Western New England Bancorp (WNEB) Reports Q2 Earnings: What Key Metrics Have to Say

Core Insights - Western New England Bancorp (WNEB) reported a revenue of $18.3 million for the quarter ended June 2024, which represents a decrease of 0.7% compared to the same period last year, while the EPS increased to $0.17 from $0.13 year-over-year [3] - The reported revenue exceeded the Zacks Consensus Estimate of $18.22 million by 0.45%, and the EPS surprise was notable at +54.55% against the consensus estimate of $0.11 [1] - Over the past month, WNEB shares have returned +35.7%, significantly outperforming the Zacks S&P 500 composite's +2% change, indicating strong market performance [4] Financial Metrics - The net interest margin for WNEB was reported at 2.4%, which is below the three-analyst average estimate of 2.6% [6] - The efficiency ratio was recorded at 78.2%, better than the average estimate of 81% based on three analysts [6] - Total non-interest income was reported at $3.83 million, surpassing the three-analyst average estimate of $2.72 million, while net interest income was $14.47 million, below the average estimate of $15.49 million [6]