Q3 2024 Earnings Forecast for Western New England Bancorp, Inc. Issued By Seaport Res Ptn (NASDAQ:WNEB)

Western New England Bancorp, Inc. (NASDAQ:WNEB) – Seaport Res Ptn dropped their Q3 2024 EPS estimates for shares of Western New England Bancorp in a report released on Thursday, April 25th. Seaport Res Ptn analyst L. Hunsicker now forecasts that the financial services provider will post earnings per share of $0.11 for the quarter, down from their previous forecast 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 reaffirmed a “neutral” rating and set a $7.50 price objective (down from $9.00) on shares of Western New England Bancorp in a research report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.50.

Western New England Bancorp Stock Performance

Shares of WNEB stock opened at $6.04 on Monday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.59. Western New England Bancorp has a 52 week low of $5.58 and a 52 week high of $9.25. The stock has a market capitalization of $131.13 million, a PE ratio of 10.07 and a beta of 0.61. The firm has a 50 day moving average of $7.42 and a two-hundred day moving average of $7.87.

Western New England Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be given a dividend of $0.07 per share. The ex-dividend date is Tuesday, May 7th. This represents a $0.28 annualized dividend and a dividend yield of 4.64%. Western New England Bancorp’s dividend payout ratio (DPR) is currently 46.67%.

Institutional Investors Weigh In On Western New England Bancorp

Several institutional investors have recently modified their holdings of WNEB. O Shaughnessy Asset Management LLC grew its holdings in shares of Western New England Bancorp by 14.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 53,376 shares of the financial services provider’s stock worth $346,000 after purchasing an additional 6,671 shares during the last quarter. Hsbc Holdings PLC increased its position in Western New England Bancorp by 6.8% during the third quarter. Hsbc Holdings PLC now owns 28,836 shares of the financial services provider’s stock worth $187,000 after buying an additional 1,838 shares during the period. Assenagon Asset Management S.A. increased its position in Western New England Bancorp by 32.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 81,972 shares of the financial services provider’s stock worth $738,000 after buying an additional 20,025 shares during the period. Ritholtz Wealth Management increased its position in Western New England Bancorp by 8.7% during the fourth quarter. Ritholtz Wealth Management now owns 24,039 shares of the financial services provider’s stock worth $216,000 after buying an additional 1,917 shares during the period. Finally, Federated Hermes Inc. increased its position in Western New England Bancorp by 1.6% during the fourth quarter. Federated Hermes Inc. now owns 168,218 shares of the financial services provider’s stock worth $1,514,000 after buying an additional 2,656 shares during the period. 67.95% of the stock is owned by hedge funds and other institutional investors.

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.