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

Western New England Bancorp, Inc. (NASDAQ:WNEB) – Stock analysts at Seaport Res Ptn lowered their Q3 2024 earnings per share (EPS) estimates for shares of Western New England Bancorp in a research note issued to investors on Thursday, April 25th. Seaport Res Ptn analyst L. Hunsicker now expects that the financial services provider will post earnings per share of $0.11 for the quarter, down from their prior estimate 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 reiterated a “neutral” rating and issued 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 assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.50.

Western New England Bancorp Stock Down 3.8 %

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Hennessy Advisors Inc. boosted its position in shares of Western New England Bancorp by 5.9% in the 1st quarter. Hennessy Advisors Inc. now owns 397,000 shares of the financial services provider’s stock worth $3,045,000 after purchasing an additional 22,000 shares during the last quarter. Federated Hermes Inc. lifted its holdings 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 acquiring an additional 2,656 shares in the last quarter. White Pine Capital LLC lifted its holdings in Western New England Bancorp by 28.6% during the fourth quarter. White Pine Capital LLC now owns 101,352 shares of the financial services provider’s stock worth $912,000 after acquiring an additional 22,541 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings 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 acquiring an additional 20,025 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Western New England Bancorp by 4.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,658 shares of the financial services provider’s stock worth $517,000 after acquiring an additional 3,353 shares in the last quarter. 67.95% of the stock is currently owned by institutional investors.

Western New England Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be given a $0.07 dividend. The ex-dividend date of this dividend 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 is currently 46.67%.

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.