Western New England Bancorp (NASDAQ:WNEB) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Western New England Bancorp (NASDAQ:WNEB) issued its quarterly earnings data on Tuesday. The financial services provider reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01), Zacks reports. Western New England Bancorp had a return on equity of 4.91% and a net margin of 9.51%. The business had revenue of $28.44 million for the quarter, compared to analysts’ expectations of $15.58 million.

Western New England Bancorp Stock Performance

NASDAQ WNEB opened at $9.16 on Thursday. Western New England Bancorp has a 12-month low of $6.00 and a 12-month high of $10.08. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.62. The company has a 50-day simple moving average of $8.99 and a two-hundred day simple moving average of $9.05. The firm has a market cap of $190.63 million, a price-to-earnings ratio of 16.36 and a beta of 0.57.

Western New England Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Wednesday, May 7th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.06%. The ex-dividend date is Wednesday, May 7th. Western New England Bancorp’s dividend payout ratio is presently 50.00%.

Wall Street Analysts Forecast Growth

Separately, Seaport Res Ptn upgraded shares of Western New England Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th.

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.