Brokerages forecast that Western New England Bancorp Inc (NASDAQ:WNEB) will post sales of $17.28 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Western New England Bancorp’s earnings, with the lowest sales estimate coming in at $17.20 million and the highest estimate coming in at $17.35 million. Western New England Bancorp reported sales of $17.06 million in the same quarter last year, which would suggest a positive year over year growth rate of 1.3%. The business is expected to announce its next quarterly earnings report on Tuesday, February 4th.

According to Zacks, analysts expect that Western New England Bancorp will report full year sales of $67.86 million for the current financial year, with estimates ranging from $67.72 million to $68.00 million. For the next financial year, analysts anticipate that the business will post sales of $71.23 million, with estimates ranging from $69.60 million to $72.86 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Western New England Bancorp.

Western New England Bancorp (NASDAQ:WNEB) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.01). Western New England Bancorp had a return on equity of 5.93% and a net margin of 15.15%. The firm had revenue of $17.14 million during the quarter, compared to analyst estimates of $17.20 million.

Several equities analysts recently issued reports on WNEB shares. BidaskClub upgraded shares of Western New England Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Zacks Investment Research lowered Western New England Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, October 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $10.50.

Shares of NASDAQ WNEB opened at $9.72 on Wednesday. Western New England Bancorp has a twelve month low of $8.50 and a twelve month high of $10.27. The firm has a fifty day simple moving average of $9.67 and a 200 day simple moving average of $9.34. The company has a market capitalization of $260.57 million, a PE ratio of 17.36 and a beta of 0.21. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.89.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Tuesday, November 5th. Western New England Bancorp’s dividend payout ratio (DPR) is presently 35.71%.

Institutional investors have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan bought a new stake in shares of Western New England Bancorp in the 2nd quarter valued at $419,000. Seizert Capital Partners LLC acquired a new position in Western New England Bancorp during the second quarter worth $325,000. Acadian Asset Management LLC raised its holdings in Western New England Bancorp by 31.1% during the second quarter. Acadian Asset Management LLC now owns 38,822 shares of the financial services provider’s stock worth $363,000 after buying an additional 9,205 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in Western New England Bancorp by 11.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 54,639 shares of the financial services provider’s stock worth $510,000 after purchasing an additional 5,740 shares in the last quarter. Finally, Context BH Capital Management LP bought a new stake in Western New England Bancorp during the 2nd quarter worth approximately $250,000. Hedge funds and other institutional investors own 52.25% of the company’s stock.

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.

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

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