Western New England Bancorp (NASDAQ:WNEB) Releases Earnings Results, Misses Expectations By $0.01 EPS

Western New England Bancorp (NASDAQ:WNEB) released its quarterly earnings data 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 analyst estimates 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 %

Western New England Bancorp stock opened at $8.68 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a 50 day moving average price of $8.68 and a 200 day moving average price of $7.56. 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 market capitalization of $187.73 million, a PE ratio of 14.47 and a beta of 0.69.

Western New England Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.23%. Western New England Bancorp’s payout ratio is currently 46.67%.

Wall Street Analyst Weigh In

WNEB has been the subject of a number of recent analyst reports. Janney Montgomery Scott downgraded shares of Western New England Bancorp from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Piper Sandler lifted their target price on Western New England Bancorp from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, Seaport Res Ptn cut Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 24th.

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.