Western New England Bancorp (WNEB) Releases Quarterly Earnings Results, Meets Estimates

Western New England Bancorp (NASDAQ:WNEB) released its quarterly earnings results on Tuesday. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.13, Bloomberg Earnings reports. Western New England Bancorp had a net margin of 18.60% and a return on equity of 6.75%. The company had revenue of $16.50 million during the quarter, compared to the consensus estimate of $17.01 million.

WNEB stock remained flat at $$9.45 on Wednesday. 261 shares of the company traded hands, compared to its average volume of 59,957. Western New England Bancorp has a 52 week low of $8.50 and a 52 week high of $11.25. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $260.28 million, a PE ratio of 16.88 and a beta of 0.16.

A number of research firms have recently commented on WNEB. Compass Point upgraded shares of Western New England Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the company from $10.00 to $10.50 in a report on Wednesday, January 30th. Zacks Investment Research cut shares of Western New England Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. BidaskClub upgraded shares of Western New England Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, January 1st. Finally, ValuEngine upgraded shares of Western New England Bancorp from a “sell” rating to a “hold” rating in a report on Monday, February 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $10.75.

In other Western New England Bancorp news, SVP Darlene M. Libiszewski sold 3,275 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $9.93, for a total value of $32,520.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Guida R. Sajdak sold 5,054 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $10.00, for a total value of $50,540.00. The disclosure for this sale can be found here. Insiders sold 67,422 shares of company stock worth $668,059 in the last 90 days. 5.22% of the stock is currently owned by corporate insiders.

An institutional investor recently raised its position in Western New England Bancorp stock. Geode Capital Management LLC grew its stake in shares of Western New England Bancorp Inc (NASDAQ:WNEB) by 5.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 277,552 shares of the financial services provider’s stock after purchasing an additional 13,954 shares during the period. Geode Capital Management LLC owned approximately 0.95% of Western New England Bancorp worth $2,786,000 at the end of the most recent reporting period. Institutional investors own 58.37% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Western New England Bancorp (WNEB) Releases Quarterly Earnings Results, Meets Estimates” was published by Baseball Daily News and is the sole property of of Baseball Daily News. If you are viewing this story on another domain, it was copied illegally and republished in violation of United States and international copyright laws. The legal version of this story can be viewed at https://www.baseballdailydigest.com/news/2019/04/24/western-new-england-bancorp-wneb-releases-quarterly-earnings-results-meets-estimates.html.

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.

Featured Article: Green Investing

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

Receive News & Ratings for Western New England Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western New England Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.