Western New England Bancorp (NASDAQ:WNEB) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Western New England Bancorp (NASDAQ:WNEB) released its quarterly earnings data on Tuesday. The financial services provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05, FiscalAI reports. The firm had revenue of $22.01 million for the quarter, compared to analysts’ expectations of $18.62 million. Western New England Bancorp had a return on equity of 5.58% and a net margin of 10.33%.

Western New England Bancorp Trading Down 0.5%

WNEB traded down $0.06 during mid-day trading on Tuesday, hitting $12.82. 22,460 shares of the stock were exchanged, compared to its average volume of 41,367. The firm’s fifty day moving average is $12.69 and its two-hundred day moving average is $11.95. Western New England Bancorp has a 1-year low of $7.63 and a 1-year high of $13.95. The company has a market cap of $262.71 million, a PE ratio of 19.42 and a beta of 0.83. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Western New England Bancorp in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $11.00.

Institutional Investors Weigh In On Western New England Bancorp

Several large investors have recently added to or reduced their stakes in the business. Empowered Funds LLC boosted its holdings in Western New England Bancorp by 7.0% in the first quarter. Empowered Funds LLC now owns 89,478 shares of the financial services provider’s stock valued at $832,000 after purchasing an additional 5,883 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Western New England Bancorp by 36.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 92,006 shares of the financial services provider’s stock worth $856,000 after acquiring an additional 24,597 shares in the last quarter. First Trust Advisors LP purchased a new position in shares of Western New England Bancorp in the 3rd quarter valued at about $600,000. Bank of America Corp DE raised its position in shares of Western New England Bancorp by 12.5% during the 2nd quarter. Bank of America Corp DE now owns 53,368 shares of the financial services provider’s stock worth $493,000 after acquiring an additional 5,931 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Western New England Bancorp during the third quarter worth approximately $480,000. 67.95% of the stock is owned by hedge funds and other institutional investors.

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.