Brokers Offer Predictions for Western New England Bancorp Inc’s Q1 2020 Earnings (NASDAQ:WNEB)

Western New England Bancorp Inc (NASDAQ:WNEB) – Research analysts at Piper Sandler decreased their Q1 2020 earnings estimates for Western New England Bancorp in a note issued to investors on Monday, March 23rd. Piper Sandler analyst M. Fitzgibbon now forecasts that the financial services provider will post earnings of $0.11 per share for the quarter, down from their prior estimate of $0.13. Piper Sandler also issued estimates for Western New England Bancorp’s Q2 2020 earnings at $0.11 EPS, Q3 2020 earnings at $0.12 EPS, Q4 2020 earnings at $0.12 EPS, FY2020 earnings at $0.45 EPS, Q1 2021 earnings at $0.12 EPS, Q2 2021 earnings at $0.12 EPS, Q3 2021 earnings at $0.13 EPS, Q4 2021 earnings at $0.14 EPS and FY2021 earnings at $0.50 EPS.

Western New England Bancorp (NASDAQ:WNEB) last released its earnings results on Tuesday, January 28th. The financial services provider reported $0.13 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.13. The company had revenue of $17.33 million for the quarter, compared to analysts’ expectations of $17.28 million. Western New England Bancorp had a return on equity of 5.79% and a net margin of 14.54%.

Several other analysts have also commented on WNEB. Zacks Investment Research raised shares of Western New England Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, February 29th. TheStreet downgraded shares of Western New England Bancorp from a “b” rating to a “c+” rating in a research report on Friday, January 31st. BidaskClub upgraded shares of Western New England Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. DA Davidson raised shares of Western New England Bancorp from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $10.00 to $9.50 in a report on Monday, March 9th. Finally, Compass Point downgraded Western New England Bancorp from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $10.00 to $9.00 in a research note on Wednesday, March 4th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $9.83.

NASDAQ WNEB opened at $7.05 on Thursday. Western New England Bancorp has a 52-week low of $4.45 and a 52-week high of $10.15. The company has a 50-day simple moving average of $8.23 and a 200 day simple moving average of $9.24. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $170.82 million, a PE ratio of 14.10 and a beta of 0.20.

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.20 annualized dividend and a dividend yield of 2.84%. Western New England Bancorp’s payout ratio is 39.22%.

A number of institutional investors and hedge funds have recently made changes to their positions in WNEB. Citigroup Inc. raised its stake in Western New England Bancorp by 38.2% in the 4th quarter. Citigroup Inc. now owns 4,938 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 1,366 shares during the period. Metropolitan Life Insurance Co NY bought a new stake in shares of Western New England Bancorp in the third quarter valued at approximately $84,000. Squarepoint Ops LLC bought a new stake in shares of Western New England Bancorp in the third quarter valued at approximately $111,000. Strs Ohio bought a new stake in shares of Western New England Bancorp in the fourth quarter valued at approximately $221,000. Finally, Barclays PLC raised its position in shares of Western New England Bancorp by 99.1% in the fourth quarter. Barclays PLC now owns 24,296 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 12,093 shares during the period. 53.19% of the stock is owned by institutional investors.

Western New England Bancorp Company Profile

Western New England Bancorp, Inc operates as the holding company for Westfield Bank that provides commercial and retail banking products and services to individuals and businesses. The company accepts various deposit accounts, including checking, savings, business and municipal savings, money market and business sweep, and individual retirement accounts; time deposits; term certificates of deposit; and interest on lawyers trust accounts.

Further Reading: Front-End Load

Earnings History and Estimates for Western New England Bancorp (NASDAQ:WNEB)

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