FIG Partners Comments on Western New England Bancorp Inc’s Q2 2019 Earnings (WNEB)

Western New England Bancorp Inc (NASDAQ:WNEB) – Equities research analysts at FIG Partners cut their Q2 2019 earnings per share (EPS) estimates for Western New England Bancorp in a report released on Monday, October 29th. FIG Partners analyst D. Bishop now forecasts that the financial services provider will earn $0.15 per share for the quarter, down from their prior forecast 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 results on Tuesday, October 23rd. The financial services provider reported $0.14 earnings per share for the quarter, meeting the Zacks’ 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%.

A number of other research firms have also recently issued reports on WNEB. Sandler O’Neill cut Western New England Bancorp from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a research report on Wednesday, July 25th. BidaskClub cut Western New England Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. Finally, Zacks Investment Research cut Western New England Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $11.88.

WNEB opened at $9.98 on Wednesday. Western New England Bancorp has a 12-month low of $9.80 and a 12-month high of $11.25. The company has a market capitalization of $299.55 million, a PE ratio of 19.96 and a beta of 0.26. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.89.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. California Public Employees Retirement System lifted its position in shares of Western New England Bancorp by 7.5% in the second quarter. California Public Employees Retirement System now owns 78,716 shares of the financial services provider’s stock valued at $866,000 after buying an additional 5,510 shares during the last quarter. Dalton Greiner Hartman Maher & Co. lifted its holdings in Western New England Bancorp by 42.8% during 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 purchasing an additional 86,812 shares during the last quarter. Royce & Associates LP lifted its holdings in Western New England Bancorp by 17.0% during the 2nd quarter. Royce & Associates LP now owns 491,754 shares of the financial services provider’s stock worth $5,409,000 after purchasing an additional 71,300 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in 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 purchasing an additional 102,982 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Western New England Bancorp by 4.1% during 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 purchasing an additional 84,320 shares during the last quarter. 55.52% of the stock is owned by institutional investors.

In other Western New England Bancorp news, Director Philip R. Smith acquired 4,000 shares of the business’s stock in a transaction dated Monday, October 29th. The stock was bought at an average cost of $10.29 per share, with a total value of $41,160.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.35% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 7th will be given a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.60%. Western New England Bancorp’s payout ratio is 32.00%.

About Western New England Bancorp

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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