$17.49 Million in Sales Expected for Western New England Bancorp Inc (WNEB) This Quarter

Analysts expect that Western New England Bancorp Inc (NASDAQ:WNEB) will announce $17.49 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Western New England Bancorp’s earnings, with estimates ranging from $17.20 million to $17.78 million. Western New England Bancorp posted sales of $17.21 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.6%. The business is expected to announce its next quarterly earnings results on Tuesday, October 23rd.

On average, analysts expect that Western New England Bancorp will report full-year sales of $70.32 million for the current financial year, with estimates ranging from $69.90 million to $70.73 million. For the next financial year, analysts anticipate that the company will post sales of $73.02 million, with estimates ranging from $71.30 million to $74.74 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Western New England Bancorp.

Western New England Bancorp (NASDAQ:WNEB) last issued its earnings results on Tuesday, July 24th. The financial services provider reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. Western New England Bancorp had a return on equity of 6.48% and a net margin of 14.08%. The firm had revenue of $18.80 million for the quarter, compared to the consensus estimate of $17.20 million.

A number of brokerages have commented on WNEB. BidaskClub upgraded Western New England Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, October 12th. Zacks Investment Research downgraded Western New England Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, October 13th. Compass Point upgraded Western New England Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $11.00 to $12.00 in a research note on Thursday, June 28th. Finally, Sandler O’Neill downgraded Western New England Bancorp from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a research note on Wednesday, July 25th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Western New England Bancorp has a consensus rating of “Hold” and an average target price of $11.88.

NASDAQ WNEB traded up $0.04 on Tuesday, reaching $10.15. The stock had a trading volume of 502 shares, compared to its average volume of 37,884. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.04 and a quick ratio of 1.04. Western New England Bancorp has a 1 year low of $9.80 and a 1 year high of $11.25. The company has a market capitalization of $301.93 million, a P/E ratio of 20.30 and a beta of 0.26.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its stake in shares of Western New England Bancorp by 7.5% during the 2nd quarter. California Public Employees Retirement System now owns 78,716 shares of the financial services provider’s stock worth $866,000 after acquiring an additional 5,510 shares in the last quarter. Dalton Greiner Hartman Maher & Co. boosted its stake in shares of Western New England Bancorp by 42.8% during the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 289,534 shares of the financial services provider’s stock worth $3,185,000 after acquiring an additional 86,812 shares in the last quarter. Royce & Associates LP boosted its stake in shares of Western New England Bancorp by 17.0% during the 2nd quarter. Royce & Associates LP now owns 491,754 shares of the financial services provider’s stock worth $5,409,000 after acquiring an additional 71,300 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Western New England Bancorp by 7.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,574,409 shares of the financial services provider’s stock worth $17,318,000 after acquiring an additional 102,982 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Western New England Bancorp by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,161,545 shares of the financial services provider’s stock worth $23,020,000 after acquiring an additional 84,320 shares in the last quarter. Institutional investors own 55.50% 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 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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Earnings History and Estimates for Western New England Bancorp (NASDAQ:WNEB)

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