Western New England Bancorp Inc reports results for the quarter ended in June - Earnings Summary

Western New England Bancorp

23/07/2024 22:22

* Western New England Bancorp Inc  WNEB.OQ  reported
quarterly
adjusted earnings of 17 cents​​ per share for the quarter ended
in June, higher than the same quarter last year, when the
company reported EPS of 13 cents.  The mean expectation of
three analysts for the quarter was for earnings of 11 cents per
share. Wall Street expected results to range from 11 cents to 12
cents per share.
    * Revenue fell 14.1% to $14.47 million from a year ago;
analysts
expected $15.70 million. 
    * Western New England Bancorp Inc's reported EPS for the
quarter
was 17 cents​.
    * The company reported quarterly net income of $3.51
million.
    * Western New England Bancorp Inc shares had risen by 22.2%
this
quarter and lost 6.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 7.5%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for Western New
England Bancorp Inc is $9.00 
This summary was machine generated from LSEG data July 23 at
09:22 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jan. 1 0001       0.11           0.17           Beat
 Mar. 31 2024      0.12           0.14           Beat
 Dec. 31 2023      0.15           0.12           Missed
 Sep. 30 2023      0.15           0.21           Beat