Q3 2018 Earnings Forecast for Western New England Bancorp Inc Issued By Piper Jaffray Companies (NASDAQ:WNEB)

Western New England Bancorp Inc (NASDAQ:WNEB) – Piper Jaffray Companies lowered their Q3 2018 earnings estimates for Western New England Bancorp in a report issued on Wednesday, September 26th, according to Zacks Investment Research. Piper Jaffray Companies analyst M. Breese now forecasts that the financial services provider will earn $0.13 per share for the quarter, down from their previous estimate of $0.14. Piper Jaffray Companies also issued estimates for Western New England Bancorp’s Q2 2019 earnings at $0.14 EPS, Q1 2020 earnings at $0.15 EPS, Q2 2020 earnings at $0.15 EPS and FY2020 earnings at $0.63 EPS.

Several other analysts also recently issued reports on the stock. BidaskClub downgraded shares of Western New England Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. Zacks Investment Research downgraded shares of Western New England Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. Sandler O’Neill downgraded shares of Western New England Bancorp from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a research report on Wednesday, July 25th. Finally, Compass Point raised shares of Western New England Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the company from $11.00 to $12.00 in a research report on Thursday, June 28th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $11.88.

NASDAQ:WNEB traded down $0.19 during trading hours on Thursday, hitting $10.14. The stock had a trading volume of 49,757 shares, compared to its average volume of 37,067. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.89. 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 $321.26 million, a price-to-earnings ratio of 20.28 and a beta of 0.26.

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

Institutional investors 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 valued at $866,000 after buying an additional 5,510 shares during 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 valued at $3,185,000 after buying an additional 86,812 shares during 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 valued at $5,409,000 after buying an additional 71,300 shares during the last quarter. RMB Capital Management LLC boosted its stake in shares of Western New England Bancorp by 11.1% during the 1st quarter. RMB Capital Management LLC now owns 1,407,814 shares of the financial services provider’s stock valued at $14,993,000 after buying an additional 140,873 shares during the last quarter. Finally, 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 valued at $17,318,000 after buying an additional 102,982 shares during the last quarter. Institutional investors own 55.51% of the company’s stock.

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.

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

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