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

Key Points

• Western New England Bancorp reported quarterly EPS of $0.18, missing analysts’ $0.24 consensus estimate by $0.06. Net margin was 13.27% and return on equity was 7.25%.
• Shares rose 1.8% to $14.66 following the results, near the company’s 52-week high of $15.01. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $15.00.
• Institutional investors own 67.95% of the company, while insider ownership is 6.56%; a senior vice president recently sold 3,680 shares worth approximately $49,386.

Western New England Bancorp (NASDAQ:WNEB - Get Free Report) posted its quarterly 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 net margin of 13.27% and a return on equity of 7.25%.

Western New England Bancorp Stock Up 1.8%

Shares of WNEB traded up $0.26 during trading hours on Tuesday, hitting $14.66. 33,942 shares of the company were exchanged, compared to its average volume of 57,319. The company has a market cap of $294.96 million, a PE ratio of 16.47 and a beta of 0.75. The firm's 50 day moving average is $13.87 and its 200-day moving average is $13.52. Western New England Bancorp has a 52 week low of $10.25 and a 52 week high of $15.01. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.93 and a current ratio of 0.93.

Analysts Set New Price Targets

A number of brokerages have commented on WNEB. Weiss Ratings upgraded Western New England Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 11th. Piper Sandler reaffirmed an "overweight" rating and set a $15.00 price target on shares of Western New England Bancorp in a research note on Wednesday, April 29th. Zacks Research lowered Western New England Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Seaport Research Partners boosted their price target on Western New England Bancorp from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Finally, Hovde Group raised Western New England Bancorp to a "hold" rating in a research note on Thursday, April 2nd. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

Insider Buying and Selling at Western New England Bancorp

In related news, SVP Darlene M. Libiszewski sold 3,680 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $13.42, for a total value of $49,385.60. Following the transaction, the senior vice president directly owned 14,048 shares of the company's stock, valued at approximately $188,524.16. This trade represents a 20.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.56% of the company's stock.

Institutional Investors Weigh In On Western New England Bancorp

A number of large investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC raised its position in shares of Western New England Bancorp by 33.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 27,235 shares of the financial services provider's stock valued at $344,000 after purchasing an additional 6,773 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Western New England Bancorp in the fourth quarter worth $323,000. Wells Fargo & Company MN lifted its stake in shares of Western New England Bancorp by 65.9% in the fourth quarter. Wells Fargo & Company MN now owns 24,282 shares of the financial services provider's stock worth $306,000 after buying an additional 9,648 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Western New England Bancorp by 15.9% during the 4th quarter. Invesco Ltd. now owns 24,223 shares of the financial services provider's stock worth $306,000 after buying an additional 3,328 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Western New England Bancorp by 141.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 17,672 shares of the financial services provider's stock worth $164,000 after buying an additional 10,358 shares during the period. Institutional investors own 67.95% of the company's stock.

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.

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