Western New England Bancorp (NASDAQ:WNEB) announced its earnings results on Tuesday, January 29th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.14, Bloomberg Earnings reports. Western New England Bancorp had a return on equity of 6.71% and a net margin of 18.60%. The firm had revenue of $17.06 million during the quarter, compared to analysts’ expectations of $17.19 million.
Shares of NASDAQ WNEB traded up $0.01 during trading on Thursday, hitting $9.98. The company had a trading volume of 10,598 shares, compared to its average volume of 35,887. The stock has a market capitalization of $295.50 million, a P/E ratio of 17.82 and a beta of 0.16. 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 0.93, a quick ratio of 1.05 and a current ratio of 1.05.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 27th. Shareholders of record on Wednesday, February 13th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, February 12th. This represents a $0.20 annualized dividend and a dividend yield of 2.00%. This is a boost from Western New England Bancorp’s previous quarterly dividend of $0.04. Western New England Bancorp’s dividend payout ratio is currently 35.71%.
A number of brokerages have commented on WNEB. Compass Point upgraded Western New England Bancorp from a “neutral” rating to a “buy” rating and lifted their target price for the company from $10.00 to $10.50 in a research note on Wednesday, January 30th. BidaskClub downgraded Western New England Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 17th. Zacks Investment Research upgraded Western New England Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, November 9th. Finally, ValuEngine downgraded Western New England Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $10.75.
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About Western New England Bancorp
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.
Further Reading: Cost of Capital
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