Western New England Bancorp (NASDAQ:WNEB) Issues Earnings Results, Misses Estimates By $0.06 EPS

Western New England Bancorp (NASDAQ:WNEB) posted its earnings results on Tuesday. The financial services provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.06), Zacks reports. Western New England Bancorp had a return on equity of 7.25% and a net margin of 13.27%.

Western New England Bancorp Trading Up 1.8%

NASDAQ WNEB traded up $0.26 during trading hours on Tuesday, hitting $14.66. 33,942 shares of the company’s stock were exchanged, compared to its average volume of 57,319. The firm has a market cap of $294.96 million, a price-to-earnings ratio of 16.47 and a beta of 0.75. The stock has a 50-day simple moving average of $13.87 and a 200 day simple moving average of $13.52. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.37. Western New England Bancorp has a 1-year low of $10.25 and a 1-year high of $15.01.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on WNEB shares. Hovde Group upgraded shares of Western New England Bancorp to a “hold” rating in a research report on Thursday, April 2nd. Piper Sandler reissued an “overweight” rating and issued a $15.00 price objective on shares of Western New England Bancorp in a research note on Wednesday, April 29th. Zacks Research downgraded Western New England Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Weiss Ratings raised Western New England Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Finally, Seaport Research Partners lifted their target price on Western New England Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Insider Buying and Selling at Western New England Bancorp

In other Western New England Bancorp news, SVP Darlene M. Libiszewski sold 3,680 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $13.42, for a total value of $49,385.60. Following the completion of the sale, the senior vice president directly owned 14,048 shares in the company, valued at approximately $188,524.16. This trade represents a 20.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Western New England Bancorp

A number of institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in Western New England Bancorp during the 2nd quarter valued at $39,000. BNP Paribas Financial Markets grew its holdings in shares of Western New England Bancorp by 95.7% during the third quarter. BNP Paribas Financial Markets now owns 5,003 shares of the financial services provider’s stock valued at $60,000 after buying an additional 2,446 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Western New England Bancorp by 51,300.0% during the second quarter. JPMorgan Chase & Co. now owns 8,738 shares of the financial services provider’s stock valued at $81,000 after buying an additional 8,721 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Western New England Bancorp during the second quarter worth about $93,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Western New England Bancorp in the 2nd quarter worth about $100,000. 67.95% of the stock is owned by institutional investors and hedge funds.

Western New England Bancorp Company Profile

Western New England Bancorp is a bank holding company headquartered in Westfield, Massachusetts. Through its wholly owned subsidiary, Westfield Bank, the company provides a full suite of commercial and consumer banking services. Its operations focus on serving small to mid-sized businesses, professional practices, and individual customers, with a strategy centered on relationship-driven banking and community involvement.

The company’s core offerings include deposit products such as checking, savings and money market accounts, along with business cash-management solutions.