Western New England Bancorp (NASDAQ:WNEB) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Key Points

• Western New England Bancorp reported quarterly EPS of $0.32, beating the consensus estimate of $0.26 by $0.06. The company posted a 6.78% return on equity and a 12.43% net margin.
• WNEB shares rose 0.2% to $13.84, giving the company a market capitalization of approximately $277.4 million. The stock has traded between $11.08 and $15.01 over the past year.
• Analysts maintain a consensus “Hold” rating, with an average price target of $15.50; one analyst rates the stock a Buy and three rate it a Hold.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) released its quarterly earnings data on Tuesday. The financial services provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.06, Zacks reports. Western New England Bancorp had a return on equity of 6.78% and a net margin of 12.43%.

Western New England Bancorp Stock Up 0.2%

NASDAQ:WNEB traded up $0.03 during trading hours on Tuesday, hitting $13.84. 36,307 shares of the company's stock traded hands, compared to its average volume of 55,128. The firm has a market cap of $277.44 million, a P/E ratio of 16.48 and a beta of 0.78. Western New England Bancorp has a twelve month low of $11.08 and a twelve month high of $15.01. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.92. The stock's fifty day moving average price is $13.75 and its two-hundred day moving average price is $13.59.

Insider Transactions at Western New England Bancorp

In other Western New England Bancorp news, Director Philip Smith sold 3,300 shares of Western New England Bancorp stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $13.88, for a total transaction of $45,804.00. Following the completion of the sale, the director owned 5,800 shares of the company's stock, valued at $80,504. This trade represents a 36.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 6.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

WNEB has been the subject of several analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Western New England Bancorp in a report on Friday, August 7th. Piper Sandler boosted their price objective on Western New England Bancorp from $15.00 to $15.50 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Seaport Research Partners lowered shares of Western New England Bancorp from a "buy" rating to a "neutral" rating in a research note on Wednesday, July 29th. Finally, Wall Street Zen upgraded shares of Western New England Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, September 12th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $15.50.

About Western New England Bancorp

Western New England Bancorp, Inc is the bank holding company for Westfield Bank, a community bank headquartered in Westfield, Massachusetts. The company provides banking and financial services to individuals, families, businesses, nonprofit organizations and municipalities.

Westfield Bank offers deposit products, residential and commercial real estate lending, commercial and industrial loans, consumer loans, home equity financing and other credit services. Its services also include online and mobile banking, cash management, electronic payments and wealth management solutions.

Founded in 1853, Westfield Bank has a long history of serving communities in western Massachusetts and northern Connecticut.

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