Overview
U.S. bank's Q4 net income rose 58% yr/yr, driven by loan and deposit growth
Net interest margin increased to 2.91%, marking sixth consecutive quarter of growth
Outlook
Company did not provide specific guidance for future quarters or full year
Result Drivers
LOAN AND DEPOSIT GROWTH - Co reported a 5.5% increase in total loans and a 7.2% rise in core deposits, contributing to earnings growth
NET INTEREST MARGIN EXPANSION - Net interest margin increased to 2.91%, marking the sixth consecutive quarter of growth
ASSET QUALITY - Asset quality remains strong with nonperforming assets at 0.19% and total delinquency at 0.14%
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q4 EPS
$0.26
Q4 Net Income
$5.20 mln
Q4 Net Interest Income
$18.8 mln
Q4 Dividend
$0.07
Q4 Net Interest Margin
2.91%
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for Western New England Bancorp Inc is $13.50, about 4.8% above its January 26 closing price of $12.88
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 15 three months ago
Press Release: ID:nGNX6lDTVG
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)