Brokerages forecast that Western New England Bancorp Inc (NASDAQ:WNEB) will announce $17.01 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Western New England Bancorp’s earnings. The highest sales estimate is $17.32 million and the lowest is $16.70 million. Western New England Bancorp reported sales of $16.49 million during the same quarter last year, which indicates a positive year-over-year growth rate of 3.2%. The business is scheduled to issue its next earnings report on Tuesday, April 23rd.
On average, analysts expect that Western New England Bancorp will report full-year sales of $70.20 million for the current fiscal year, with estimates ranging from $68.60 million to $71.80 million. For the next financial year, analysts expect that the company will report sales of $74.30 million, with estimates ranging from $71.80 million to $76.80 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Western New England Bancorp.
Western New England Bancorp (NASDAQ:WNEB) last posted its quarterly earnings data on Tuesday, January 29th. The financial services provider reported $0.14 EPS for the quarter, hitting analysts’ consensus estimates of $0.14. The firm had revenue of $17.06 million during the quarter, compared to analysts’ expectations of $17.19 million. Western New England Bancorp had a return on equity of 6.71% and a net margin of 18.60%.
Western New England Bancorp stock traded up $0.33 during midday trading on Friday, reaching $10.08. 36,813 shares of the company were exchanged, compared to its average volume of 47,072. The stock has a market cap of $288.76 million, a PE ratio of 18.00 and a beta of 0.16. Western New England Bancorp has a 1 year low of $8.50 and a 1 year high of $11.25. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.93.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 27th. Stockholders of record on Wednesday, February 13th will be paid a $0.05 dividend. This is a positive change from Western New England Bancorp’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Tuesday, February 12th. Western New England Bancorp’s payout ratio is currently 35.71%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY lifted its stake in shares of Western New England Bancorp by 346.0% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,660 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 7,494 shares in the last quarter. Citadel Advisors LLC acquired a new position in Western New England Bancorp during the 3rd quarter worth approximately $114,000. JPMorgan Chase & Co. lifted its position in Western New England Bancorp by 119.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,990 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 6,520 shares in the last quarter. Essex Financial Services Inc. acquired a new position in Western New England Bancorp during the 4th quarter worth approximately $152,000. Finally, MetLife Investment Advisors LLC lifted its position in Western New England Bancorp by 55.9% during the 3rd quarter. MetLife Investment Advisors LLC now owns 20,891 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 7,494 shares in the last quarter. 55.36% of the stock is currently owned by institutional investors and hedge funds.
Western New England Bancorp Company Profile
Western New England Bancorp, Inc operates as the holding company for Westfield Bank that provides community banking products and services to individuals and businesses. The company accepts various deposit accounts, including time deposits, money market accounts, savings accounts, demand accounts, and interest bearing checking accounts.
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