Zacks: Brokerages Anticipate Western New England Bancorp Inc (NASDAQ:WNEB) Will Post Earnings of $0.13 Per Share

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Equities research analysts forecast that Western New England Bancorp Inc (NASDAQ:WNEB) will announce $0.13 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Western New England Bancorp’s earnings, with the highest EPS estimate coming in at $0.14 and the lowest estimate coming in at $0.11. Western New England Bancorp posted earnings of $0.17 per share in the same quarter last year, which would indicate a negative year over year growth rate of 23.5%. The firm is scheduled to issue its next earnings results on Tuesday, July 23rd.

According to Zacks, analysts expect that Western New England Bancorp will report full-year earnings of $0.53 per share for the current financial year, with EPS estimates ranging from $0.48 to $0.57. For the next year, analysts anticipate that the company will post earnings of $0.60 per share, with EPS estimates ranging from $0.54 to $0.66. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Western New England Bancorp.

Western New England Bancorp (NASDAQ:WNEB) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $0.13 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.13. Western New England Bancorp had a return on equity of 6.81% and a net margin of 18.14%. The firm had revenue of $16.50 million during the quarter, compared to analysts’ expectations of $17.01 million.

Several research analysts recently issued reports on WNEB shares. BidaskClub lowered YRC Worldwide from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Zacks Investment Research reiterated a “hold” rating on shares of Western New England Bancorp in a research note on Saturday, June 29th. DA Davidson began coverage on Western New England Bancorp in a research note on Thursday, July 11th. They set a “neutral” rating and a $10.00 price target on the stock. Finally, ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Western New England Bancorp currently has a consensus rating of “Hold” and a consensus target price of $10.50.

WNEB traded up $0.02 during trading hours on Thursday, reaching $9.13. 436 shares of the company’s stock traded hands, compared to its average volume of 37,582. The company’s 50-day moving average price is $9.25. Western New England Bancorp has a 52-week low of $8.50 and a 52-week high of $11.25. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $248.51 million, a price-to-earnings ratio of 16.30 and a beta of 0.21.

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in Western New England Bancorp by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 277,552 shares of the financial services provider’s stock worth $2,786,000 after purchasing an additional 13,954 shares in the last quarter. Rhumbline Advisers boosted its position in Western New England Bancorp by 35.7% during the fourth quarter. Rhumbline Advisers now owns 42,482 shares of the financial services provider’s stock worth $427,000 after purchasing an additional 11,187 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Western New England Bancorp by 525.1% during the first quarter. BNP Paribas Arbitrage SA now owns 5,407 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 4,542 shares in the last quarter. Dalton Greiner Hartman Maher & Co. boosted its position in Western New England Bancorp by 8.1% during the first quarter. Dalton Greiner Hartman Maher & Co. now owns 308,142 shares of the financial services provider’s stock worth $2,844,000 after purchasing an additional 23,077 shares in the last quarter. Finally, Deprince Race & Zollo Inc. boosted its position in Western New England Bancorp by 5.9% during the first quarter. Deprince Race & Zollo Inc. now owns 360,281 shares of the financial services provider’s stock worth $3,325,000 after purchasing an additional 20,094 shares in the last quarter. Hedge funds and other institutional investors own 52.60% 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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