Western New England Bancorp currently has an average rating of “Hold” and a consensus price target of $8.00.

About Western New England Bancorp

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.