Western New England Bancorp Q4 net income rises

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

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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