Western New England Bancorp, Inc. (Nasdaq:WNEB) is the holding company for Westfield Bank that provides a range of commercial and retail banking products and services to individuals and businesses. They operate a network of 25 banking offices located in Massachusetts and Connecticut. As of December 2022, their total assets were valued USD 2.6 billion, and they earned a net income of almost USD 26 million for the year.
Comps: Territorial Bancorp Inc. (Nasdaq:TBNK), Ponce Financial Group, Inc. (Nasdaq:PDLB)
When we compare Western New England Bancorp to these similar banking firms, we can see that they have a better price to earnings ratio, profit margin, return on equity, revenue and net income. Moreover, compared to Ponce Financial Group they recorded higher earnings per share and offer investors a higher yield: about 2.9%. Overall, they perform strong across the board and the growth is still present.